# Trade-in My Lease or Buy It? **URL:** \ **Category:** General Discussion\ **Tags:** prius, toyota\ **Created:** [October 23, 2012, 3:10am UTC](https://community.cartalk.com/t/trade-in-my-lease-or-buy-it/75116 "2012-10-23T03:10:37Z")\ **Posts on this page:** 5\ **Page:** 2
**Author:** ![bing](https://sea1.discourse-cdn.com/cartalk/user_avatar/community.cartalk.com/bing/32/4619_2.png) [@bing](https://community.cartalk.com/u/bing)\ **Post date:** [October 24, 2012, 9:35pm UTC](https://community.cartalk.com/t/trade-in-my-lease-or-buy-it/75116/21 "2012-10-24T21:35:09Z")
You can do the net present value calculations but the thing is, cost is only one factor in many people’s car decision. I just wouldn’t start over paying for a three year old car, regardless of the calculations. Especially after a three year lease. ---
**Author:** ![RubySM](https://avatars.discourse-cdn.com/v4/letter/r/ce73a5/32.png) [@RubySM](https://community.cartalk.com/u/RubySM)\ **Post date:** [October 25, 2012, 1:09am UTC](https://community.cartalk.com/t/trade-in-my-lease-or-buy-it/75116/22 "2012-10-25T01:09:00Z")
Again, thanks everyone for the thoughtful responses. I think it might be worth it to keep what I have. I’ve taken good care of it, put very little mileage on it and if I were to buy the same car used it would be $3k - $5k more and would probably have more mileage. I’ll spend less overall and the only thing left to consider is the NPV after I finish paying off this vehicle (probably 5 years) vs the NPV after paying off a new car. If I could get a new car for slightly more a month with a higher NPV after paying off the car it would be worth it. The only other cars I’m interested in is the Prius C or a honda civic sedan. I might have equity in the lease to apply towards another car since it was a 36,000 mile lease deal and I only put 18,000 miles on the car. Another option would be to turn this car in and buy something less than $17k. I’d save money, but would be driving an older car that would ultimately need to be replaced sooner. ---
**Author:** ![eraser1998](https://avatars.discourse-cdn.com/v4/letter/e/6de8d8/32.png) [@eraser1998](https://community.cartalk.com/u/eraser1998)\ **Post date:** [October 27, 2012, 1:16am UTC](https://community.cartalk.com/t/trade-in-my-lease-or-buy-it/75116/23 "2012-10-27T01:16:00Z")
Bing - I agree that I wouldn’t overpay for a 3 year old used car. But overpaying would simply be paying more than the fair market value of the car (or FMV of a similar model). Overpaying isn’t paying the $15k FMV on a vehicle that sold new for $20k that you think should only go for $12k used. ---
**Author:** ![jtsanders](https://avatars.discourse-cdn.com/v4/letter/j/c2a13f/32.png) [@jtsanders](https://community.cartalk.com/u/jtsanders)\ **Post date:** [October 27, 2012, 1:21am UTC](https://community.cartalk.com/t/trade-in-my-lease-or-buy-it/75116/24 "2012-10-27T01:21:16Z")
It’s worth about $17,700, so the price is about average. You might try to negotiate a lower price. Start at $17,000 and see where you end up. BTW, if you buy this car, it will cost you almost $30,000 even if you pay cash for it. Maybe you should consider just buying a new one now. ---
**Author:** ![tazsmama](https://avatars.discourse-cdn.com/v4/letter/t/85e7bf/32.png) [@tazsmama](https://community.cartalk.com/u/tazsmama)\ **Post date:** [October 27, 2012, 9:56pm UTC](https://community.cartalk.com/t/trade-in-my-lease-or-buy-it/75116/25 "2012-10-27T21:56:24Z")
I wouldn’t want the upkeep or expense of a hybrid for many years if you really mean 10 yrs. I wish I had just purchased another car. I have had my used Prius for a couple of years and it just doesn’t work for my family. Now, it’s worth 3k less than the pay off. I have never really saved as much as I had preferred so I won’t be getting one, again, in the future. [Previous page](https://community.cartalk.com/t/trade-in-my-lease-or-buy-it/75116.md?page=1)