My lease is ending Nov 2024 for my 22 BMW X5 M50i. The car has 29,900 miles on it and am allowed 45k miles (signed a 36/15k lease). I love the car but at the same time im thinking about getting a cheaper car. Like a Honda Pilot just to save some money ( Just bought a house and have a 4yr old and a newborn).
I leased my car through BMWFS at $1467/month and paid 3491 DAS (i rolled in taxes).
Residual is $44,343 supposed to turn in 11/17/2024 with a current payoff of $55,000.42.
I have not extended the lease.
I received offers from Carvana for 52k and another offer from Auto Nation for $53,600. So no equity.
Hello -
Wife has a 2021 Hyundai Tucson lease through the OEM that expires August; we are using the 6 month extension already because the lease is cheap and we haven’t identified anything specifically to replace it with.
Payoff is $20K, and I can consistently get $23K+ for it on Carvana, etc. #1 priority is to protect the $3k equity (only used 13K miles of 30K) #2 priority is to position us to take a new car deal when it falls into place without fretting about dealing with an competitor dealer balking at handling the payoff #3 priority is not losing some kind of loyalty benefit if we were to replace with another Hyundai product.
We can pay it off if that puts us in the best position. I haven’t qualified what kind of taxes that would incur with Virginia. That’s on my list to confirm.
Hyundai dealers so far haven’t touted any loyalty offers, but want to make sure I don’t lose something like that if we pay it off.
2021 Audi S4 Premium Plus, last payment already made. Residual is $39,075 before tax.
Received an “offer” via Truecar for $38k. Similarly specced cars / miles are listed on Audiusa for ~$44,800 to $46,300.
Would love to get into a 2023 or 2024 S5 Sportback Prestige for the roughly the same payments as the S4 ($610) but not sure that’s possible based on current MF/RV (.00172/60% for 36/10 according to Edmunds). I have Audi F&F certificate.
One thought, and would like advice here, is that I could purchase my lease and use difference as cap cost reduction. I’m not sure if tax on the purchase would hurt more than its worth in the long run. Am I way off base on this line of thinking?
Ah, got lost in the details! There’s no chance I’m going to come out worse from a loyalty incentive perspective if we do end up with another hyundai lease, will we?
That’s true. I want to trade it in for an RDX advanced, but am getting no where near the payments that I would be okay with. Everyone is speak to is hovering around mid 600 with a 48 month, 10k miles. I’m trying to get under 600 a month on a 36 month.
I may end up buying mine as well. I kinda like the new TLX A-Apec. But other than AWD, a digital dash and a new grill - there’s nothing different than my current TLX.
Knowing you’re a captured market gives Acura little incentive to use some of the equity to sweeten a deal on a new lease.
I’d been holding out hope for Acura to make a TLX Hybrid, but they seem to be going all-in on electric and ICE with no hybrid options. Total opposite of Toyota/Lexus who is going heavy on hbrid across the line.
I extended my lease to keep my options only. Mostly because Texas screws you on sales tax. You pay sales on the entire cap cost at the beginning of the lease and then on the entire residual if you buy it.
If I put $1400 in sales tax on it, I’m not going to turn around and trade it in soon.
Hmm… Not sure if it is worth it, but my sister was just in a similar situation with her ACURA RDX lease. I suggested she have the dealer CPO the car (dealer charged $750) and that allowed her to qualify for the special 1.49% for 36 months or 1.99% for 48 months. We did the math and it will end up saving her just over $2,000 in interest even after the CPO fee.
I reached out to one of the brokers, but he said the price I was looking for + the equity I was asking for was unrealistic. If you know of someone that could help get me into the MDX advanced trim for a good range, I’d be willing to sign today.
