[Alfisti]

Bear with me.

Wife drives a 2019 Stelvio, gorgeous car, full leather dash, like really nice spec. Was $67K, all in with taxes we pay $830 month. It only has 12,000KM, so 8,000 miles. Lease expires Nov 2023 with a residual of $30K, I expect the vehicle to be worth about $42K when it comes to end the lease. Retail right now would be about $45K minimum, maybe closer to $50K given the lack of new product for sale.

So I am in for service and get talking to the GM, I ask him, when my lease is up can you extend it two years at the residual of $30K? He says no, so I say ok I will likely buy it out right. He says wait, why not take the EXISTING equity now, put it against a new one and sign up for 4 more years? He wins as he moves a new one off the lot with 0 hassle and has a super high quality used vehicle he can make good margin on.

I am open to the idea so hit up the sales guy today and he says "we can roll in about $2K equity". New one is also $67K all in with taxes etc and they have two on the lot.

What am I missing here? Surely if we hand back and near new vehicle he has to at least give me the agreed residual of 30K for it to make sense for me????

Or am I being naive?

I am not grasping his concept of "hand me a new new car and drive away in a new one" .....over 4 years I am MILES behind, better off just buying the dang thing end of next yr and flipping or driving it another 3 years.

Wife LOVES the car.