Buy out a lease or not???

[freezy74]

So the lease on my 2003 sport is almost up, and I have to say, i'm almost bummed. I was thinking about just leaseing a new one due to the extra power and small improvements and i just dont know if its worth it to but out a lease. AT the end of the lease, the truck will have about 39,000 miles and the buy out is almost 22k.

any suggestions?

 

[Jeff Kleb]

22k sounds a bit on the high side, sir. You still have 39,000 miles on it, right? The trick is whether or not you could get more than 22k on the market by selling it yourself. (I doubt you'll get that in a trade, but you never know.)

My '05 (had for 13 months now) SR5 4x4 has a buyout of 19k after 36 months (January of 2008). I suppose its value at that time will depend on the price of gasoline.
:arrow:

That aside, maybe you should buy it out and keep it - provided you like driving it and it has not given you any trouble. Otherwise, you might be able to turn it in for a new lease and drive off in an '06.....if you don't mind having an eternal payment.
:bash:

Check with the stealership and see if they'll work with you on getting an '06. They should, as they'll make some money on the new one and will be able to sell your '03 on their used car lot. Try.....you never know what may come out in the wash.

 

[faster4runner04]

If it were me I would lease a new 06. Do you lease from the dealership or a leasing company?

 

[Jeff Kleb]

If you are a member of Costco, see what the 'recommended' stealership can do for you. It is the easiest, "no hassle" way of buying or leasing car I have ever tried. You do it on-line at Costco.Com and then a sales manager from their local Toyota affiliate will contact you and arrange for a test drive.

All you do is show up and they'll put their cards on the table. If nothing else, at least you will have a starting point from which to negotiate elsewhere. Oh, but be sure your credit rating is excellent - as it will greatly affect your lease payment/rate!