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Lease ending - Buy vs Return

a_rav31a_rav31 Posts: 3
edited January 2017 in Lexus
I leased a 2015 Lexus ES 350 for 328 per month + 5500 down for 27 months, 27k miles.

My lease is now ending and my car has a residual of 26,600k (calculated for 66% residual).

I always had the intention of buying the car at the end of the lease.
But the kbb value on my car shows to be less than or around 26k and I only have 16k miles on the car currently.
Is it a good option to buy the car (My state makes us pay the complete sales tax while leasing the car, so the final cost of buying the car now will only be 26,600)

Is it a good idea to stick to this car, or return it!!

I don't think I will go for a lease anymore. Looking to buy a 2018 ES or CPO BMW X5. I am not looking for a new car and love my current car enough. Just looking to make a wise decision based on price.

Comments

  • Mr_ShiftrightMr_Shiftright Sonoma, CaliforniaPosts: 64,490
    Well it looks like they put a fairly high residual on the car to keep your lease payments down, and even with your substantial down payment, I'm not surprised there's no equity in the car.

    I don't see why that one factor should deter you if you like the car. After all, every person who buys a brand new car goes negative the minute they drive it off the lot. The same is true if you buy a CPO car.
  • MichaellMichaell ColoradoPosts: 153,442
    I agree with @Mr_Shiftright - you know the history of this used car, and if you like it, why not buy it and keep it for years and years? If you take car of it, it should last 10-15 years.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


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    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

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