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Keep my Leased Outlander?
The lease for my 2007 Outlander will expire in July and I must make a decision by Wednesday. At this point one thing is for certain: I will be driving an Outlander in July. That being said, the questions remains whether I'll buy my '07 Outlander out of the lease or lease a new one.
I currently have a FWD LS model with just over 31,000 miles on the odometer. As everyone here must know, 2007 was the only year where the V6 engine was standard on all trim levels. The buyout is around 13,700 before tax, just beneath the TMV. However, the Sun and Sound package should boost the market value considerably. And I presume that, were it time to move this car, a straitened youth would naturally be my target buyer and the Rockford Fosgate sound system would be a big selling point. My car hasn't had any issues -- I take it these cars on reliable, despite J.D. Power putting them in the same class as VW -- but I'm an individual and won't heed their potentially prejudiced findings. Another criterion that I should ignore but can't, is that my car has overwhelming sentimental value. It is my first car and I have had great experiences with it and I feel it has a lot of life left in it. I would finance the car for 5 years and finally gain equity of the car with about 20k miles remaining on the powertrain warranty. Hopefully, I'll come into money and buy the car out before that.
On the other hand, I can lease new one. Unlike my '07, the '10 will be sparing on features. Although mated to a commendable CVT, I'll be stuck with a torpid four cylinder, comparable to many competitive vehicles in the compact SUV category. I wouldn't have the great sound system either. Aside for slightly better fuel economy, the biggest pluses would be aesthetically. I'll really fond of the new Outlander exterior styling. I would also not make the mistake of beige cloth upholstery. Sure, it looked like a classy complement to the black when I got the car, but I quickly regretted that decision. As someone once told me, every manner of stain will cling to the beige cloth and boy could anyone have spoken more prophetic words. And were I to lease another one, Mitsubishi would cover all stains and nicks as part of the Mitsubishi loyalty program. It would be nice to support Mitsubishi, b/c they move far too few Outlanders from the lot. There is an air of futility in my local Mitsu dealership and, the two times I have dropped by, I have not seen another customer in the show room. As much as I try to promulgate the virtues of the Outlander, it is all for naught. Mitsubishi's reputation is a blight on Outlander sales and that is unfortunate.
Any thoughts or suggestions? I know I should provide a little bit more info.