“Should I buy out my lease?” super-thread

[jeisensc]

@cohenb06

I would consider buying and then getting something new in a few years if it would hold value. One concern is that even with low miles the car may require costly repairs in the coming years (maybe this is unfounded). The extended service plan I was quoted would be around $1600/yr for 2 years which seems like a lot.

If you decide to keep it, consider a third party warranty (this thread, start here)

Warranty Hacker

If you’re going the German route and looking for a third party warranty, I would suggest Portfolio, Fidelity or Freedom. I went with a Freedom warranty on a 2013 C63 AMG I just purchased. Really reasonable cost as long as the miles are low on the vehicle at the time of purchase. I can give you my guys details and you can have him run a quote for you, pm me for details.

You should definitely check other sources to see if there might be equity (probably not?)

List of places to sell or value your car online

For the quickest results: Copy your VIN to your clipboard and just paste it into each site. Quicker than plate lookup. Enter “I own the vehicle” where applicable — you don’t need to get into the details of your lease payoff or loan balance until you’ve eventually chosen one entity to sell to. Use a Google Voice or some other device you can turn off at will. Otherwise your real phone will be bombarded initially. In alphabetical order: Buyer Name Direct Link Review Link AutoCo…

Even at 0% interest, at 72 months, your payment goes up $100. If you like the car and are planning to write a check, maybe? Or if you aren’t at all payment conscious.

You didn’t mention state so not sure what the tax situation might be, but I’d work that out and look at financing/buyout numbers before making a decision.