Buyout of lease?
Hi Guys, Got a question for you all.
Our lease is coming up next month. We have been on the lookout for a replacement of our vehicle( we are not planning on keeping it). I am waiting on a decent deal on another vehicle(have one in mind just waiting on it coming available).
Lease ends at end of sept. We have a 2016 mazda 3 GS, Hatchback, Auto. Approx 70K on it. White Pearl. No scratchs on it aside from under bumper from curb rash. Have mazda roof racks and winter tires/rims which are in great shape. Summers are in great shape. No mechanical issues. Only electrical issues are The rearview camera goes funny once a month, and the rear right locking mechanism is a little noisy in winter time. Aside from that its in very good condition. I replaced the rear pads a couple months ago. Rotors are in good condition. Have not done the transmission service yet, but will if we buy it out.
The buyout is 9200 for all intents and purposes plus tax. I will likely have some fees and a safety so lets ball part around or under 11K to get it in our possesion.
It will pass safety and has no deficiencies.( I inspected it about 2 months ago)
Is it worthwhile buying it out and then selling it private once we find the car we want?(Option A) I work as a technician at a dealer and waiting on a specific trade in vehicle(is not very common model).
Option B is giving it back then renting short term till we find the car we want?
Option C is going with a new Mazda CX5(was hoping the new engines would be out by then but looking unlikely) for the wife.
Thank you all for your input and the time you have taken to read the post.
Our lease is coming up next month. We have been on the lookout for a replacement of our vehicle( we are not planning on keeping it). I am waiting on a decent deal on another vehicle(have one in mind just waiting on it coming available).
Lease ends at end of sept. We have a 2016 mazda 3 GS, Hatchback, Auto. Approx 70K on it. White Pearl. No scratchs on it aside from under bumper from curb rash. Have mazda roof racks and winter tires/rims which are in great shape. Summers are in great shape. No mechanical issues. Only electrical issues are The rearview camera goes funny once a month, and the rear right locking mechanism is a little noisy in winter time. Aside from that its in very good condition. I replaced the rear pads a couple months ago. Rotors are in good condition. Have not done the transmission service yet, but will if we buy it out.
The buyout is 9200 for all intents and purposes plus tax. I will likely have some fees and a safety so lets ball part around or under 11K to get it in our possesion.
It will pass safety and has no deficiencies.( I inspected it about 2 months ago)
Is it worthwhile buying it out and then selling it private once we find the car we want?(Option A) I work as a technician at a dealer and waiting on a specific trade in vehicle(is not very common model).
Option B is giving it back then renting short term till we find the car we want?
Option C is going with a new Mazda CX5(was hoping the new engines would be out by then but looking unlikely) for the wife.
Thank you all for your input and the time you have taken to read the post.