Hello all! TLDR at bottom.
I am leasing to own at 2017 Ford Fusion SE. I got it with 24k miles for a whopping $15.5K. I’m a college student so I went with a 72 month for a monthly payment of around $257. Over these 72 months, I will accrue an amount of close to $18k. I personally think I went head first into my first lease and didn’t realize that $15k would be THAT much money, especially the interest it is building. I drive a lot and have driven around 10,000 miles since I got it in February of this year. I know the 2.5L is incredibly reliable, but it is also pretty sluggish and I wish it had more power to it.
I have recently looked into getting a 2.0L model of the Fusion because I love the designs. I found a 2014 SE (2.0L) with 130k miles for a price of $10k. It was a single owner. I am looking at potentially trading in my 2.5L for this car and saving myself $5k-$6k plus a shorter lease date. I received a trade in offer that pays for the remainder of my lease plus $890 extra that can go to the title/tags. I really want to pay less per month and also save money in the long run with a car that I have more fun driving.
I need advice, is it a bad idea to get a car with 130k miles when I have one with nearly 100,000 less if it means that I will save $5k-$6k over the next four to five years?
TDLR:
I have a 2017 2.5 SE with 36k miles. I owe $15,000. I want to lower my overall loan cost and trade in my car for a cheaper/higher mileage ecoboost. I am looking at a 2014 SE (2.0L) with 130k miles and it is $10,000. The dealership is offering to pay the entirety of the lease plus roughly $900 extra. What is the smart decision?
