SPARKIE

2004 - 6 MT - Two months left on my lease, car is in great shape, runs very well but has 160,000 KM (all highway). Should I just hand back or purchase? The buyout is $10,800 plus taxes and I think the car could be worth $15,000 .
I could probably purchase, keep for another year and sell for more than the buyout.

jaehshim

u sure can't get a car better than 04 TSX 6MT, 80K miles with great condition at $10800.
to me, i guess go ahead and purchase.
the only thing is that, if u want to LEASE again to another vehicle, then that'd be a good choice as well.

1Louder

I don't know if the laws in Canada are different, but the last time I leased I had the option to sell the car privately and just pay off the residual - keeping the profit. So I don't think you have to buy the car first if you want to sell it privately for profit. In fact, I just had a friend do exactly that - sold his van privately the month the lease ended and paid off the resitual to the dealer - put about $1000 in his pocket.

Not knowning you or your priorities, it's difficult to know what to recommend on keeping vs. turning in. Your TSX will run forever if cared for properly, and in my opinion Honda/Acura is the best car maker if you want to own your car a long time. I don't think you can "trade up" if it's longevity you're looking for. My brother's about to turn 300,000 miles on his 95 Accord and it's still in great shape. I think it will run well for you as long as you wish to own it and take care of it.

Financially, if you turn it in you'll be certainly tempted to trade up and probably increase your payment. I think it just comes down to how content you are with the car now and how much longer you wnat to own it.