Author Topic: Car Finding gauntlet for the logistically challenged  (Read 636 times)

Illillis

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Car Finding gauntlet for the logistically challenged
« on: May 14, 2018, 09:04:25 PM »
Hello all,

Need a real left brain right brain combination here to help figure out the logistics of a situation:

The situation
Currently, I am leasing a 2016 Jetta. 36k mile lease with 27k miles on it. 5-speed manual, averaging 43mpg on the way to work, 49mpg on the way home. 15mi 1 way.

The lease has 8 months left on it, with the vehicle scheduled to be valued at $10,323.50. Payments are $148.88/mo

The dream
Looking to get into an electric, hybrid, or high-efficiency gas burner of a vehicle. Following on recommendations here looking at the following: LEAF, VW Golf, Prius, Fit/Versa/Sonata (5 spd, of course)

The questions
Worth it to buy out early? Look to finance and sell to a stealership for higher than the 10k residual since the mileage will be under? Get a stealership to buy out the remainder on the lease and spend 5k towards a used model above and *gasp* finance the remaining balance?

What would you do?

RWD

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Re: Car Finding gauntlet for the logistically challenged
« Reply #1 on: May 15, 2018, 06:59:47 AM »
What would it cost to buy it out now?

Illillis

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Re: Car Finding gauntlet for the logistically challenged
« Reply #2 on: May 15, 2018, 12:31:37 PM »
Payoff quote as of today is: $12,163.68

FIRE47

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Re: Car Finding gauntlet for the logistically challenged
« Reply #3 on: May 15, 2018, 01:48:38 PM »
I guess if you could flip it to make money why not?

The main decision factor is what is it actually worth? The dealership won't give you market value if you go to sell it to them as they need to make money reselling it at market value later.

Let's say you buy it out for 10k, you'd want to see them selling at about 14k before you'd have enough room to make any real money off of this even then you'll have to shop it around and waste some time dealing with these guys.

Your best bet is probably just to buy it out and keep driving it if it is such a good deal, or to resell it privately and keep the dealers cut out of it - otherwise I doubt there is much to be made here. Was VW lease calculation that far off?
« Last Edit: May 15, 2018, 01:51:34 PM by FIRE47 »

Illillis

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Re: Car Finding gauntlet for the logistically challenged
« Reply #4 on: May 15, 2018, 04:30:53 PM »
Let's say you buy it out for 10k, you'd want to see them selling at about 14k before you'd have enough room to make any real money off of this even then you'll have to shop it around and waste some time dealing with these guys.

Your best bet is probably just to buy it out and keep driving it if it is such a good deal, or to resell it privately and keep the dealers cut out of it - otherwise, I doubt there is much to be made here. Was VW lease calculation that far off?

I think this ought to be the plan. Just continuously put it up for kbb/edmunds value to buy it off while saving for another ride. You're right, it does get good mpg and with my main commute really being well designed for "hypermiling" it should maintain its value for longer than the average ride.