Residual Values

[stillageek]

I'm 2/3rds the way through my 3 year lease on my 2008 Mazda5 GT. This is my second lease. Previous was a 2005 Acura TSX. I drive very little. I leased my Mazda5 March 2008 and currently have 16200 miles.

With my Acura my "trade in" value was always higher than my residual + remaining payments. I was able to trade in my TSX 4 months early and got money back as the trade in value was above the residual+remaning payments. On my Mazda5 I'm surprised that this isn't the case.

My residual value in March 2011 is $12,100. My current balance (residual + remaining payments) is $15600. Current trade in value is $12500 in average condition. Fairly low IMHO.

For those that have leased/sold their roughly 3 year old Mazda5's what kind of prices/trade in values did you get?

My Mazda5 is a great vehicle. Dependable (true I drive very little), stylish, great gas mileage, but I don't plan on keeping it/leasing another when the lease is up.

 

[KBrian]

Check with Edmonds (lemonade guide) for residual value in your area.

Pre resession prices for used vehicles were much stronger than post. When new cars are heavily discounted but still sit on the lot, used prices fall as well.

 

[mazdadude]

The cheapest leases I ever did were a 96 Honda Civic and an 98 Acura Integra. (bowdown)

In each case, I was able to roll out of the old lease and into the new using the residual value profit to help pay the deposit on the next lease.

Ironically these two cars were also the most boring, and most reliable cars I have ever leased. (yawn)