Lease up soon - advice?

Joined
Dec 24, 2013
Messages
158
Location
Dingmans Ferry, PA
Looks like we're in a good position. Leased 2019 F-150 Lariat Super Crew, 3.5 EB loaded with towing package. (we were going to get a camper, but never did).
Mrs drives (and LOVES) the truck, but works at home so has just 20k miles. Truck is fast, powerful, fun to drive. It is still flawless - not a scratch or a ding.

Lease is up in a few months, residual/buyout for 31K (ish).

KBB (if to be believed), shows trade value of 43-47k, and private sale value of 47-51.

First time leasing, can we get some advice? My thoughts are to buy it outright, then decide.

Mike B
 
A lot of truck for 31k you couldn't walk onto a lot and buy the truck for that money. Will be interesting to see the bank wanting to let go of a flawless truck with 20k on the clock especially if there is a pre-inspection for end of lease trade in. I would be all over buying it off lease
 
BUY IT. Absolutely buy it. As long as there is a pre-agreed end-of-lease purchase price that's set in stone, you'd be nuts to give up the extra $10-20k cash you could pocket if you turned around and sold it. BUY IT.

That said, make sure you buy it directly from the bank or lease company! DO NOT go to/through the dealer to do it!
 
I'm in the same boat.
Do not turn it in.
The residual on my car is $9200.
My dealer offered me $15,500 to buy it.
I walk away with $6300.
Now with my Hyundai I have to sell it to a Hyundai dealer.
The only way around this is to buy the car and hang on to the title for 30 days then sell it to the highest bidder, but I will have to pay the sales tax.
So to lesson the brain damage I'm going to sell it to my Hyundai dealer.
This is a great time have have a lease expire.
 
If you turn it in, will you need another vehicle? I doubt you will be able to touch another deal like this.
We had a lease on a Lexus RX; Carvana (or one of those places) offered us $2K over lease buyout without us having to buy it.
Of course, that was before the big bucks were being offered.

I would buy the truck, if it is in the budget. That engine trans combo is excellent. I would buy it.
 
BUY IT. Absolutely buy it. As long as there is a pre-agreed end-of-lease purchase price that's set in stone, you'd be nuts to give up the extra $10-20k cash you could pocket if you turned around and sold it. BUY IT.

That said, make sure you buy it directly from the bank or lease company! DO NOT go to/through the dealer to do it!
My Hyundai dealer does not charge to buy a lease car.
Did that with another one 2 months ago,no fees.
Some do, some dont.
 
I'm in the market for another vehicle. Quite simply the prices are insane, and continuing to rise. Furthermore, when you finally find a truck you want, it's gone and it sold for well over the window sticker price. I've been looking for well over a year without results. I'd purchase the truck and take pleasure in your good choices. Price and availability are a real and difficult to overcome problem.
 
In this market, I'm thinking the dealer would love for you to turn it in at lease end. If figs you've quoted are on the money or close, he's seeing Cha-Ching $$$$$. If you like the vehicle, and the ~31k locked in, buy it.
 
Buy it for sure! Even if you didn't like the truck this is an easy choice. With a buyout that significantly below the current value of the truck someone is going to make a bunch of money selling it. That person may as well be you!
 
We just bought our leased camry hybrid. I think it has 15k left on it and carmax offered 26k for it. That’s almost what it was new. I plan on selling the camry once our ford maverick is finished being built in 6-8 weeks. I would definitely buy your truck.
 
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