New US Bank Lease End Option | What would you do?

[jschechter]

I was presented with a new US Bank Lease End Option and curious to get thoughts on what you would do.

Current Lease - 2019 Toyota Highlander XLE
Current Payment - $350
Current Mileage - 32,000
Final Payment Made on 2/7

Lease End Options:
-My Buyout Price - $26,568
-Dealer Price w/ New US Bank lease - $26,645
-Dealer/Carvana Price - $33,217
I can likely get around $32k for the car, so not really positive equity unless I bought and resold or went into a new US Bank Lease

My current plan was to extend the lease for up to 6 months and hope the market got better for leasing. However, a new option was presented to me:

NEW Option - They offered me a curbside return where if I want to by March 3, they will pick up the car at my house, waive and excess wear and tear, waive termination fee and REFUND my last 3 payments

So that is my conundrum - do I extend the lease or quickly look for something new. Was eyeing a Jeep GC - L but that would be still over $500 a month with tax and there just still aren’t great deals out there.

What would you do?? Appreciate the feedback.

[forbs]

~4k of Equity after Taxes? I would buy it and resell it immediately. No W&T.

[Jrouleau426]

I can roll your equity into another usbank lease if interested in another Toyota.

[jschechter]

Thanks! Just sent you a message.

[HarleyGirl]

I’m in the same boat with US Bank my lease is up in July… It’s a 2020 Jeep Compass with 14,200 miles . Dealers shipped offered me 23,000 for trade in but of course US bank changed the price to 25,000 for dealership to buy My buyout is 16,902 I need a 3rd row for the grandkids. Not sure if I should buy it out? Just turn it back in when it’s time? Then will I have to pay taxes on it twice?
Us bank has been such a headache to move on to a new car😩

[Dfg]

Trade it in with equity for dealer price and finance your next vehicle with US bank. It does not have to be a US Bank lease. Can be lease or finance.