Hi folks
I searched the forums but could not find a conclusive answer to the following question. I apologize in advance if this has been covered somewhere.
When leasing an “in service/loaner” vehicle which has existing mileage, is it possible to get the original zero mileage residual value on the lease if you’re willing to take less mileage?
For example: Car A has been used as a service loaner by a dealer and currently has 5,000 miles on it. Because it was a service loaner, it now qualifies for additional lease cash for the dealer from the manufacturer, which means a killer sale price, but its residual has been adjusted down from 50% to 40% (for 36/10) to account for the existing mileage. Instead of taking a 10% hit on the residual and getting a full 30,000 miles on the lease (meaning the lease period is from 5,000 - 35,000 miles) is it possible to get the original 50% residual if you’re willing to accept a lease end of 30,000 miles, meaning on your 36/10 lease you only actually get to drive 25,000 miles? Similar to if you had accepted a lease transfer from another person wherein the car already had existing mileage?