Lease buy out - your input is appreciated

[qwert97]

I have a 2004 Sienna CE which has only 50K on board. MY lease will end at the end of August. The buyout is $14K.

At the end of Dec I had to install new tires and it needed new brakes around 45K which I got done. I am considering a buyout since it has got low km and it drives beautifully.At Autotrader it is selling at around $18K-$19K.

Another option is that I buy the car, sell it privately and use that for a brand new Seinna (2009).

I will appreciate your input.

[thephenom]

If it runs fine, and fits your need. I'd buyout the 04 Sienna unless there are other reasons to look at an 08. Use the money else where.

[iluvmikeharris]

I have a 2004 Sienna CE which has only 50K on board. MY lease will end at the end of August. The buyout is $14K.

At the end of Dec I had to install new tires and it needed new brakes around 45K which I got done. I am considering a buyout since it has got low km and it drives beautifully.At Autotrader it is selling at around $18K-$19K.

Another option is that I buy the car, sell it privately and use that for a brand new Seinna (2009).

I will appreciate your input.

You should never give back a leased vehicle with near new tires. If the tread is past the acceptable wear, buy used ones before you return it.

[AGR-1]

There is the possibility that by August the van will be worth the residual or slightly less (there is no equity for you), if you want to keep an 2004 it would make sense to keep your own 2004.

If you are looking for a newer vehicle its a different scenario.

How much is your dealer prepared to give you today for your van?

What is your dealer prepsred to do to get you out of your van and into a new 2008? Look into this possibility you might be surprised.