Returning my lease or keep it?

[jasma1]

Hi guys,

Since there is not really a section for this thread, hopefully it will be all right here...

I presently lease an 06 GT and I need to return the van in 6 months from now. But here is my issue...

We presently have a second smallest car (2006). Since I'd like to get the 2011 redesigned Mz-5 (hopefully it will be!!), I need to take a decision... I have many options:

1- Return my lease and stay only with the 06 Hyundai Accent that we have until the 2011 Mz5 becomes available. (we have 2 young kids...Not too comfy, but I could tough it for a few months..)

2- Buyback the lease and pay it off over a 2 year period (I guess I will still owe 12 000$ Cdn plus taxes) and when comes the time to return our Accent in 2011, simply give the 06 Mz5 to my wife.

3- Buyback the lease and exchange it when the 2011 model becomes available.

What would be your advice on that? I hope you understand my options!

Thanks in advance for all your opinions.

 

[AwaKeN]

In my case i've returned my 5, 5 months before the lease was done, the dealer bought my 5 lasts payments, and gave me a good price for the new one. When the 2011 will become availlable i'll trade my 09 for a 2011 (If the 2011 is good for me)

 

[just ang]

I don't know if it is an option for you, but here, you can also extend your lease... Best of luck, car decisions are often tough ones.

 

[SGT_OKINAWA]

I recommend AwaKeN's plan, but I learned from my dad, don't lease. So I've not git much say on the topic.

Wish you the best of luck, keep us posted,...!

Peace!

 

[AwaKeN]

BTW jasma1, my 09 GT payments = 06 GS lease !!! Thats why i've buy it !

 

[StealthWyvern]

I recommend AwaKeN's plan, but I learned from my dad, don't lease. So I've not git much say on the topic.

Wish you the best of luck, keep us posted,...!

Peace!

leasing is only good if you dont drive much and feel you have to have a new car every 3 years or so. Plus the chance of break downs are nill... however you will always have a car payment.

 

[raspykart]

I wouldn't return it to the dealer, likely you can sell it for more than what your residual is. Try to sell it 2mos before lease is up, don't let the dealer make money on it when you could.

 

[jasma1]

Guys,

Thanks for all your good comments....

And you know, since I'm the kind that always likes to get the newer model, this is in part why I'm not so sure about buying my next vehicle.... I know it might be better for me to sell it to a particular, but I simply don't like the hassle of putting the "for sale" sign, have 10 persons trying it, and finally, ending up with more trouble selling it, than to simply return it to the garage....

Anyways, if others have experience and would like to share, I'd be more than happy to hear you.

Thanks to all!

 

[Zoom5Zoom]

Guys,

Thanks for all your good comments....

And you know, since I'm the kind that always likes to get the newer model, this is in part why I'm not so sure about buying my next vehicle.... I know it might be better for me to sell it to a particular, but I simply don't like the hassle of putting the "for sale" sign, have 10 persons trying it, and finally, ending up with more trouble selling it, than to simply return it to the garage....

Anyways, if others have experience and would like to share, I'd be more than happy to hear you.

Thanks to all!

I sent you a PM....call me

 

[KBrian]

The best plan is the one that fits you best. I always buy a 2- 4 year old vehicle with less than 10K per year mileage. I get a factory warranty if the dealer sells that model new, or a used car warranty if an off-brand dealer. Regardless, I get three years-full coverage-like a new car warranty. Purchase price is often half of new sticker.

Cars activate emotions much more than rational thought. Leasing is great for rational thinkers who treat cars like appliances, and want the best appliance for the lowest price. Us forum members treat them like children instead of appliances, and sometimes spoil our kids more than we should

 

[SGT_OKINAWA]

The best plan is the one that fits you best. I always buy a 2- 4 year old vehicle with less than 10K per year mileage. I get a factory warranty if the dealer sells that model new, or a used car warranty if an off-brand dealer. Regardless, I get three years-full coverage-like a new car warranty. Purchase price is often half of new sticker.

Cars activate emotions much more than rational thought. Leasing is great for rational thinkers who treat cars like appliances, and want the best appliance for the lowest price. Us forum members treat them like children instead of appliances, and sometimes spoil our kids more than we should

Very well put, SGT_OKINAWA Approved. (iagree)

peace!(rei)