Need 2016 SQ5 Lease New Vs. Used 2016 SQ5 Buy Advice

[sshah]

AZ,

I need some help with deciding a brand new 2016 SQ5 Lease vs 2016 SQ5 Used Buy Dilemma. Both 62k MSRP loaded.

The lease deal is pretty damn good. 0 down for 665/mo with taxes for 36 months and 10k/year. My total out of pocket for 36 payments being $23,490. Residual $38,600.

The other deal is a used 16' SQ5 with 20k miles, 12 months old, Audicare for $46,000 plus shipping, Private party illinois tax ($1,500), new tires - totaling $49,000.

Hence if I use the car for 3 years. Where do i lose the most considering the used car already has 20k miles? I need some advice on the numbers.

[DizkoDan]

If you put nothing down on the used one, you'd pay about the same over 3 years as the lease.

The real question is how much are you planning to mod, and how much are you planning to drive?

[sshah]

If you put nothing down on the used one, you'd pay about the same over 3 years as the lease.

The real question is how much are you planning to mod, and how much are you planning to drive?

9-10K/year max driving. No mods except black badges, tint, and possibly gloss black stock rims (could get forum extras for this)

Lets say 0 Down on used one and 2.5% interest rate.

[DizkoDan]

Yeah, I calculated loan of 72mo at 3%, and the remainder on the loan in 10/2019 is around $25k. Your payment would be like $745/mo though, and I doubt you could finance 100%.

[Mops@Nemesis]

You locked the best lease deal I think I've seen. $665 with 10K is super solid. I'd go that route 100%.

[TITAN_Q5]

You locked the best lease deal I think I've seen. $665 with 10K is super solid. I'd go that route 100%.

Yup that's a catch man seriously !!


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[drivenagain]

I got a better scenario, I just did Nationwide Credit, 0$ down 84mo @ 2.74%
If I plug your numbers in for the used car, your payment is 661.00 and your payoff in 36 mos will be 30k
Compared to the lease deal, the payment is basically the same, but you OWN the car, can mod it, no mileage restrictions, and you have 8K MORE equity in the vehicle at end of 36 mos. I used to lease cars, no longer. I can give you my reps number.

[sshah]

I got a better scenario, I just did Nationwide Credit, 0$ down 84mo @ 2.74%
If I plug your numbers in for the used car, your payment is 661.00 and your payoff in 36 mos will be 30k
Compared to the lease deal, the payment is basically the same, but you OWN the car, can mod it, no mileage restrictions, and you have 8K MORE equity in the vehicle at end of 36 mos. I used to lease cars, no longer. I can give you my reps number.

Thanks for the update. Did the math a few times actually when you factor in the interest, new tires, and shipping the used car is still a better deal by about $1,500. However, since the lease price is so good and the chances I will have positive equity at some point in the lease was the deciding factor. Used car is a great deal as well but having 20k miles on it with a new model coming out in 18 months was a risk to own.


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[goblues38]

If I only drove 9k-10k miles a year, I would buy the cheapest econo box shit car.

The entire reason I buy nice cars is because I spend so much time in them 15k-18k miles a year.

I was sort of in your situation last month. new 2016 SQ5 = $62k or about $1,000 a month to buy, $700 ish lease.

I decided I drive to much and found a CPO with 17k miles and bought it for $47k. I just dont ever see a lease deal as being good for anyone.

[sshah]

If I only drove 9k-10k miles a year, I would buy the cheapest econo box shit car.

The entire reason I buy nice cars is because I spend so much time in them 15k-18k miles a year.

I was sort of in your situation last month. new 2016 SQ5 = $62k or about $1,000 a month to buy, $700 ish lease.

I decided I drive to much and found a CPO with 17k miles and bought it for $47k. I just dont ever see a lease deal as being good for anyone.

Yeah lease deals are never as good but they provide some flexibility with the model changing. I think I will be a little bit less value in the lease but hopefully it can be turned in to make it up.


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