3yr Lease ending with 26k miles, possible to use as trade-in or down payment?

[Systolic]

I’m in NJ where leasing sucks cause dealers don’t email. I’m basically about to shop for a 3 row with captains seats but we’re about to turn our lease in and not sure how to use it. It’s a 2017.5 Rogue with 26k miles on it in excellent condition. I am planning to find out the payoff amount this weekend, but would it be worth buying it and then trying to sell it/trade it in? Or will a dealer offer me anything for it or towards the next vehicle? We do not plan on going with a Nissan, it’ll most likely be a Toyota/Subaru/Hyundai or one of the other 3 row vehicles in that price range.

[max_g]

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Lease Buyout:

You can have a third party buyout the car. In order to do that, you would call your leasing company and get the current “dealer payoff quote” which is the amount of money needed right now to payoff your car which will satisfy your lease agreement. Once you have that number you can take your car to your local Carmax and see what they would offer to buy your car. If the amount is near or above your dealer payoff quote, then you can sell it to them and you would be out of the lease. Alternatively, you can get an online quote from vroom.com or carvana.com who will give you an instant online offer. If you accept the offer, they would come and pick up the car from you and pay you on the spot. Ideally you would get a quote from all sources as they may vary significantly. For more information, please see forum discussions:

Sold one to CARVANA!

We got the VROOM topic going (Sold one to VROOM! - #254 by SunshineOC) but thought I’d throw in how easy it was with Carvana too, and why it’s important to check both. Put the wife’s Lexus data through both Vroom and Carvana, vroom was $2k under the payoff, Carvana was $45 over it. Submitted the paperwork for Carvana, got on the phone with them to discuss lease transfer stuff with Lexus in the state of MO (easy peasy). Setup a time for pickup to be 10am on a saturday. 10:02 am knock on the doo…

Sold one to VROOM!

Not a lease deal, but I sold my prior lease to Vroom.com today. I rarely plug companies, but holy cow it was easy! I also got a quote from Carvana, which was more than $2K below my payoff – Vroom was $1,600 over my payoff. Huge swing in my favor. For reference, the car was a 2016 Acura MDX with the tech package, black/black with just under 20K miles. My sense is that pricing is heavily driven by direct demand for inventory for the company, so pricing will be relative to demand for the color, o…

For additional information, make sure to check out Leasehacking 101: How to End Your Lease Early

Leasehacking 101: How to End Your Lease Early — LEASEHACKR

[ElectricEliminator]

@max_g gave you a good response to this but I’d like to point out that NJ is very well represented here in terms of Hackrs as well as brokers. There’s tons of people here from NJ that have successfully contacted and negotiated with dealers via email. You may just need to try some different dealers.

[Systolic]

Yeah I plan to use the forum for finding a lease if we go that route, it helped me a TON on my outback.

They originally offered me 450/mo and thanks to this forum I got them down to 329.

Thanks for the feedback so far!

[Systolic]

I failed to mention the Lease ends this month and we are 10k under milage, we aren’t trying to get out early just trying to see if we can use the money from it towards the next vehicle since we don’t have any security deposits.

[mllcb42]

The only way you can get any money out of it is if the lease gets bought out rather than turned in. You’ll want to compare the current 3rdnparty buy out to purchase offers to see what, if any, equity there is.