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

technoraptor1

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.

kyfdx

technoraptor1 said:

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.

technoraptor1

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.

kyfdx

technoraptor1 said:

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.