Buy it or not?

[AJRK]

I am currently leasing a 2004 XLT. Its only got 38,000Kms on it, and the buy out is $17,900 CDN. I am thinking of buying it out at the end of the lease in April, and was wondering if anyone had any thoughts. From what I gather, its worth over $20,000 CDN so I could probably drive it another year and sell it for close to what I paid.

 

[Buttsy]

Worth depends on the perspective buyer. Assuming it's a 2WD, it's worth slightly less to a private buyer (another person) than the buyout. Slightly more if it's a 4WD. Seldom, if ever, will the buyout be less than the market value of the vehicle. U can figure on a drop in value of approx. $2500 CDN for each additional year u drive it over the next few years. Less as it gets older. It may be worth the $20,000 CDN if 4WD, loaded, and in perfect condition.

 

[AJRK]

Yes, its a 4X4, in great condition (not as good as my Limited, but close), fully loaded except for leather. I've been looking on Autotrader's website for Ontario, and they're asking in the low $20,000's for similar ones.