I have the option to buy out my lease (residual) for 11k. It's definitely the right choice financially to buy it out because of the value I think, but should I finance or pay cash? I wouldn't have to go into emergency fund liquidity either way.

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What rate would you finance at? If high, pay cash, If low, then finance.

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Do you have a preference in owning a car or leasing?

In my case, I’d rather lease. Sell your car to either Carvanna or Vroom, get the extra cash (used car prices are through the roof, I was able to profit $6k) and lease a new one. My monthly payments went down from $300 to $133

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Depends on how much profit and taxes as well might end up being a wash.

Similar situation but not sure if I should flip the car and make a few grand off of it before getting a new one.

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Cash because cars are a depreciating asset

That only matters if you have no other liquidity other than selling the car. If I have (making up numbers to illustrate) $200k in ETFs and $10k in emergency cash, why would I care if the car depreciated?

The risk of something catastrophic happening that wasn’t covered by insurance is already small, and if it did happen, I could just pay cash or sell stocks to cover it.

Different strokes and all, but this doesn’t bother me in the least.

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Just wanted to close the loop here. In order to finance, the dealer has to take the car for a undetermined amount of time and give you a rental while they "inspect" it. Fees for this inspection are an additional $2000. If I buy cash I don't have to do any of that, and either way I still need to do RMV re-registration, so financing is not the option I went with. That 2k eats alot into any other returns I would get on that $ over time.

What will they give you for the car as a trade in?
Roll the difference into your next car.

Have you checked with Carmax for what it’s worth?

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