Hello all!
I have a decision to make by next Wednesday.
I have been leasing an Equinox for 3 + years (I extended the lease, my lease actually was scheduled to expire in Feb).
I have a 12,000 mile a year lease, and I’m at 46,000 miles, so 10,000 miles over. 10,000 X a quarter per mile = $2,500 dollars. I called GM Financial a few times about mileage forgiveness, and every time I called, I got a different answer about what I qualify for.
The buyout price is a little over $17,000, before tax. I have enough saved up to buy it outright, without financing.
Looking at lease prices for an Equinox, it seems the best I can get is $219.00 a month (and this appears to be questionable), with approximately $2,100 down, before taxes, dealer fees, etc.
I took care of the leased car that I have, but I live in the Rust Belt, so it was exposed to salt over the winters.
With 46,000 miles on a three-year-old car, is it wise to buy the car? How do Equinoxes hold up over time? I’ve had bad luck with my cars, everyone has crapped out once it gets near 100,000 miles.
Thank you in advance!