Quote:
Originally Posted by mikemhg  Thanks for the advise folks, what are your thoughts for resale value, though?
There's about 8 grand put down on my lease, so I'd prefer to buy it out and sell it end of lease, the car has been babied and has minimal KMs.
Would the discontinuing of the coupe be a barrier to resell? I guess that's too soon to tell, just curious if it's better to return the vehicle back to the dealership at the end of term. I'd prefer not leaving money on the table, though. |
Usually lease works in a way that they determine the residual value (what's worth after x amount of time) and you pay for that entire chunk of depreciation. Whatever you put down (assuming it's a downpayment and NOT a security deposit, which would return in full after the lease) only reduces your monthly payment (say it loses 15k in 3years. Meaning you have to pay 15k+interest in 3yrs. By putting 8k down, it leaves 7k+interest to be paid in the 3yr period)
You would only be leaving money on the table if you get out of the lease early (so you paid more of that chunk than a person who did 0-down). But at the end of the lease, it's really irrelevant how much you put down.
The only thing I can think of is that the residual is unusually low comparing to the market price with the mileage you have. I.E: a 3yr civic with only 30k in odo is worth 20k on craigslist vs. 15k residual... in that case, it makes sense to buy it out at the end of the lease and sell it yourself.
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