Bit of background. I have a 2004 Focus with 212k KM. I leased it in 2007 with 80k km so I've well gone over. My lease is up in 4 months, and the buyout is $3700, although since I've gone over my km's I'm going to be forced to buy it out. 15c/km over.
I was looking at getting a new car, but I'm limited to my current dealership as if I get a new car from them they won't charge me remaining 4 lease payments, and he buy out cost. If I went to say Honda, whatever Honda dealership would have to buy out my lease and car from them and then add that $5k negative equity onto the new car.
Onto my main question. I was looking at getting a 2008 Ford Escape with 70k KM on it. Nice suv, but the more I think about the 5yr finance and over $400 car payments, I'm now thinking I should stick with a car around $10000. The dealership has a 2005 Chevrolet Equinox with 115k KM and it's $10000. I could do this for 3yrs and have really low payments, but I'm wondering if it's even worth looking at something with 115k KM? I would only expect another 100k KM, and if I do it for 3 years that would work good for me... but I don't know much about the reliability after 100km on GM's. Thanks in advance for any advice.
I was looking at getting a new car, but I'm limited to my current dealership as if I get a new car from them they won't charge me remaining 4 lease payments, and he buy out cost. If I went to say Honda, whatever Honda dealership would have to buy out my lease and car from them and then add that $5k negative equity onto the new car.
Onto my main question. I was looking at getting a 2008 Ford Escape with 70k KM on it. Nice suv, but the more I think about the 5yr finance and over $400 car payments, I'm now thinking I should stick with a car around $10000. The dealership has a 2005 Chevrolet Equinox with 115k KM and it's $10000. I could do this for 3yrs and have really low payments, but I'm wondering if it's even worth looking at something with 115k KM? I would only expect another 100k KM, and if I do it for 3 years that would work good for me... but I don't know much about the reliability after 100km on GM's. Thanks in advance for any advice.