The lease on my 2015 Highlander is up in November, so I got appraisals from Vroom and Carvana to see where I stood as far as equity goes. Carvana came in right at the payoff of $24,300. Vroom is offering $26,000. I’m interested in hearing some opinions if I should jump on the $1,700 now or take my chances in November? I’m in Northern Virginia, so I’d essentially be getting my taxes refunded to me.
Couple of other factors for me to consider, I did a single pay so I’m not cutting my payments short. Also, it only has a little over 10k miles and won’t go much higher by the lease end.
Take it and run dawg. Run
You are paid till Nov so your profit is less but I likely would still take it.
I’m leaning towards taking it as well, so thanks for your input.
I would take it IF there is a strong August deal on a replacement vehicle you want.
Wait what am I missing? If you’ve prepaid for it, why would you give it up early and miss out on what you’ve paid for?
Fair point. I guess my thinking is I would take the equity now to apply to my next lease since it’s probably 50/50 on whether there would be any equity in 3 months. Three months would be about the equivalent of paying $1200. That would essentially give me $500 in equity rather than $1700. But, to Qbrozen’s point, also no sense in selling it now if I don’t have a good deal on a replacement.
What did you end up doing?
The original Vroom offer expired, so I resubmitted and they stayed at 26k. I’m going to take it this time. With the 2019’s coming out I don’t see it getting better. Most likely would drop.