How does a lease pull ahead work?

Ask the Hackrs
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1

I have some logistical questions:

  1. Say your lease payment is due on the 15th. Does that mean you have until 14th close of business to get a new car and turn your one in? Or is that too tight?
  2. Is the inspection done right there? Or they take the car, inspect later, and bill you. How best to protect yourself?
  3. Should you turn off autopay?
  4. Should you call the finance company to say you did the pull ahead? Or trust the dealer to handle everything?
2

1 - They give you some grace periods around turn in. YMMV
2 - Mine have always been inspected when i return, they then show you their report and you sign off on it. Ive heard others have had different experiences though
3 - Once the car has been turned in and the account closes, it stops billing you.
4 - The dealer handles all this (usually taking your remaining payments and adding them to your next lease so they dont have to ‘eat’ any costs)

3

I was actually thinking about the case where the finance company is offering the pull ahead. For example Volvo is now offering 9 month pull ahead. And there is no rolling in the remaining payments.

4

Try to be more specific about which brand.
If you are talking about volvo you can call volvo financial and ask them to send the request for inspection early because you will be doing pull ahead. Otherwise if you turn in the car without inspection the inspection will occur 1-2 weeks later at the dealership and you will just receive the bill (if items need to be fixed).

5

This would be for Volvo in my case.

6

Just make doubly sure any “pull-ahead” is an actual incentive from the manufacturer/lender and not just throwing the remaining payments into the cost of the new lease.

7

Fortunately, volvo is a company that actually does offer a generous pull ahead at the moment.