First let me say thanks in advance for your guidance! My lease is up in 2 months and not sure whether to walk away or purchase. This is my first lease and not sure of how it all ends. It's an 06 6MT coupe with only 21,000 miles on it and is in pristine condition. I can purchase for $21,400. Train of thought#1: I know this car and how its been taken care of and I don't know of anything else in that price range I would be happy with. I hate to turn it in and let them profit even more by turning around and selling at a higher price. Thought#2: I tried to work a deal this past weekend on another make that I thought I could be content with (Same dealership that sells multiple brands) and they only wanted to allow me $17,000 trade-in. Said I would be better off riding out the next 2 mos to satisfy my lease and then make a purchase. If that's the case why validate thought #1 in buying a car that I'm $4,000 upside down in before I even sign the deal? Please give me your thoughts and input on similar experiences as I'm totally lost at this point! Again, much gratitude!

 

you wont be 4000$ upside down. The dealer is only going to offer you wholesale price on a trade-in. Check www.kbb.com to check the retail value of your car.

 

Jax, Thanks for the input. Still confused though...isn't "upside down" defined by how much you would still owe versus what someone would give you on trade? Checked the KBB link and it come back with $21,000-22,000 ish, but that's retail. That's not what they offer on trade nor what we want to pay as a buyer, so that doesn't seem to be an accurate guideline. I'm I overlooking something?
Thanks again, and keep the input coming guys as I'm still unsure of what to do.

 

If you like your 06 MT and want to stay with a G35 in the future, I would compare the purchase price (21,400) with comparable coupes in your market. If you find one for quite a bit less, say 18,500 I would get the cheaper on as long as it is in good condidtion. If you can't find anything cheaper, then buy out yours. If you do end up buying, I would sit down and calculate the total cost of ownership of lease payments + buyout to see how you did versus buying it in the first place. Knowing that, you may figure out you'd be better off purchasing instead of leasing or vice versa. Good luck!

 

you wouldn't be upside down. Upside down means you owe more then the car is worth, and car is worth roughly what it is listed for in KBB, not what you can get for it at trade-in. And there is no reason you would take trade in for it, you either buy it and keep it for a few more years or get something else. That being said, you can easily get an 06 for 21k if you look around so it's not like they are cutting you any kind of terrific deal. At the end of your lease you are basically back at square one. You just have to decide if you want to buy the car you have had for the past couple of years, buy something else, or get another lease.