End of Lease Decision!

[Kr33m0]

Wanted to hear what some of you did when your lease was up on your stinger? Did you purchase or upgraded? What was the experience and did you come out on top financially? My lease ends 9/2022 and pondering if it will be a better deal to buy or to move on. I do love the Stinger though!! Thanks!

 

[chattanoogastinger]

It would depend entirely on the terms you agreed to.

 

[CKeeler]

Wanted to hear what some of you did when your lease was up on your stinger? Did you purchase or upgraded? What was the experience and did you come out on top financially? My lease ends 9/2022 and pondering if it will be a better deal to buy or to move on. I do love the Stinger though!! Thanks!

Bought mine. I still love it. I’m not keen on the new tail lights

 

[The Madhouse]

Buy it, then sell it to carmax. My buyout was 27k carmax gave me 34k

 

[JSolo]

Alex on autos had a segment on this recently. He made ~10g's selling it to vrooom.

 

[MerlintheMad]

I say that if you still have your Stinger, then you are on top. Keeping the car makes financial sense; it isn't an investment: inflation does not increase value, only how much things cost.

 

[JSolo]

I wish I sold the honda that way. Would of yielded 3gran more and much more convenient without having to drive anywhere.

 

[Kr33m0]

It would depend entirely on the terms you agreed to.

Are you talking about the lease term? I did 36months.

 

[Kr33m0]

Buy it, then sell it to carmax. My buyout was 27k carmax gave me 34k

What did you get after that?

 

[Kr33m0]

How does the current high used car prices impact the buyout or it does not? Would a higher value retention be better for a buyout? Also, having not put a lot of miles due to working from home during covid, would that factor in as well?

 

[Yeti]

This is my final lease month on a 2019 GTS AWD. Talked to dealer. Not sure if I will turn it in at end of the lease, buy it out or trade in on 2022 GT2. Dealer offered $12,000 cash and a ride home if I turn it in. if I trade it in on a 2022 GT2 they are asking full msrp for the GT2.

problem with buying out lease and then selling on vroom, carvana is I would have to pay the sales tax on the residual value. if I turn it back in to the dealer I will avoid paying the tax.

I have almost a month to decide

 

[chattanoogastinger]

Are you talking about the lease term? I did 36months.

What is your residual? Any fees due at return?

Obviously the terms dictate whether you buy it or not.

 

[Harshman]

I bought it. Where else was I going to find a used car for ~14k below Book value AND know exactly how it was treated. Oh, and I really like the car. New cars are nice, but there were not enough changes to the MY22 for an upgrade. Kia finance was slow but they got the job done. Took them about a month.

 

[The Madhouse]

What did you get after that?

My son and I are going to work on this until he turns 16. Then it's his. He picked it out but I concur.

 

[Yeti]

I am leaning towards buying mine out too. Residual is $25k. Vroom offered $40k, Like said above No where to buy a used car now for well under book value. Will see what dealer offers when I visit them in a few weeks to give them a check.