Buying after lease

Hi all, new member here...long time lurker with a 17' Tacoma Sport with 11k miles. So here's my current problem and I could use some help. My lease is ending in early August, and because the lease is with Fusion, the buyout is 32k. Yikes, right? I love the truck but I'm struggling with what to do as far as buying or leasing/buying something else. Other options include the Ranger; I drove it and liked it...but the XLT model was missing some key features that I love in my Sport, like wireless charging, push button start, moonroof, and sliding rear glass. Not feeling the GMC/Chevy models nor the Gladiator or Ridgeline.

So I need some advice here...is that buyout price insane? Is it a well known thing not to buy after lease?

 

I mean...that might be slightly high, but not by too much.

Itll be three years old, right?

 

Oh! And welcome to tacomaworld, man.

 

Welcome Chris
So it’s a 17 for 32 k with low mileage. You know how it was taken care of.

 

Thanks! Yes I got it in August of 17'. As you can see I don't put on too many miles...Train station and wfh, and trips to stores and local family. So while the appeal of a shiny new truck is nice, I'm just not sure its worth it when I have something that Ive kept in pretty good condition. The buyout number scares me a bit though for sure.

 

With a average of 4K miles a year. Sounds about right.

 

Simple question is what are comparable used '17 Tacoma TRD Sports in your area selling for? If they're well under $32k, then return the truck at lease end and buy another one used.

Not familiar with Fusion. Was the buyout price not known when you first signed for the lease? How is it scaring you now?

 

Get in there and talk numbers. Compare it to leasing Another truck

Have you put any extra money into the truck?

 

A new Ranger is probably north of 40 k.
I say buy out the Taco

 

Welcome to TW Chris

 

I'm on Long Island/NY area and SR's are going for similar money.

 

haven't put much money into the truck at all. Put in the Subaru tweeter upgrade (that's what got me hooked on this forum). LED's conversion on the interior lights, headlights and fogs, and soft Tonneau bed cover.

 

Then do it.

You would lose that money...

 

Yeah take you monthly lease payment and add 32k on top and that’s what your gonna pay for it. Over 40k for a 17’ Sport...

 

32K seems to be a very high residual for a Tacoma. My buyout will be 27K for a 2019 DCLB-OR, but my money factor was higher than I would have liked.
Leasing then buying is the most expensive path toward ownership but you know exactly what you are getting with your used car purchase. If you can get 0% APR it might be wise to trade into a new one in your case.

 

If it were me I’d renew the lease with a 2020, then maybe buy the 2020 eventually. The new features in the 2020’s are worth it to me.

 

Likely won’t find a lower mileage one with those options for significantly less if you like it.

 

Welcome, and just go back and check your lease to see if they backloaded the lease to get your monthly payment lower. With leases it’s all about the residual, it they valued your truck correctly at the beginning of your lease your probably fine and the price is correct unless you rolled a bunch of upgrades into the lease too.

 

yep this is the dilemma. I've already been paying for it for 3 years, and now add another loan on top of that and I'd be paying all in well over $40k for it. The flip side is I know the truck, took care of it, etc. I appreciate all the thoughts and think I do need to consider talking to the dealership so see about options on a new one for sure. Thanks all!

 

Not trying be rude, but that ship has sailed, nothing you can do about it now. What you paid on it, doesn't affect the deal numbers today, you could add the rental payment to any vehicle you buy, but don't bother, it's gone.

That's the way high resale vehicles work, 2-3 year old ones, has most looking to just buy new.

GL