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Discussion Starter #1
As the title suggests, I have a V6 Rav4 (2011). The lease is up now - it has 63,000 kms on it. While I would really like a 2016 Hybrid, the buyout on my 2011 is really quite reasonable - so reasonable that the dealer will give me some of the equity back.

I keep changing my mind on whether or not I should just buy out the lease and drive the current vehicle (which I like) for a while - maybe another year or two, or jump into the 2016 Hybrid now. Even if I were to finance the buyout, it would be the cheaper option. Except of course, the fuel mileage.

Any thoughts?
 

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Strictly your call. As for me.........a hybrid four banger against a V-6???? Seriously? Two cylinders short and a battery pack just doesn't cut it for me. This is a decision you have to make on your own.
 

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[...] Even if I were to finance the buyout, it would be the cheaper option. Except of course, the fuel mileage
FWIW, the highway mileage for the hybrid is not significantly better than the V6 RAV4. City mileage is certainly better. Regardless, just how much does a person really save when extending their debt on the vehicle? Nothing. So why buy a hybrid in this case?
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If gasoline price stay low the number of miles one would have to drive before the hybrid pays off its higher price plus the finance charge will increase by quite a lot, and the reported fuel mileage for the hybrid isn't as great as one might hope for. The OPEC report today is that they are not going to cut production. Along with RTF and pico I would go for the '11 V6 especially if is in very good condition, and as it is it doesn't have many miles on the clock. But of course, it's your call..
 

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Others have already mentioned the advantages of your 2011 in terms of ownership cost and power and low gasoline prices for the foreseeable future.

If I were in your position, I would only consider the 2016 if there are imminent expensive major issues encountered / expected on your 2011 (though it seems Toyota vehicles are quite reliable) or if you needed the additional safety features the 2016 offers (not as much step up on the XLE though).

We have an 02 Civic and and 11 Accord and we will be purchasing the 2016 RAV4 Hybrid Limited with the tech package (I wanted the additional safety features for my daughter) in January. Although there are currently only two drivers in the household, my daughter will be of driving age late next year. My 02 Civic's resale value is a joke and because it's got good MPG and the motor/engine is still good with the rear suspension slightly creaking, I use it as my daily driver to and from the train station.

I did not even consider trading in our fully paid 11 Accord because it has factory extended warranty until 2018, it drives like brand new IMHO, has electronic stability control (hands down the best safety technology after ABS especially in the winter) and we have had very few issues with it (no VTC actuator or excessive oil consumption issues) and it has comparable highway MPG to the RAV4 Hybrid so we'd rather distribute the mileage between the two vehicles, when possible. Had I traded it in, I would have gotten a maximum of $15-16k Canadian, which is not even enough to buy a new Corolla or Civic.

Reason for my wife to want the RAV4 and know I realize she has a good point, our Accord is a coupe and getting our 20-month old in and out of her car seat is a major pain! :)
 

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Discussion Starter #6
Thanks for the responses. I guess part of me wants to move to the Hybrid version of this vehicle and I think some of the new safety features are nice. I've driven one and I like it, although it clearly doesn't have the power of the V6, it's not a deal breaker.

The downside for me is that, because the Hybrid has come out so late, and my lease is up (I've actually extended it for one month), I kind of feel rushed into making a decision IF I want to get the new vehicle. I just need to convince myself that, if I delay the decision (i.e. buy my current vehicle), I won't really be "losing out" on any equity I've managed to build up (which, quite frankly is unheard of on a lease vehicle). I think I'm almost there.

Thanks for the input!
 
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