In 2010 I leased a basic model Prius for $351 per month for 36 months (total paid at end of lease term: $12,636). The lease payoff amount is $17,539. Ultimately I’d like to purchase and not lease my next vehicle and I’m not sure whether to buy the current car I’m in, trade it in for a new car or buy a certified used. I realize if I keep this car I’d be paying more than the value of the car, but ultimately less than the price of a new or possibly used hybrid, which would cost between $20k - $25k. The next car I purchase, whether I keep this one or get something else, I’d like to own it for at least 10 years. Looking for the most practical and financial decision for owning a hybrid or fuel efficient vehicle.
Thanks for your help.