I bought a new car on fully maintained lease. Its now 3 years old and I could sell it and cover the residual then start again on a new car. Other option would be to continue the lease for another 2 years which would make the car 5 years old when I get to the end of it but would be nearly paid off enough to sell and start again then.
The cost of lease is covered pretty well by the tax savings so I'll probably keep doing that.
What would people suggest based on their experience?
Always best to do your own math.
But from my previous leases, you would tend to be better off paying the residual and owning the car outright, provided you have enough cash to comfortably do so (without starting another loan).
Almost always, keeping the car will be cheaper than getting a new one.
If you really want another new car next and can afford to do so - pay the residual for this car, sell it yourself. Then start a new lease.
I have always leased over 5 years then trade in on a new one, even better these days with 5 years warranty.
What type of car? Is it going to still be worth anything in 2yrs, or is it undesirable?
Or was it a high-yield investment?