Should I buy my Taco when the lease expires?

Illustration for article titled Should I buy my Taco when the lease expires?

The lease expires in February 2021. Monthly lease amount is $371 (my company gives me a $386/month allowance + 20 cents a mile). Come February I will have ~ 20k miles on the truck. Why so little? I drive my Cayman most of the time, the truck is used for truck things like fetching building materials, dump runs, etc.. with a Cayman and a Miata, we need a utilitarian vehicle in the stable.

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From Toyota: The residual value on your lease, as determined at lease signing, is $26,798.00. Your scheduled lease maturity date is 02/19/2021. Please note the amount to purchase your vehicle after all lease payments have been made would be the residual value plus applicable fees and taxes.

So my options:

- buy out the truck and drive it forever

- buy it out and flip it. Don’t think I’ll make any money on it though

- turn it in and get something else, maybe lease another Taco?

- buy a new stripper truck, ambivalent to brand, no Fords though

- buy a used truck

What say you Oppo?