Should I stay in my current lease or get a new one

I just completed 36 months of a 48 month lease of a 2014 mazda6. Kbb values the trade in at 11500 and the current payoff is 164000. Is it worth looking to get a new lease and carriing the neg equity over or wait the last 12 months to shop. The reasons I’m considering shopping now is because after the 36 months I am out of warranty and want to avoid buying tires and brakes in the last year.

Please let me know your thoughts. Any and all feedback is appreciated.

Thanks

Wait and get out free and clear after 12 month. Buy extended warranty for one year, if you are worried about it.

It’s a Mazda 6, I wouldn’t be too worried about the maintenance cost over that last year. How many miles do you have on that thing? You probably won’t need new brakes, so maybe tires will run you $400-500? That seems a lot better than eating $5,000 in negative equity.

Hopefully the monthly is low and you can enjoy your nice car for the last year!

def keep the mazda, too much negative equity.

I’d take the gamble on being out of warranty on a mazda, those cars with under 50k mi shouldn’t have too many things break as long as you don’t abuse the car.

In regards to brakes, the pads are cheap (if you even need them, if you drive a lot of highway you might be ok anyway) and for tires, buy used tires for $100-$150 off craigslist with enough tread on them to pass. You can just slap them on at the end right before you return it. I’ve discussed this at length on this forum, i do it for all my lease returns. Just make sure they’re all same brand and if you have runflats, you need to return with runflats (doubt mazda has them but just in case). Get more info about whats required at lease end return from mazda directly. I would def no carry such a large negative equity over to another car. Even if you end up with $1500-$2000 in cost, its better than taking a $5000 “loss” voluntarily now. Highly unlikely you will have an excess of $5000 in repair costs.

Brakes and tires won’t cost you 5 grand.

Thanks everyone, great advice. I guess I was antsy after seeing all the good deals being shared on here.

I’m at 26000 miles now

You may not even need new rubber!