0
0
I need to preface by saying we don’t got it like that. Therefore, don’t ask for money.
Backstory: We had a leased 2017 Kia Sorento, fully-loaded. Y’all…I loved that car. Loved it, loved it, loved it. We wanted to buy it and were serious about purchasing it. When we inquired about it the first time, the sales people at a local Kia told us it wouldn’t make sense from a financial standpoint and were serious about pushing us into a brand-new car. We declined the offer and thought just to try again later.
When we attempted a second time, it really made no sense to purchase. The Kia when we first purchased was worth about $42K. The KBB value of it depreciated down to $16-18K – that’s a huge drop. Kia wanted to sell it for $22K.
Maks and I couldn’t fathom buying a car for $4-6K more than it was worth. We simply walked away from the lease.
We had a very small window to get another car as I do use it for work, while Maks and Bear are primarily at home. We tried to get a 2018 Honda Accord, which I fell in love with. The Honda dealership we went to, I felt were disrespectful assholes and it really was a waste of time. They wanted us to pay a $800 monthly car note for a two-year car and hell, nah.
The last resort was Toyota, which really should’ve been our first choice since I previously owned one that served me very well. We went through the Costco Auto Program and were assigned to a Toyota dealership. I originally picked out a Corolla but was convinced by the sales guy to upgrade to a Camry (plus, Bae picked out the Camry).
Four hours later, we walked away with a new whip:
Some plus and minuses about the whole leasing v. owning:
- We loved leasing our car and wanted to purchase it, but we probably won’t do it again. The car depreciated big time.
- Leasing was great pre-Covid; it didn’t make much sense during Covid.
- We probably won’t ever buy a new car again for the same reason as above. I really love Certified pre-owned cars and I honestly feel that’s the way to go. I don’t want to worry about the car, period. My Toyota Matrix was certified-pre-owned.
About the Costco Auto program, we didn’t save as much money as I thought we would’ve, but the process was much easier. We were still at the dealership for quite some time and had to sign mountains of paperwork but there was no haggling. It’s worth an option to consider.
Anyhoo, I made a YouTube video about it! Check it out!
