Ok duly noted…I will go back and start with getting a better understanding of how the lease works…this is a no go deal and I appreciate the feedback :slight_smile:

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What if later the OP and fam decide the Acadia isn’t big enough and want to roll even more negative into a Minivan?

Sure the Ody’s .00112 MF isn’t the lowest out there but it beats the above scenario

That was my prior point. The Acadia is tiny compared to a van. But at least OP’s wife isn’t screaming at us about a $10k down Suburban :rofl:

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@chrishs2000 I want a Burban Damm it $600 a month sign and drive I’m not driving a Mini Van either. :laughing:

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If getting out of negative equity is the priority, why not just pay off your current vehicle? You say you bought 5-6 years ago, how many payments are left? I never understood the logic that financing another depreciating asset will somehow relieve you of negative equity. You might finance that negative equity at a better rate but just about any new vehicle you lease will depreciate faster than your current van. Add the inception fees, taxes and the outrageous FL doc fee, I think it makes the situation worse.

Judging from the balance, there’s probably another 83 months left.


Just as an example, here’s a low optioned SLT in Florida you could consider (assuming I’m right about the recent Edmunds forum posts being you) :

The 10k off sticker being advertised definitely includes purchase incentives so ignore that, but 10% off MSRP before incentives is doable. Combine that discount with the current leasing programs and you would get a deal that looks something like this before the negative equity, estimating the usually high Florida dealer fees and the typical DMV fees:

Really quick and dirty, adding $7,600 back to the selling price to account for the negative equity would look something like this:

Not a great deal by any means but you’re at 36 months instead of 48, you’re not paying $1,200 for seat covers and the amount due at signing would be a little lower too.

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43 payments left on current vehicle, not 83.

The car posted above is that Lorenzo GMC in Miami I spoke to them a minimum of four times today and actually texted with the sales person and sales manager around 630 pm willing to come down and sign if they could get me under 600 a month with 2K down and they both said that they could not.

You owe $14,100. You are willing to put down $2k and pay $600/mn. You could get rid of the negative equity in 20 months and own a car if you applied that money to your existing loan. My employer has many Caravans (same power train) that consistently go +200k miles without major issues. Leasing at 36mn @ $600 +$2k down total cost is $23,600 and at the end you will likely have little to no equity.


All the programs and incentives will change today anyway, so I just used the above as a general example of how to structure a deal. The above example gets you close, but isn’t quite there. It’s possible that the dealer in question had already hit their sales goals and had no motivation to discount aggressively too. That’s why it’s important to reach out to multiple dealers within a radius you are willing to travel.

Your trade situation complicates things so it’s important to get a handle on what the car is actually worth versus what a dealer is lowballing you with. Carvana/Shift/Vroom/AlGo/Carmax could all be good places to check that first. That will give you an estimate of what you need to roll into the deal. I wouldn’t introduce the trade into the negotiations right away though. Use the trade estimates to calculate for yourself what the lease payment WITHOUT the trade needs to be in order to roll the negative in and stay under budget. If you can get them to agree to the number you need without the trade then adding the trade back in with competing offers from other places to back that up shouldn’t be a problem.

You’re going to have to walk them through this a bit. Many dealers are not going to have the vision required to make this scenario work. They will hear your payment goals and just shut down. This is why focusing on the pre incentive selling price is crucial. Tell them “I’m looking to be at X per month with Y due at signing (do not say “down”). I think it will take a pre incentive selling price of Z to get there”. That makes it a very simple decision: can you do this discount on the car or not? The other pieces all fall into place once that number has been agreed to.


We are also paying 8% on this car… Using your scenario to pay it off would it be advisable to refinance to a much much lower rate with our credit union and continue to pay the higher affordable payment of 600 a month to pay it off even faster?

Regarding leasing, given the high apr % you are currently paying on the existing loan are you confident that you would qualify for a lease with Tier 1 (usually 700 or higher score) money factor?

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This is definitely the most financially sound and responsible option. Pay off the car as quickly as you can, definitely refinance that rate if possible. Unless there’s some serious mechanical issues there’s no real reason to roll this into a new lease, just keep it well maintained. Revisit getting out of it when you are no longer underwater, or at least not nearly as underwater as you are right now.


Yes We just refinanced the house… Credit is mid 700s… It was under 700 when we got the van

So refi the T&C instead of paying out the ass for a base Acadia and pay it down until it’s at least break even. Problem solved.


You’ve already suffered the worst of the depreciation curve. Throw $2K against the loan tomorrow and $600 per month until you’ve broken even.

Could you not have pulled some equity from your house to pay down the car?