Hello, everyone. I stumbled on leasehackr last night on Reddit and have been browsing the forums and info nonstop since then trying to learn as much as possible so I make the best financial decision for our family. We’re currently leasing a 2022 VW Atlas and the lease term is up on 4/21. We moved some payments to the end of the lease so we owe around 4k to turn it in. The residual value on it is $24,345 and payoff is $29,671. I see most are selling for around $24k-26k which is right around the residual value. My question is what makes more sense in this case. We’re not opposed to getting in a new Atlas so trying to see if it makes sense to go to the dealer to trade it in for a new lease or turn it in. I’m afraid the trade in value is going to be around 21-22 so we’d be in a new lease with negative equity also considering buying it but I got screwed when we leased it in Texas due to trading in two vehicles and my note has been $865 for 48 months. It more hurts my heart and pride to turn around and buy it when I’ve already paid so much towards it.
Looking for any advice or for a recommended broker who might be able to help us out with our situation. We’ve also been looking at a used 2024 Expedition Limited but damn them sob’s are expensive with most averaging 50-60k miles. We’re also open to other SUVs with similar cargo space.
Hope all that makes sense and someone can help us out! Appreciate anyone chimes in. Thank you