Buy it
Yes, pay taxes on the buyout price.
Check Penfed used car loan.
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That doesn’t exist.
Your best bet for total cost of driving ~75k over 3 years is to buy a Corolla hybrid or Prius.
I think we will need to get into a lease deal first to be able to afford entry into a new car and then look to buy at the end, ideally not being upside down on what would be owed compared to what the car is worth…
That’s not realistic
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correct me if I’m wrong, but from what I have gathered, bending reality is the name of the game here…
If you’re going to put 20-25k on a lease, there’s not much bending reality to do here. Your best bet is to get a good deal on low mileage lease, MF buyrate AND buy it at the end. It’s all about managing cash flow.
Solid advice, thank you. I guess now it’s figuring out what (and when) lease deal (ideally suv) fits that criteria best…
Since you’re considering ev for 20-25k/year
- Can you charge at home?
- What your daily range needs?
Hello friends! I need some advise beyond myself or my dad who insists he’s the smartest person on Earth 
I have a 2021 Sentra SR with lease ending in June. There’s only 21.5k miles on it (s/o WFH job). Previously, I’ve had a 2015 Mazda3, 2018 Nissan Altima and now this 2021 Nissan Sentra – all on 3 year leases.
I want something larger than a Sentra, it’s quite small and compact and has done the job, but looking for either a truck, maybe even an SUV, or a larger sedan. My options are wide open, even looking at other makes than Nissan
With that said, I am looking for a decision if it’s smarter to buy out my lease or pursue another lease. Without further ado, here’s the specs:
2021 Sentra SR
36 months, 12k miles
Very, very good condition
21,475 miles
Residual Value: $15,728.85
Market Value: Just north of $20,000
Lease Payments: $300.50
Editing to add that a local Nissan dealer has offered $17,000
Believe that’s all, let me know if you have add’l questions!
For $300 monthly, plenty of EV SUV options - ID4, Ariya, Ioniq5, Ev6.
I have the free MB charger, yet to hook up, just picked up a loaner EQS SUV (rwd) last month (live in socal, found and picked up in norcal) after doing my first bit of deep diving on LH… think I did pretty well for my first hack - 24m/15k miles/$2500 deposit/max MSD/$489 monthly (MSRP was $108 and change). Now looking for something for my wife, who typically drives more than 15k a year. We both work freelance in the film industry, our range needs tend to fluctuate a lot, but we live about 50 miles north of L.A., and when she is on a project she drives a lot. Definitely not considering spending 20-25k a year on a lease, will be looking and pressing for a unicorn, just need to figure out what (and when) is the best chase…
You really don’t want to do my advise on buying it at the end to avoid the miles penalty with EQS.
Ideally, you want to get into 36 months lease with 7.5k miles and residual which still reasonable enough to get used car loan later. Eqb with 36k/7.5k $400 monthly and around $30k residual can work, so do ID4, ioniq5, ariya or ev6.
Totally makes sense, appreciate the insight. Wasn’t really ever thinking of keeping the EQS after the lease ends (could never afford the residual value anyways), but with the free charging and service for 2 years, figured if I could get a dealer to except my numbers it would serve as a solid EV test without having to pay for (almost) any charging, give it back in 2 years and hope for something similar with improved range, tech, etc. Tried to get in on the one pay Ioniq 5 deal for the wife before the incentives changed end of day April 1st, was another victim of the Fontana dealer bait and switch (tried to make the deal remotely, got strung along for 2 days…). Range is important, really want to be in/near the 300mi+ category if possible.
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2021 RDX TECH
24,000 Miles
Buyout is 25,500 plus tax.
Worth it?
Already extended 6 months. Same car in 2024 is 80 more a month to lease
Thanks
Do you like your old car? If not, there should be $1000 in equity enough to offset that $80/month extra.
In 42 months?
Hi all, looking for some guidance on whether to extend at lease end or purchase outright. Thanks in advance.
21 Acura TLX SH-AWD A-spec
389/mo for 36/10. got deal through LH. Currently over mileage by ~1.5k miles ($0.20/mi overage charge)
option to extend 6mo, from what I gathered of the $389 mo:
$324.44 toward payoff / lower residual
$16.53 maintenance fee (not sure why, seems excessive)
$48.03 rent charge
$30,564 current buyout = $28,665 residual + $1,899 taxes
I can buyout right now as I like the car and it’s well-maintained, but I’m also thinking about extending to give myself more time to decide. Given that a considerable amount of the monthly payment is going to fee/rent charge, would you just buy out at this point? Anything else I’m missing in my analysis?
Any help and opinions are much appreciated.
2021 Audi A4
~34,900 miles (~4,9000 miles over @ $0.25/mile)
Lease-end buyout is $27,200; best offer I’ve received for a hypothetical sale is $23.5k; similar vehicles for sale on the market is ~$29-30k.
Prefer to swap into a Q8 e-tron but the few dealers I’ve contacted haven’t even made a counteroffer. Admittedly, my ask is aggressive – 15% off MSRP, buy-rate MF, and waive my excessive miles on lease turn-in – but they act like petulant children and get offended that I’m starting high. I’m willing to negotiate a little but I’m not going to begin at the floor I’m willing to go down to. Through an anecdotal observation, there’s probably over 500 of these in the greater So Cal region and I think 10%+ off MSRP is reasonable for a vehicle in large supply and little demand. I’m a resident of WA but in So Cal for the time being, and one of the dealers told me “Audi doesn’t do out-of-state leases,” which I find difficult to believe, especially because other dealers were asking for my WA ZIP.
If I was going to do the buyout, I’d also look into getting it CPOd, but I’m sure that has to be an arduous process as well. Looking for something to get me through the next 2 years as I’m waiting for a R2. I also considered walking away, paying the fees, and look into a Ioniq 5. One benefit of a purchase is that WA does allow sales-tax credit when trading in vehicles. (Which I plan to use for the R2) Again, thoughts are appreciated.
That sounds like a better plan
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Hi there. Long time lurker, first time poster.
My lease is coming to an end in August for an 2021 Acura RDX SH-AWD. I have about 21,000 miles on it out of a total of 22,500. I’m wondering if I should buy it out (we like the car) or if I could find another lease on a suv with better gas/ potential EV SUV for similar or lesser pricing. I am in the Chicagoland area.
I leased the car through Acura financial services at $432 a month and gave $1000 down.
Residual is $24,757.40 + $1800 in taxes. Lease disposition date is 8/30/2024. Disposition fee of $350. Current payoff is $27,805.67. I would likely secure a buyout loan through a credit union, etc.
I have not extended the lease at all and do not plan on doing so.
I received a quote from carmax for ~$29k but didn’t take it seriously. Carvana was offering me $24,000.
