36 mo @ $300/mo = $10,800 left on your lease.
Getting out from under the lease right now is probably ~$4,000 net once you factor in transaction costs to buy and sell the car. Of course, that leaves you with no car.
So, can you get a used car for $6,000 that will have similar operating costs (gas, insurance, maintenance) for the next 36 months? That $6k needs to include transaction (tax, title, license) and financing costs.
And Possibility 1 will almost certainly be a bad financial option. But, if you get to the end of the lease and the KBB on your car is substantially higher than $11k it's easy math. Reality is that residual values are usually considerably higher than current market values.