Figured this could be a good post resource for people when deciding what cars to get.
Myself personally, I like to switch cars a lot (almost to a fault) but I can proudly say I’ve leased 3 cars this past year and didn’t lose a penny.
What deals should people look door when leasing a car that will allow them to either have equity in their lease at the end of the term or be able to get out of their lease early at no cost?
Currently I’ve got a 3 month old tundra and I’m only $1500 negative equity if I wanted out early. I think the resiudal on trucks/jeeps is huge but I could be wrong or lucky.
My mom had a murano and echo park paid her 6k over her payoff 6 months before her lease was up. I have no idea how so there must be an equation or something lol
What’s the key to getting advantageous deals like this do you guys think?!
When this happens, they make their money on the new car, IMO. Or there was some pull ahead/conquest cash. Maybe not all 6k of it, but some. And/or the residual was extremely low in the first place, but then her lease probably wasn’t good.
I think it’s a pay me now vs pay me later situation. If you pick a vehicle which leases poorly (real world RVs, little lease support compared to purchase support) you will have a vehicle which has equity during the lease, at end of lease. (Large suv - expedition, Tahoe and many Honda products) But you paid for that privilege by paying more each month during the lease.
Her payment was 350 on a 37k murano so wasnt that bad of a deal. She was looking at getting a Toyota and they offered her 22k.
Echo Park is very similar to carmax so we didnt lease a car from them. We simply sold them the car and then went to a real dealer to do the next deal on leasing something new.
I think we just got extremely lucky one way or the other.
