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End of lease buyout OR get another used car?

boingboingkaiboingboingkai Posts: 1
edited July 2014 in Toyota

Hi guys,

It's my first post here! :) I come with a question regarding a decision I have to make in a few weeks.

I'm currently leasing a 2012 Toyota Camry with only 15k miles on it. The lease is coming to an end in September. Rather than committing to another lease for a newer model, I'm trying to decide on 2 options:

  • Buyout the current lease at $17k (non-negotiable according to contract)
  • Spend that same amount (17k) on a used BMW with around 55k miles.

I have enjoyed driving the Camry which has power seat, and a sun/moon roof. But just thought that if I were to get another car, I would probably try to go for another model.

I know it can be a very personal choice, and it really depends. But I'd love to hear your take on it.

Thank you!

Comments

  • stickguystickguy Posts: 33,365

    think hard about your needs, and if you want something "plug and play" with no maintenance, or take on a more expensive to maintain car. Is the style/badge important? Or are you looking for performance?

    if nothing else, you know that the Camry was taken care of, right? and hard to find with such low miles, and they do hold their value.

    2019 Acura TLX A-spec 4 cyl. (mine), and 2013 Acura RDX AWD (wife's)

  • graphicguygraphicguy Edmunds Poster EmeritusPosts: 11,545

    @stickguy said:
    think hard about your needs, and if you want something "plug and play" with no maintenance, or take on a more expensive to maintain car. Is the style/badge important? Or are you looking for performance?

    if nothing else, you know that the Camry was taken care of, right? and hard to find with such low miles, and they do hold their value.

    Good advice here.

    Some have had good luck with BMWs that are out of warranty (me included). Some have not. If things go south on a BMW, repair bills are significant (being kind).

    But, a BMW will offer much better driving enjoyment than your Camry will. But, if you only drive a few thousand miles per year, does it really matter?

    You sacrifice what's likely to be a car that will last another 10 years (Camry) with little outlay for maintenance and repair, for another car that offers much more driving pleasure but with the possibility you would be staring down some large maintenance and repair bills.

    Those are your choices.

    Now, if you want to lease again, and you really like BMWs, they offer some pretty nice leases for low mileage drivers.

    2018 Acura TLX 3.5 SH AWD A-SPEC
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