Wow - I guess I'm buying my 2018 leased Mazda

Ignore KBB, your car is only worth what someone will pay you for it. You can get quotes from the car buying services:

There is at least one thread discussing this dilemma

Your current car might have equity, but its replacement will likely cost more than what you paid nearly 3 years ago, and/or your selection is limited, and/or a new one may be decontented.

If you buy out your lease today, you will have paid (upfronts + sum of lease payments) + payoff amount (in cash or financed), and you can tell us if that’s more or less than MSRP on a new one.

And you can turn this one in and lease another, most likely at a higher payment.

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