Quote:
Originally Posted by Alfisti
Revisiting this as we are paying some $850 a month on a Stelvio that we are barely driving. Now we write this off but still, it is a significant expense.
I called the dealer and yeah no luck offloading it etc, the numbers just do not jive. Right now the car has barely 5,000 miles (7,500km) and is approaching the end of it's second year of the lease, I anticipate it will have in the region of 18,000 to 20,000 miles by the time it is due to be returned in 2 years.
So I may play this backwards, residual will be just 29K, I can re-up the lease for say 3 more years on the residual or buy it out. I have two sets wheels and tyres etc, the wife absolutely LOVES the thing so if I can steal 3 cheap years out of it, so be it. I mean at 18,000 miles, car is still like damn new.
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You could always buyout the lease now and potentially sell it. With the way the used market is you might be able to at least break even or get reasonably close. Obviously it depends on your buyout, the local market and taxes.