Lease almost up

2021 sr5 with 37000 miles lease up in 2 payments purchase price is 25400 with 7% sales tax should I buy it or give it back need some feedback Thanks

 

Sorry 4x4 double cab 5 ft bed metallic red black wheels

 

Say goodbye

 

Partly depends on the number of mods you made. Any non-removable mods are just lost money, and you may have a truck you would rather keep than start over. No new 3rd gens, so you would risk another unknown used, or go with a 4th Gen

If you like the truck, stick with what you know the history of ... my opinion.

 

If you like/need it, and it’s less than market, well then Yes! Your added wheels mean nothing to market, maybe even reduce resale. If they do you, then factor that.

 

Just for s&g, I looked up what Carvana would be selling mine at with similar mileage (if I'd sell mine in the first place. ~$41k...

So if you love yours and it's a fair price then the answer is pretty straightforward.

 

Looking at KBB, trade-in value is about $30K, you'd spend about $32K on something comparable. Even if you don't like it, buying it and trading it it on something new gives you at least a bit of a down payment.

 

If you like your truck, $25,400 is many thousands less than market value if you had no truck and tried to buy a used SR5 with 37,000 miles.

So, do it. Unless you don’t want a truck anymore. In which case, don’t.

I would also suggest paying cash if you can. (Some econ 101 bro will try to disagree and say use the money in stocks or Roths or something, but if you’re asking for financial feedback on this purchase, I’d say go the route of avoiding a loan.)

 

Some good advise here. I agree with others. Keep it. More to your advantage once pay-out is paid off IMO.