So my car lease is going to be ending in October. It’s a 2019 Subaru Forester Limited with 27k miles on it so far, with the lease mileage of 30k. The lot price was $33,499, and the buyout price after the lease is over is $20,128.
I was originally just going to turn it in and lease another car (hopefully same make and model), but two of my coworkers said to buy and then sell it. Looking at the used cars Kelly Blue Book, I think I would get around $10k if I buy it from the dealership and then sell it.
I never really did anything like this before – and honestly this was my first time leasing a car! – so I just wanted to get other people’s opinions. Would it be a good idea if do this and preferably sell the car before the year is up? I’m not looking to keep it, and I do plan on leasing another car since I don’t drive too much and I had a bad experience replacing bad parts on an older Jeep.
Do it. $10k is $10K. What are you afraid of?
Check with some of the big ones like carvana and see how much you can get simply for the lease buyout rights. Some times they will give you a good chunk of the equity without you ever having to go through the process of buying the vehicle.
Buy it and keep it would be the best financial decision here. A 2019 Subaru with 30k miles should be very reliable for years. A very different story to your old jeep who’s not exactly known for reliability. Buying or leasing a new car is still tough right now, you might have to wait a while and you should expect to pay MSRP or above. So at least buy your your current lease so you have something and more time to decide what you ultimately end up doing.
This is a topic that’s close to my heart… Take care! Where are your contact details though?
Great post
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