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Buy out the lease -- does it make sense here?

technoraptor1technoraptor1 Member Posts: 6
edited August 2023 in Maserati
In 2019 I leased a Maserati, which it is now coming to an end.

2019 Maserati SQ4
MSRP $96,450
Gross capital $75,439

Original lease was 39 months, $975. $4k due at signing.
Total of payments $41,724

Residual $43,402
I was just quoted, with bumper to bumper 4 year total car mileage 90k, and tax fees
$53,250

72 month lease $958 at 8.5%
60 month $1115

Is this an OK deal? I am looking at it as this, the $41,724 put into it with the lease payments + $53,250 now = $94,974.


Comments

  • kyfdxkyfdx Moderator Posts: 236,830

    In 2019 I leased a Maserati, which it is now coming to an end.

    2019 Maserati SQ4
    MSRP $96,450
    Gross capital $75,439

    Original lease was 39 months, $975. $4k due at signing.
    Total of payments $41,724

    Residual $43,402
    I was just quoted, with bumper to bumper 4 year total car mileage 90k, and tax fees
    $53,250

    72 month lease $958 at 8.5%
    60 month $1115

    Is this an OK deal? I am looking at it as this, the $41,724 put into it with the lease payments + $53,250 now = $94,974.


    Doesn’t matter what you’ve paid so far. Is the value of the car more than the residual? Do you want to own a 4 yr old Maserati?
    Also, those are new finance payments, not lease payments, right?

    One warning: Warranties on used cars are never as comprehensive as the original new car warranty, no matter what the seller may tell you.

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  • technoraptor1technoraptor1 Member Posts: 6
    kyfdx said:



    Doesn’t matter what you’ve paid so far. Is the value of the car more than the residual? Do you want to own a 4 yr old Maserati?
    Also, those are new finance payments, not lease payments, right?

    One warning: Warranties on used cars are never as comprehensive as the original new car warranty, no matter what the seller may tell you.


    Hey! KBB says trade in is $37k - $41.5k. Private party $42k-$48k.

    The warranty offered was the same Maserati dealer I would be working with. They warned me that maintenance items, battery, etc were not covered.
  • kyfdxkyfdx Moderator Posts: 236,830

    kyfdx said:



    Doesn’t matter what you’ve paid so far. Is the value of the car more than the residual? Do you want to own a 4 yr old Maserati?
    Also, those are new finance payments, not lease payments, right?

    One warning: Warranties on used cars are never as comprehensive as the original new car warranty, no matter what the seller may tell you.


    Hey! KBB says trade in is $37k - $41.5k. Private party $42k-$48k.

    The warranty offered was the same Maserati dealer I would be working with. They warned me that maintenance items, battery, etc were not covered.
    My guarantee: That warranty from the Maserati dealer will not cover everything the original warranty did.

    $9800 between your residual, and the total quoted price. I'd want that itemized, to see what you're paying for.

    After 39 months, your car is worth about 45% of the original MSRP. I'd see what a new lease would cost, before agreeing to buy out this vehicle.

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    Did you get a good deal? Be sure to come back and share!

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