I am in NY, and my current CX5 lease ends in a few weeks. I have about $3k in equity with a buyout offer from CarMax.
I don’t have my heart set on a specific vehicle and am wondering if it makes sense (or if it’s even possible) to lease a new CX5 or GC 4xe now and then at some point during the lease, see what CarMax will offer to buy out the lease early so I can get a different car if I want to.
My question is, which car is most likely to hold its value if I try to sell it to a third party dealer before the lease period ends?
If it were me I would just buy out your existing cx-5 and wait it out. Banking on equity in a lease (especially towards the front end of it) is probably not a good plan.
I am wondering, if a place cannot do a lease buyout with Mazda Financial but can only buy it directly from me, then I believe I would have to factor in paying almost $2K in NYS taxes to buy out my lease and then first sell it to them, basically taking ~$2K off their offer for practicality purposes. Does that sound right?
Ah okay. They told me it is under Toyota Lease Trust. Maybe I am missing your point, but in either case I would still be on the hook for NYS taxes if I have to buy out the lease from either of them first before selling it, no?
I already received a $27.2k offer from Algo Nation, which would give me almost $5k in equity if they do lease buyouts.
But it is hard for me to justify spending an additional $20k minimum for a first-gen model that might not hold its value. I’m concerned the PHEV tech is early and that in another year or two the tech will continue to improve and nobody will want the first-gens. I also read the CX90 will not get full 7500 credit.
Am I way off? Are there features in the CX90 that totally justify the price increase?
Either buy your current CX5 or use the equity and tax benefit to trade in for a financed brand new CRV, HRV etc or even Lexus RX/GX (healthy discounts in the #marketplace)
if the goal is to continue to have a vehicle until you find your next deal, are you able to extend your lease for 6 months on a month-to-month basis at the current pmt until you find your next vehicle. That way you are not taking any of the market risk in a new lease if the Market tanks.