BoogieEngineer Posted May 8, 2016 Report Share Posted May 8, 2016 I started leasing a 2016 Edge Sport almost 2 weeks ago and very happy with the car. I'm thinking if during the lease term it won't give me any problem then I may buy it out. How many of you bought out your Edge after your lease was up? Quote Link to comment Share on other sites More sharing options...
cv27 Posted May 8, 2016 Report Share Posted May 8, 2016 I purchased my 2011 Edge after lease to sell it right back, with an interesting profit (because of low mileage). Quote Link to comment Share on other sites More sharing options...
WingNut Posted May 9, 2016 Report Share Posted May 9, 2016 I love my leased edge (2015. One year in to lease). I'm not sure if I'll buy it but I'll definitely want a vehicle similar to it at lease end. So it depends on my situation in 2 years. If my annual mileage is still as low as it is now, I may just jump in to another lease on a new vehicle. If my mileage is increasing, I will look at my buyout price (which of course I already know) and compare it to whatever else is out there. If I don't keep it and there is profit to be made on the buyout, I'll do that. Quote Link to comment Share on other sites More sharing options...
BoogieEngineer Posted May 10, 2016 Author Report Share Posted May 10, 2016 Thanks, but I was hoping to get answers such that "I loved the Edge so much that I decided to buy mine out after the lease has ended" . Guess that's not very smart financially. Too soon for me to worry about this anyway. I'm probably just gonna clear my mind for now and enjoy it :D Quote Link to comment Share on other sites More sharing options...
akirby Posted May 10, 2016 Report Share Posted May 10, 2016 Most people who lease continue leasing. Quote Link to comment Share on other sites More sharing options...
WingNut Posted May 10, 2016 Report Share Posted May 10, 2016 Thanks, but I was hoping to get answers such that "I loved the Edge so much that I decided to buy mine out after the lease has ended" . Guess that's not very smart financially. Too soon for me to worry about this anyway. I'm probably just gonna clear my mind for now and enjoy it :D Like akirby says the point of leasing is to keep the monthly payment low because you don't plan on keeping it. Just remember that you can buy your edge anytime during the lease period. So if you want to own it tomorrow and get away from the restrictions of the lease (mileage), you cut them a check for the remaining lease payments and agreed upon buy-out price, and it is all yours. If I was in that situation, I'd look at what that would cost me, see what my rate would be if having to take a loan, and figuring out the total cost of the car. Then try to figure out what the rate would be....say...in 3 years when the lease is up and if that is a better deal Quote Link to comment Share on other sites More sharing options...
akirby Posted May 10, 2016 Report Share Posted May 10, 2016 i considered leasing with a planned buyout just to keep payments low while we paid off another vehicle. It's just another way to finance the vehicle. You could purchase it and trade it in every 3 years with virtually the same result - it's just more money up front and more hassle if you want to turn it back in and walk away. Quote Link to comment Share on other sites More sharing options...
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