If you don’t love it, why do you want to get stuck for another 60 months?
How much is the equity?
Pure value… The prospect of buying a car worth something like $25k for 17800… Super low miles still, though people have a propensity to hate Kia, it does have a great warranty.
Car value is anywhere from 21k to 24k realistically. I’ve been offered 21,300 and 21,500 so far from 2 dealerships. So somehwere around $3600 in equity toward whatever.
So sell it, get the equity and lease something that you like. Check carmax, carvana, autonation, etc.
Working on that… in between a WRX or Civic SI but its also a terrible time to lease and I have 3 more weeks to figure it out, or get a lease extension. Dont want to just buy it and then turn around and sell it as that means I’m essentially eating $1200 in tax for no reason. Lease buyout during trade in would be best bet of course, if I took that route.
Cant avoid feeling like its fiscally irresponsible to NOT buy the car out…
Three years just flew by. My mom’s MY21 RX350 lease is up in 2 weeks; could use some thoughts on what to do.
The car has 27k miles on it and is in excellent condition. Currently seeing $3k in positive equity among the regular online retailers (Driveway, Algo, Carmax etc.). Haven’t talked to any dealers or wholesalers yet.
Option 1 - Buy out for $30,700 plus sales tax and $350 buyout fee. Send a bank check to LFS and call it a day. Roughly $33,700 OTD.
- Pros: NA engine that’s true and tested, 87 octane, the exterior is Atomic Silver which is her favorite color and no longer available on the new RX.
- Cons: Has 20in wheels and the parkway on her commute is filled with craters. The car will need new tires and rear brakes in the next couple of thousand miles. She’s had a MY17 and MY20 (which are the same thing) so pretty much no change for the past 7 years except new car smell.
Option 2 - Finance a new MY24 RX350 - Roughly $56,500 OTD. Currently seeing 9% off with $900 doc fee in the market place. Leasing figures are no where near what they used to be even with first month payment waiver, loyalty, and the bump in lease cash this month. The hybrid doesn’t make sense as she only does around 8-9k miles per year; gonna be significantly less in the coming years.
- Pros: New body style that won’t be changed for 4-5 years, LFS finance rate is 3.49% for 60 months, the 19s don’t use low profile tires.
- Cons: 91 octane - not a deal breaker, but she’s old school and has put nothing but the cheap stuff in her 25+ years of Lexus ownership. There is no exterior color that she likes, no longer leasing so will likely have to hold it for a while.
Option 3 - Extend for 2 months and re-evaluate in April/May. RX350 inventory levels are healthy.
There’s no sense in trying to get her into another make/model. I’ve tried to get her to check out other cars - it’s not happening.
Hi guys, wanted to get your opinion if I should buy out my Audi since my lease ends in a month.
2021 sq5, black optics, white/red leather premium plus, carbon inlays, I forget what else off the top of my head MSRP 61k.
Excellent condition mechanically and cosmetically. Had a control module issue but that’s was fixed with a recall.
17.7k miles
Just had my 20k service last weekend.
My lease payments were 569 and I put 3k das for a 36/10 so I’m quite a bit under mileage. Tax rate is 8.125
My buyout is 35,692, and I would finance.
I’ve usually leased cars and changed them every 3 years but last year bought out our leased x7 and very tempted to do the same on the SQ5.
The miles are very low and I don’t know what else I’d get for that lease payment now. I love the car. Mostly local miles driving. The only car id consider leasing is any leftover new/loaner variant macan but only if a dealer would guarantee me a msrp Spyder RS allocation in return.
Buying the Audi seems like a no-brainer?
Thanks!
If your mom is going t be sad to give up her current car, she should definitely just buy it out.
go down to 17” or 18” wheels instead of replacing the 20s. Sell the 20s to recoup some of that.
3 Likes
Simple…Option 1 Execute-Execute-Execute
The payment should be in about the $500+ range for 60 months 6% average int. if you finance, since she doesn’t drive as much that resale value perks up as well on the used, I’d say she can probably still sell it for $23K after 3 more years 
If you try to lease RX, $6-700+ and $3K DAS,
BTW if it is the AWD you should have more than $6K+ in equity in this car
It is an AWD model. If I could get $6k, I’d sell it in a heartbeat. I’m not seeing anything close to that.
As far as option 1 goes, I would just buy it outright from LFS.
Great suggestion, didn’t even think of that.
1 Like
question expert hacks - best suggested EV lease brand/vehicle to buy out at end of lease if I know I will go (way) over 15k miles per year in a 24 month lease…looking for the wife that drives 20-25k per year.
Toyota Rav 4 Prime.
great car, but leasing, especially at 15k miles a year (or even minimum miles), has a really high monthly…looking for a suggestion on something that is not going to break the bank to get in to on the front end, affordable on the back end buyout.
Then the BZ4x next week.
3 Likes
expecting fresh incentives/discounts on the BZ4x next week?
could be a great deal, but the range blows on the BZ4x/Solterra…
Hey Hackers,
I have a 2020 QX60 Signature wrapping up a 39/10k lease in a few weeks in very good condition with 22.5k mi. Got a great deal thru LH, payment was $426/mo!
Lease is with Infiniti.
RV: $25,872
We like the car and were planning on buying it out and keeping it for a while. I had provisionally made that decision about 6 months ago when it seemed like the market value was $30k+. Now Edmunds has the market value just about at the RV, $25-26k and the decision looks a little less obvious.
We do need a 3 row SUV in the stable so if we let the Inifiniti go back, we would have to replace it with something similar.
Pro: just bought new tires, we know it was treated pretty well
Cons: mediocre range/mpg, equity neutral financially
What is the better hack financially, buying the QX60 or signing a new lease?
Do I have to pay taxes on the buyout price?
What are best rates you’re seeing (excellent credit) for lease buyout?