No we don’t, we really don’t. The single largest impetus behind this community is likely that leasing, when done correctly, throws away the least amount of money.
It may be more difficult to see that in today’s high interest market, but leasing often times comes out ahead on total cost of ownership. High residuals and high incentives combined with low interest rates would be the desired recipe for low cost leasing. This would beat a straight purchase in many cases.
In your instance, I would keep your current car as long as you can. The fact that your financing was at a really low rate makes the TCO stretch that much farther. You will come out ahead keeping this one for another 3 years or longer as opposed to jumping back to the high depreciation zone and high rates.
Thanks for the reply. One of the benefits of leasing was how little maintenence we had as well. Going into my 30k mi plus years I know mainteenance costs such as tires, brakes, transmission flushes etc can add up. How much weight does the high resale values of used cars if I sold now instead of later mean to the decision to sell now? Arent we getting to the end really high used cars values?
We are, and the highest hit will go to the 1-3 year old vehicles. Older cars that have past their significant depreciation curve will drop much slower. No one can know for sure, but I would make that bet.
How do you like your current car? If you hate it and have been wanting to get rid of it, then sell it. If you like it, can you still drive it for another 3 years?
Valid question but the issue is your plan is to go into a car with virtually no discount. So you’re selling high but still buying high. There is arbitrage out there with used car prices still being stupid it just would require you to get into something different.
Which cars can get me that arbitrage? How does a 7 seater Tesla Y sound . Lol. Just saw they price well with the rebates plus wife can charge at work for free.
