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Asked: Jun 26, 2008 - 05:15 PM
Status: Closed
butterfly73
Lease ends 12/1/08. '04 4Runner will be over 3000 mi @.15 a mile. Plan to buy - should I purchase now? Residual value is $11,500
What charges should I expect if purchased now? All book values are higher than residual value. Plan to purchase-when is the best time-now or at lease end?
In Buying & Selling > Car Leasing > Gap Insurance In Makes & Models > Toyota > 4Runner1 answer - 516 days ago
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canddmeyer
Date: Jun 27, 2008 Time: 03:59 AM
I'd wait until near the end of the lease, just in case something happens between now and then. I mostly like my 4Runner too, but had I leased it instead of purchasing it I wouldn't have bought out the lease early. I don't recommend buying to sell it. The medium and large SUV market is tanking, and although it is worth more than market value you may find yourself unable to sell it because of escalating gas prices. If you plan on keeping the vehicle then by all means purchase it near the end of the lease. That's my recommendation.
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