Hi everyone, new to the lease game, what is the difference between just trading in my old lease to the dealership (them paying it off and taking the car) vs them cutting me check to pay my lease?
Are they offering you that as a way to get you out early? You might not have equity so a trade in could come at your expense if you still have a few months left, whereas them paying your lease off is an incentive to you. Just ensure that they’re not making that back (and more) somewhere else
I did some reading and it turns out that dealers will cut you a check but any wear and tear you’ll still be responsible for basically I am assuming that I will be turning my current lease back to the lender.
Yeah pretty much cutting you a check means, any wear and tear or over mileage is on you when you turn in your lease.
Does it mean I can still keep my current lease? It’s a little confusing how that works.
A dealer offered us this as well, they explained that it did mean we could keep the lease until the end. Or turn it in early, so you don’t have to pay double insurance, etc… Basically nothing changes on your end with your current lease, they are just paying the remaining payments.
Yes, you’ll keep the lease till the end and still have to make payment till the end.
Dang, not really what I want. I’d rather just keep my lease until the end then. Too much hassle. Thanks guys!
You can call your current leasing company to see if they can come pick it up early and you pay all the extra months