Dealer get me out of my Lease?
#1
Lexus Test Driver
Thread Starter
Dealer get me out of my Lease?
I believe I have 9 months left on my lease.
Is there any way my dealer can get me out of my lease and into another without rolling the balance into the new lease / without me losing money?
Thanks.
Is there any way my dealer can get me out of my lease and into another without rolling the balance into the new lease / without me losing money?
Thanks.
#2
most likely not, maybe at 6 months at the most.
__________________
Your #1 Dealer for Aftermarket Performance Products
Orange County, CA
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Your #1 Dealer for Aftermarket Performance Products
Orange County, CA
Email: info@merakiautoworks.com
Text/Call: 213 394 2886
Website: www.MerakiAutoworks.com
#4
Lexus Champion
It depends. If the residual value plus remaining payments is less than the trade in value you'll be okay. But if the trade in value is less, then you effectively have negative equity and it'll cost you.
Here's an example. When I had my Tacoma lease, my residual (18k) plus remaining payments equaled about $21k. The dealer offered me $24k on trade, so I took it, pocketed $3k, and leased my new car.
So it all depends on your trade in value and balance owed. Might as well have a dealer run the numbers and see. You can always say no.
Here's an example. When I had my Tacoma lease, my residual (18k) plus remaining payments equaled about $21k. The dealer offered me $24k on trade, so I took it, pocketed $3k, and leased my new car.
So it all depends on your trade in value and balance owed. Might as well have a dealer run the numbers and see. You can always say no.
#5
Lexus Test Driver
Thread Starter
It depends. If the residual value plus remaining payments is less than the trade in value you'll be okay. But if the trade in value is less, then you effectively have negative equity and it'll cost you.
Here's an example. When I had my Tacoma lease, my residual (18k) plus remaining payments equaled about $21k. The dealer offered me $24k on trade, so I took it, pocketed $3k, and leased my new car.
So it all depends on your trade in value and balance owed. Might as well have a dealer run the numbers and see. You can always say no.
Here's an example. When I had my Tacoma lease, my residual (18k) plus remaining payments equaled about $21k. The dealer offered me $24k on trade, so I took it, pocketed $3k, and leased my new car.
So it all depends on your trade in value and balance owed. Might as well have a dealer run the numbers and see. You can always say no.
I posted because another dealer recently contacted me stating they had interest in my vehicle, but when I called they said they couldn't help because it was a lease.
Great to hear this can work with leases; I plan to reach out to my salesperson.
Thanks!
#6
Lexus Champion
Keep us posted. I wish you the best of luck. I hope you find a car that makes you very happy.
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#8
With your lease coming to an end I would doubt you would have any equity in the car unless you put a large down payment when you leased the car. Register with LF to see what your buyout is on your car today. From there you figure how much you may be under water when you check to see what the car is valued at today.
#9
Lexus Test Driver
Thread Starter
With your lease coming to an end I would doubt you would have any equity in the car unless you put a large down payment when you leased the car. Register with LF to see what your buyout is on your car today. From there you figure how much you may be under water when you check to see what the car is valued at today.
I'll be sure to contact Lexus Financial.
Thanks!
#10
The answer is no.
Contact everyone you want, it doesn't matter. They will not pay out of pocket to terminate your lease early. One way or another, you will pay for it. Either your trade value will be adjusted, or the price of the next vehicle will.
They're called "Stealerships" for a reason.
Contact everyone you want, it doesn't matter. They will not pay out of pocket to terminate your lease early. One way or another, you will pay for it. Either your trade value will be adjusted, or the price of the next vehicle will.
They're called "Stealerships" for a reason.
#11
You can always sell the car outright to someone else to get out of the lease also. You would get more money for it then and maybe that would get you off the hook for not paying any more money to Lexus.
#12
The answer is not always no, you can always sell a leased car and if its worth more than the buyout you are then out of your lease with no extra lease payments being made and pocket the difference.
The answer is no.
Contact everyone you want, it doesn't matter. They will not pay out of pocket to terminate your lease early. One way or another, you will pay for it. Either your trade value will be adjusted, or the price of the next vehicle will.
They're called "Stealerships" for a reason.
Contact everyone you want, it doesn't matter. They will not pay out of pocket to terminate your lease early. One way or another, you will pay for it. Either your trade value will be adjusted, or the price of the next vehicle will.
They're called "Stealerships" for a reason.
#13
Show me a situation where that happened that didn't involve some kind of goodwill gesture and I'll donate $100 CAD to a charity of your choice. If you can't, you donate $100 CAD to a charity of my choice. Fair wager?
#14
Lexus Champion
So you're going to tell me that a dealer will pay out of pocket to terminate a lease early, with zero financial implications on the owner?
Show me a situation where that happened that didn't involve some kind of goodwill gesture and I'll donate $100 CAD to a charity of your choice. If you can't, you donate $100 CAD to a charity of my choice. Fair wager?
Show me a situation where that happened that didn't involve some kind of goodwill gesture and I'll donate $100 CAD to a charity of your choice. If you can't, you donate $100 CAD to a charity of my choice. Fair wager?
#15
The dealer will not pay to terminate a lease early, that is not what I said. If the dealer thinks your car is worth more that what LF has it listed for the buyout price the dealer or anyone else for that matter can buy the car from you, LF gets paid off you are then out of the lease. That is what I said.
So you're going to tell me that a dealer will pay out of pocket to terminate a lease early, with zero financial implications on the owner?
Show me a situation where that happened that didn't involve some kind of goodwill gesture and I'll donate $100 CAD to a charity of your choice. If you can't, you donate $100 CAD to a charity of my choice. Fair wager?
Show me a situation where that happened that didn't involve some kind of goodwill gesture and I'll donate $100 CAD to a charity of your choice. If you can't, you donate $100 CAD to a charity of my choice. Fair wager?