Selling a Leased Car: Thar’s Gold in Them Thar Hills!

Some of the regular readers of this blog have been very helpful in giving me suggestions and feedback on my post about us shopping for a new car when we drove a Nissan Altima Coup
and really liked it. One of the comments was from a fellow who goes by the name of Cold Flame and he suggested I look into buying out the lease on Ashley’s Mini Cooper and selling it privately. That had never occurred to me, because prior to financing then buying the Mazda Protégé 5, my previous two cars were leased Chevy Cavaliers – which of course have very poor re-sale value, so I always gave them back to the dealership. I was surprised to learn that our buy-out on Ashley’s Mini Cooper is only $14K, and a quick search of the online Auto Trader tells me that 2004 Mini Coopers with more mileage than hers are selling for $20K to $22K! So this might be a way to make a quick $5-6K, which makes that $37K Nissan Altima Coup a more affordable $31K. I love learning new things, so thanks Cold Flame