Buyout 2007 or lease 2012?

[Walnutcrunch]

My 2007 5dr is up for the lease and I can buy it out for $8000 cdn all taxes included. It has only 32000 km on it rear ended twice, small accidents.

I don't need to finance to buy it out.

Or I could turn it back in and lease a 2012 no money down and my payments would stay the same. Not surprisingly the dealership is pushing the lease.

The 2012 doesn't seem like a huge improvement other than the air bags.

It doesn't seem like I'd be getting a bad deal by buying it. Thoughts?

[WeeYari]

Where do you want your money to be 5 years from now? In your pocket, or padding the bottom line of whatever financing agent you'd be using.

I personally would never lease unless I was in a situation where lease payments could be written off.

[CPALK719]

i prefer owning a vehicle myself. but you said it was rear ended twice?? if you have the money why not buy a new 2012 and start fresh. its great to have a vehicle with no payments, but it is also awsome to get a brand new one !! good luck with whatever you do.

[12 yaris]

Since you've had the car for awhile,Do you enjoy it?
Has it given you any problems?
I personally think the new Yaris is much better,however I would
never lease anything.
So, my thoughts are what Crammer would say,BUY,BUY,BUY,BUY.
The used car market has changed so much,8K is not alot of money for a car
today.

[daf62757]

Originally Posted by Walnutcrunch

My 2007 5dr is up for the lease and I can buy it out for $8000 cdn all taxes included. It has only 32000 km on it rear ended twice, small accidents.

I don't need to finance to buy it out.

Or I could turn it back in and lease a 2012 no money down and my payments would stay the same. Not surprisingly the dealership is pushing the lease.

The 2012 doesn't seem like a huge improvement other than the air bags.

It doesn't seem like I'd be getting a bad deal by buying it. Thoughts?

I would keep the 08. You could always turn in the car and when they try to sell it, you can negotiate the price down or even look for another car with similar kms and get a lower price.

If you aren't going to have to pay a lot of penalties at turn in you might be better off using the money to buy another Yaris. $8k seems like a lot, and the CN $ is more than the American $ so you should be able to get a better deal....but this is all academic until you start signing your name and handing over money.

Good luck!

[Walnutcrunch]

The buyout price for me is about 6800 I think, but there is a 400 dollar charge and the rest is harmonized sales tax.

Given advice on this board, and some other thought I think I'm just going to buy. If I decide to sell in the future, Toyota will always give me a lease. It's not like I'm getting any kind of special deal.

If I keep the car 5 more years, it will have cost me 8k up front with no financing.
If I turn the car in now and lease a new one for five years, it will cost me 15k, with a 7k buyout.

So it makes sense for me to buy now, and down the line I can always sell and I won't have really lost anything.

[Billiam]

I would throw them an offer and see what happens. Often times they will lower the purchase price a little. They really don't want the car back 99% of the time.

[5thhorseman]

You could buy yours turn around and sell it,make $1500. At least.then go lease another one and get ripped off,so buying it seems win win to me.( but just saying )

[tooter]

Originally Posted by Walnutcrunch

My 2007 5dr is up for the lease and I can buy it out for $8000 cdn all taxes included. It has only 32000 km on it rear ended twice, small accidents.

I don't need to finance to buy it out.

Or I could turn it back in and lease a 2012 no money down and my payments would stay the same. Not surprisingly the dealership is pushing the lease.

The 2012 doesn't seem like a huge improvement other than the air bags.

It doesn't seem like I'd be getting a bad deal by buying it. Thoughts?

If I were you I'd buy it, too. 20,000 miles on a vehicle is nothing.

[MadMax]

Keeping the car you have would be financially better in the long run...

If there's nothing wrong with it, why get rid of it?

Good luck! M2

[Em_]

buy it

[junorico24]

Originally Posted by 12 yaris

Since you've had the car for awhile,Do you enjoy it?
Has it given you any problems?
I personally think the new Yaris is much better,however I would
never lease anything.
So, my thoughts are what Crammer would say,BUY,BUY,BUY,BUY.
The used car market has changed so much,8K is not alot of money for a car
today.

YES
NO
I haven't seen the new one on the roads here in Sydney and I haven't tested one.


I will keep my 2 door O7 black LB. lol