2018 Evoque SE Premium -- Keep it or Return the lease ?

naveenvnaveenv Member Posts: 14
edited November 2020 in Land Rover
Hi All ,

I have 2018 Evoque SE Premium with 16,700 miles on it. lease is up in 5 months and I drive may be 3000 miles.
dealer is offering to buy the car now @ $35220.34 (All inclusive TAX+Other cost) or offering to lease a new car by returning it and they will wave 3 months lease.

my question is if I buy the car and use it for 2 more years , do I get any equity in the car or it will depreciate a lot ? Also concerns on RR maintenance issues every body is talking about.

I am also thinking to go down to economy but almost every basic car is @ $30k to $35K.

what do you guys suggest, keeping the car or going for a new economy car with same amount of money ? which will have the more depreciation?


Thanks in Advance.

Comments

  • naveenvnaveenv Member Posts: 14
  • MichaellMichaell ColoradoModerator Posts: 209,880
    naveenv said:
    I've asked for some of our regulars to pop in and give you their opinions.

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  • oldfarmer50oldfarmer50 Member Posts: 20,587
    Given the RR’s reputation as a money pit as it ages I wouldn’t want to own one out of warranty. They are said to depreciate like a falling rock.

    Also right now dealers are paying more than cars are worth to get inventory. That’s something which will end soon so getting rid of it at this time might be a good financial move.

    Bottom line, if you really, really, love the car, keep it. Otherwise, send it down the road.

    2019 Kia Soul+, 2015 Mustang GT, 2004 Chevy Van, 2000 Chrysler Sebring convertible

  • au1994au1994 GAMember Posts: 2,915
    I would ride the lease out and if you really like it, run the numbers on purchase (with a good, comprehensive extended warranty) vs leasing another one. These are good looking vehicles inside and out and drive like a dream, but the problematic reputation is well deserved.

    Given those numbers, 2 more years of use and RR depreciation. I don’t see you having equity. Unless you put a boatload down of course.

    2021 Jeep Wrangler Sahara 4xe Granite Crystal over Saddle
    2017 BMW X1 Jet Black over Mocha
    2011 BMW 328i Jet Black over Tan

  • naveenvnaveenv Member Posts: 14
    @au1994 @oldfarmer50 Thank you guys for giving your thoughts on it.

    It is really good looking car and good luxury as well but honestly I didn't like it a lot like my previous 328. I am worried on the same after warranty expenses and maintenance issues.

    I will return it and look for something new. Thanks guys.
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