vbrad26
Autocross Champion
So here is the breakdown.
In October 2011 I leased my 2012 base model GTI.
It was in my possession until the end of December 2012 when I gave it to my mother since I was moving to NYC and did not need to have a car.
Today:
I am actually moving back down to Florida in 2 weeks and will be needing a car again.
My mother is still driving the GTI since the lease is up in September.
She will need to get something new regardless but I am wondering if I should buy the GTI from VW credit, or get into a MK7.
The residual on the MK6 is $14,100 so financially it seems like it would make a lot of sense to finance the rest of that and be in a 1 owner low mileage MK6 since I could not find one for that cheap anywhere else.
My thoughts on this are that I would finance for 4 years and then I would have a car that is paid for and at that time I can get something new.
BUT I am also wondering what sort of deal I could work out on leasing a MK7.
With what I am assuming is a pretty low residual on my current car, I feel like I could get a good deal on the MK7 if I could get the dealer to buy out my lease, essentially taking the car in on trade and hopefully reducing the amount of money I would have to put down on a new car.
Basically I am wondering if what I am thinking is even true as I have never dealt with trying to buy or trade in a lease and also, financially, what would make the most sense.
So any input on my situation or buying or trading a lease would be much appreciated!
In October 2011 I leased my 2012 base model GTI.
It was in my possession until the end of December 2012 when I gave it to my mother since I was moving to NYC and did not need to have a car.
Today:
I am actually moving back down to Florida in 2 weeks and will be needing a car again.
My mother is still driving the GTI since the lease is up in September.
She will need to get something new regardless but I am wondering if I should buy the GTI from VW credit, or get into a MK7.
The residual on the MK6 is $14,100 so financially it seems like it would make a lot of sense to finance the rest of that and be in a 1 owner low mileage MK6 since I could not find one for that cheap anywhere else.
My thoughts on this are that I would finance for 4 years and then I would have a car that is paid for and at that time I can get something new.
BUT I am also wondering what sort of deal I could work out on leasing a MK7.
With what I am assuming is a pretty low residual on my current car, I feel like I could get a good deal on the MK7 if I could get the dealer to buy out my lease, essentially taking the car in on trade and hopefully reducing the amount of money I would have to put down on a new car.
Basically I am wondering if what I am thinking is even true as I have never dealt with trying to buy or trade in a lease and also, financially, what would make the most sense.
So any input on my situation or buying or trading a lease would be much appreciated!