Guys,

I am looking for your thought on pros and cons of trading in my 2009 G37 and then buying or leasing a Q50.

I drive an average of 20k miles a year. My car has a KBB value of between 14k-16k and I owe 5k on my car. So I should get around 8-9k (hopefully).

I have never lease a vehicle before so my main question - what are the cons of trading in a vehicle (non-leased vehicle) to reduce the cap cost on leasing a new Q50?

Any other thoughts are welcome as well.

Thanks,

 

Pros - You get New Model
Cons - You take a decent hit

 

A purchased vehicle becomes and asset with positive equity when it's paid for or when it's value exceeds the payoff, like on your car. A leased vehicle is always a liability and you will continue to pay for the use of it every month until you purchase one.

It's not a perfect analogy, but consider it like leasing an apartment vs buying a home or condo. There are some advantages and disadvantages wither way, but from a purely financial standpoint buying and keeping a vehicle will save you lots of money long term. Leasing can be great if you own a business and can lease it through there. Or some people have automobile ADD and feel like they need to have a brand new car every couple of years to make them feel good or secure about it's reliability. However 20K is a lot of miles for a lease and will increase your cost. If you purchase you can put as many miles on the car as you like without ever considering it.