Topic: End of lease options : to buyout or not buyout?

[78malibu]

Question: My lease is ending very soon. Have an '06 Saturn Ion Quad with 58000km. Buyout is $8800, requires bumper repair est $1400 if I were to return it.

Option 1) buyout and head over to Dodge to trade for '08 Caliber SXT with 24000 for 13K or Ford for an '09 Focus SE for 14K
Option 2) buyout as is and keep driving in which case is an extended warranty useful
Option 3 ) stay at Saturn and move into an '09 Astra demo (most expensive option I think) I'd go to an '08 if they had one

Will purchase cash (LOC) and I appreciate all input!

[RunsinLight]

If you buy it out for 8800 your going to turn around and trade it in for probably half that price.

2 and 3 are the only reasonable options.

[wing]

Why would you buyout and trade that makes no sense what-so-ever.

If you want the Caliber you drop the lease and buy the caliber.  As runsinlight said, you'll probably get half of what you just paid as trade-in....

[mp3butt]

I would say just to return it and forget about it. A not so good car with a sinking brand won't fetch much during trade-in

[Careener]

Chrysler has a ton of unsold Calibers (compared to low stock on most of their other vehicles).
They've got even bigger incentives coming shortly to clear them out.