I have read the other threads about buying at the lease end is a bad idea. However, looking at the KBB, Truecar, and local ads, I am wondering if its still a bad idea.
Scenario:
I have a 2010 3S HB 6-speed manual with 29,000 miles. No additional options. I am leasing for 42 months (ends in October) with 15,000 miles a year (I am way under miles). The residual is $10,900. From what I have seen, private party is between $13,500-16,500. So even with tax (8.5%) and lets say $300 for whatever fees, etc. My total loan would be around $12,200. The longest I would keep the car after the lease is up would be maybe 8 months.
Am I missing something? Wouldn't a buyout be a better idea?
Scenario:
I have a 2010 3S HB 6-speed manual with 29,000 miles. No additional options. I am leasing for 42 months (ends in October) with 15,000 miles a year (I am way under miles). The residual is $10,900. From what I have seen, private party is between $13,500-16,500. So even with tax (8.5%) and lets say $300 for whatever fees, etc. My total loan would be around $12,200. The longest I would keep the car after the lease is up would be maybe 8 months.
Am I missing something? Wouldn't a buyout be a better idea?
