How to negotiate trading in an existing lease for a new lease

Ask the Hackrs Buy/Finance
1

Hi,
I have a 2024 Jetta sport on a 36 month lease. I’ve paid off 11 months. Have done 6k miles out of my allowed 12k for the year. I want to trade it in for a 36 month lease on a wrx at the same dealership group.
Any advice on how to negotiate this? I don’t want to pay any walk off fees.
My current lease payment is $360 tax in.
Thank you!!!

2

Start with finding out your buyout without tax. Step 2 get real purchase offers for your car (not trade in). If miraculously your buyout matches the offers you can walk away for free.

1 Like
3

Thank you! However, since I’m new at this, could you walk me through this like you’re explaining it to someone who knows nothing at all. Not going to pretend I know anything, so the better I understand the better I can negotiate.
My residual is $13790. I’ve paid off $3465 (11 payments) before tax. Have $7875 left to pay (25 payments). And I had put 1500 down which I assume is a sunk cost and doesn’t affect anything.

4

Go to your VW portal and check your current buyout. Forget about your residual and how much you have paid.

2 Likes
5

After that check this thread below and get purchase offers.

3 Likes
7

Much appreciated. Thank you!

8

KBB says your Jetta is worth about $20K in a private sale. Dealer will likely offer much less in trade. One of the 'we buy leases" companies might be your best bet to get out of the current lease with minimal cost. I am not sure if VW allows 3rd party buyouts though.

1 Like
9

They do, but they charge marked up prices to 3rd party dealers.

10

I got it at one of the LA car guy dealerships, and they had suggested that because it was under their umbrella it might be possible. I went down there, and it’s not gonna happen. Unfortunately I have negative equity in car at moment, they offered around 16k, my buy out is a little over 20k, so need to hold onto it for another year or so.
Thanks for all the suggestions. Would’ve loved for this to happen, but there’s only so much you can fight the numbers…

11

Carvana just offered me 19,200 on a 24 jetta sport black manual transmission with 4k miles. Hope this helps you.

1 Like
12

Take a look at this thread as well.

1 Like