Buyout lease, or buy new?

Hey everyone,

I'm coming up to the end of my lease on a '22 SR5 4x4 with premium and technology packages. I love the truck, wouldn't mind keeping it, but looking at used prices I'm thinking I may be better off turning it in and purchasing a new one.

Current Truck:
2022 SR5 4x4 Crewmax
Premium Package
Technology Package
46,000 Miles (my lease was 12K per year, but I knew going in to it I was going over. It was cheaper to pay the overage than a 15K lease.)
$0.18 per mile overage fee
Has NOT had the engine recall done yet
Buyout: $40,108

I love the truck, but I don't know if I could get a better deal with a new comparable truck, 46,000 less miles, shouldn't have to deal with engine recall, fresh warranty, etc. Looking at ads for used 22's I feel like my buyout is not a great deal at the moment. What is your opinion? Thanks!

 

Welcome.

Others will chime shortly. I don't have a dog in the hunt, since I don't own a 3rd gen ( yet).

 

Buy what you can afford.

if you like your truck and can afford it, keep it.

if you want new and can afford it, do it.

 

If you want to keep your current truck, don't go to the dealer. Call the leasing company directly and tell them that you want to keep it. They usually will give a better deal than the dealership.