Tips on Buying Cars: Lease Turn in or buy out or buy new, mfg warranty, buyout price

Question
QUESTION: We have a lease that is due by the end of the year, our last payment is due at the end of this month. We are trying to figure out whether to buy the car or turn it in and buy new. We are 10000 miles under our plan. It is a Q7 and repairs can be expensive. If we buy our lease vehicle, we are looking at extended warranties. It would be nice to reduce payments monthly, but the warranty would bring it to around the same cost.
Any thoughts, suggestions on your end?

Thanks!

ANSWER: Hi MLeigh,

First let me say I never have liked a car lease on average to many things go in the wrong direction and the lessee get burned.

In your case with the info you provided the 10K under the plan comes in heavy, provide me with your zip code and buyout price and I will be happy to share what my direction would be.

Yes the full Mfg warranty will come into play, but it's another area, let's first deal with the buyout plus taxes,,, any other fees that I may not be aware of ? ,,, the Q7 is model year ? did you buy any after market for the vehicle ?

Ray  http://www.usedcartips.org/

---------- FOLLOW-UP ----------

QUESTION: Thank you for your quick response. The buy out is approximately 23000 give or take and with taxes/fees/licensing just under 27000. 78734 is my zip.

ANSWER: Hey,,, LOL,,, the year ?

---------- FOLLOW-UP ----------

QUESTION: it is an '09. Can you trade in a lease vehicle?

Answer
Hi MLeigh,

I did you zip code through autotrader and only found about 5 for sale within 100 miles, at $23K buyout and under average miles buy it if you like the vehicle it's a bargain even if it's a base model ???? which I don't know,,, getting info out of you is like pulling teeth,,,lol

The title is not in your name therefore you can't trade unless you buy out and even at around 27K your still ahead a few grand should you decide to sell.

I know you got a 4 yr 50,000 mi basic factory warranty from in service date ?,,, how many miles on car now and when was your in service date ? " the date you picked up the car "

I know the warranty will come into play and I will tell you how to shop getting the best price but first answer the above Q.

Ray

PS,,, this thread is getting to long answer me at paulsenray@yahoo.com