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

Yes returning is what I was going to do… but considering the car has not been driven was wondering if they would pay me for miles or if I would have positive equity in the car…

yes brother… looking into this now…

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got it thanks you :slight_smile:

A BMW dealer might offer a bit more than Carvana to get a low mileage great condition car - - if they buy - you could avoid the disposition fee.

See if the dealer give you some money since your milage is so low and you can maybe put it toward an x3 or x5.

Apparently they only give $350 for the low miles
Yea ill discuss if i can it towards a newer vehicle thx

Detailed in the BMW wiki

You need more than 2 bids

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So my current lease (Ford Escape) ends in May. I need to get another SUV which will be primarily for driving around town with the kids. Don’t anticipate putting a lot of miles on it.

I also need a car bc we are currently a 1 vehicle family, but that isn’t going to work much longer. I will be using the car to go to/from work. I will be close to 12,000, but won’t go over.

I was thinking of maybe leasing a car in May, and then saving up money during the summer to buy an SUV (starting a new job next month with a huge pay increase). Not sure if this is the best idea.

Maybe it would be better to lease both? Or buy a car instead and lease the SUV?

Any advice would be appreciated! I don’t really want to lease from Ford again. I love in Ohio. Thanks!

How much is the ford buyout? You might ‘hate it’ but it might save you money.

I have no plans on buying out my lease, so I’m not sure why it got moved to this forum. But maybe it’s something I should consider. I’ll have to find out how much it would be.

2021 Tahoe LT 4x4 (12/36)
MSRP - $64,xxx
Residual - $41,xxx
Current payoff - $48,445
Dealer buyout - $45,xxx (per dealer I purchased from)
Monthly - $750

Sitting at 32k miles with 6 payments remaining. Would be interested in trading up for a RST/Premier, just not sure if it’s the “smart” thing to do. Since it’s a lease, Carvana/Vroom etc are not an option to sell too. KBB has it at $58,xxx on trade in and $63,xxx on private party. New one would absolutely cost more per month, but is the cash out worth it, or hold on to it at expiration.

The buyout is $15,854. Is that a good deal? It is a 2020 Escape. I really don’t want to buy it, but it seems cheaper than anything else that is used. Ugh this is all so complicated.

It says by the end of the lease I will have paid 17,682.14 total. The value of the car was 26,369.04.

A new 3yr Lease on an SUV is going to run you about $18,000 (unless it’s a Nissan then it’s more like $11000)

After 3 years you own the Escape, vs after 3 years you return someone elses car. Take your pick.
AND you can sell that escape after 3 years and put some money on a new lease.

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KBB does not buy cars :grinning:
Shop it around see what everyone is offering

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Well I guess I should’ve added that the dealer who sold it to me offered $58,200. Thru KBB instant cash offer. Which is right in line with KBB value.

I would take that and RUN

If you don’t need it of course :grin:

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Hi everyone,

Currently torn on whether I should buyout my 2021 K5 to keep for myself or to sell it. I only have 8.5k miles on the car and currently have an offer to sell it that would give me 6k equity. The buyout is 19.3k and the offer to sell is 25k. I’m just not sure if I should finance the buyout and drive it on my own since it has such little miles and would be mine to own in a few years / sell it whenever I really want a new car. What do you guys think?

This is a choice for you, do you need money, do you want a newer car, do you even like the K5?

If you sold it, what would you replace it with?