Quote:
Originally Posted by edslunch
We are looking at shedding several increasingly problematic older cars and consolidating on a new one. We’re in a transition period - getting ready for retirement, kids not quite gone, dog in her senior years so our needs will change over the next 3-5 years but too far out to continue with current vehicles. My wife would like to go EV but I’m not ready to do that for our only vehicle yet - I don’t think the technology, market and infrastructure is mature enough yet.
We’ve always taken a buy and hold approach to cars but are now talking about a 4 year car to buy time for our situation and the options to settle. We’re thinking something like a RAV4 hybrid or the new plug-in hybrid. We have low annual mileage. Should we look at lease or buy and sell?
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If you need something immediate but are only looking for a "stop gap", look really hard at a 2 or 3 year lease. You will see the benefits in 2 or 3 years when you go to get into your long time vehicle. A short term closed ended lease is normally the best option for a situation like yours. This would also provide a bridge to perhaps purchasing your EV in 3 years as the infrastructure will be upgraded, technology perfected and more availability (if the RAV 4 is a direction you go). A lease will provide a guaranteed value at the end of your term, eliminating any negative equity you would normally face in a
"quick flip" finance scenario.