My car lease is ending and the residual is $13000 (original MsRP was 25K but I think they’re selling for about $30K right now). With car prices sky rocketing right now, should I be buying it? TIA
My car lease is ending and the residual is $13000 (original MsRP was 25K but I think they’re selling for about $30K right now). With car prices sky rocketing right now, should I be buying it? TIA
Keep it or sell it. Don’t return it.
Considering the market climate, without all the facts (year, make, model, miles, condition), its hard to give solid advice.
Im a dealer of heavy equipment. Lead times are anywhere from 6 -18 months for new equipment (tractors, utvs, skid loaders).
Dealers in my industry are paying over dealer cost for like new slightly used equipment. There’s good chance you are in a great situation to buy your leased car and sell for a profit or guarantee a fair price for a vehicle to keep for yourself.
The KBB value of the car is usually higher than what you owe. If that’s the case, buy it and sell it.
Normally. I’d say it’s a car with a known history. Now, it’s a car with a known history that’s probably half the price. Why wouldn’t you keep it?
My lease ends in August. Wasn’t sure when I bought if I wanted to keep it forever or get something bigger. I’m going to buy bc I got a decent deal and getting a new car (even the same model) would be significantly more than the total cost for the lease and payoff.
Just bc you buy the car out now doesn’t mean you can’t sell it later when you can find another car at a reasonable price.
Do you like the car? Is it reliable? You have a value set three years ago, sounds like a win, particularly if your credit is good enough to get a good rate or have the cash. Replacing it will cost you.