Overhaulin'

Is it a good idea to buy my leased car?

I leased the car for 4 years and it is well under the allowed mileage. I want to know the pros and cons of buying this car or if I should buy a new car. Thanks.

Public Comments

1. Only one thing to look at: Is the car worth more than the residual. If so, buy it. If not, dont
2. If its a sweet deal, yeah, why not? You know the car, you drove it. Better than buy any other used car out there because you know the history. If your sick of the car, then just get rid of it.
3. Like the other mentioned, it all depends if the value with the current miles is worth more then the residual value. I would use www.nada.com, www.kbb.com, www.edmunds.com to get an estimate on the value of your car. It's a very tough car market. don't be surprised even with the the lower miles, the car is worth less then the residual value.
4. bad idea as you can buy the same year car and model a lot cheaper off the lot than you can buy your leased vehicle, thats why it's cheaper to lease because your not paying as much for the vehicle and your monthly payments are a lot lower during the lease but if you want to buy the vehicle at the end of your lease the dealer will make up the difference in the price that you saved during your lease.