Looking for some feedback on doing as per title:
- currently own paid off 2015 suv
- want to sell privately/trade in for a new suv on 4yr lease (that’s how long the manufacturer warranty is)
- prepay entire lease with proceeds of sale/trade of current suv.
The current vehicle is starting to show signs of upcoming maintenance/wear & tear expenses, as it is 7yrs old and literally has not needed anything apart from oil changes and the odd recall in the sub 90k km that we have put on it. Aaaand in another 4yrs it will be 11yrs old, worth next to nothing, and probably pretty expensive to maintain.
So if I can get enough for it to prepay the entire 4yr lease, what am I losing out on apart from future sale of the current vehicle (maybe $5000, maybe $0 if shit starts breaking down)?
I know the insurance would likely go up a little, but it does that anyway…
What else am I not considering?
- currently own paid off 2015 suv
- want to sell privately/trade in for a new suv on 4yr lease (that’s how long the manufacturer warranty is)
- prepay entire lease with proceeds of sale/trade of current suv.
The current vehicle is starting to show signs of upcoming maintenance/wear & tear expenses, as it is 7yrs old and literally has not needed anything apart from oil changes and the odd recall in the sub 90k km that we have put on it. Aaaand in another 4yrs it will be 11yrs old, worth next to nothing, and probably pretty expensive to maintain.
So if I can get enough for it to prepay the entire 4yr lease, what am I losing out on apart from future sale of the current vehicle (maybe $5000, maybe $0 if shit starts breaking down)?
I know the insurance would likely go up a little, but it does that anyway…
What else am I not considering?