How does positive equity factor in on a lease? For example, I have a lease on 2015 Civic that is ending in April. I only have 24k miles on a car, instead of the 30k allowed. If I lease a new car from Honda, how do I factor in the positive equity on a new lease? One Honda dealer told me it could be significant, while another one says its all BS. Please advise
Just because you are under mileage does not mean you have positive equity. If you really do have equity, just have a dealer cut you a check for it.
First you to figure out if you actually have positive Equity. Find out your payout amount and how much the car is worth. If the car is worth more than your payout amount then you actually do have positive equity. Then you could either have the dealer buy the car and give you the extra money towards the new deal or you could take it to CarMax and see how much they can give you for the car.