Buy vs lease - Toyota RAV4 hybrid
Hi, I’m looking for some advice and feeling a little lost.
Does my situation make sense for a lease?
I have a 2013 Toyota Camry with ~112K miles that is nearing its end of days (rip). The concept of a new car is not a surprise, but the timing is. I drive significantly less than 10k miles a year but do take several long trips each year.
I’m looking to shift to a small crossover/SUV due to my large dog and the need for a little more space for transporting things. Specifically I’m thinking a Toyota RAV4 Hybrid LE.
The monthly payments associated with the lease are comfortably in my budget. The financed ones are not - I am also currently paying off a surprise medical bill, and have not had a car payment in about 5-6 years.
My student loan payments should end in about 3 years - the term of the lease. After that I will be able to afford the higher monthly payment associated with financing.
Is this a situation where leasing does actually make more sense or is it still not worth it?