Rookie question...trading in a car for new lease

[FoleyAMG]

Good evening all,

Question. So I have been looking at some new leases. From my other posts, I have a 2019 MB AMG 53 CLS on a lease expiring in April 2024…upon recommendation, I have decided to hang onto it for now.

However, as I have been looking, my wife is now asking about something for her, go figure.

She drives a 2018 Mercedes Benz AMG 43 GLC and it is looking like it has between $27K-$30K in equity. It is ours, title in hand.

So was exploring on line and she likes either Audi or MB…

My question, if I trade in her car for a lease, can I ask the dealership to only apply a set amount (say $8K) toward a new lease and have them cut me a check for the remainder of the equity? Is that doable?

Appreciate it…and apologize if it is a silly question…rather ask here than in front of some salesman…

Thanks
Scott

[z0lt3c]

Yes, it’s doable. But better to put all of that equity back into your pocket or use just enough to cover taxes/fees.

[trism]

@FoleyAMG

if I trade in her car for a lease

Make sure you solicit multiple other offers as well, to ensure you don’t get lowballed on your trade.

[max_g]

@FoleyAMG

My question, if I trade in her car for a lease, can I ask the dealership to only apply a set amount (say $8K) toward a new lease and have them cut me a check for the remainder of the equity? Is that doable?

Yes that’s doable. Now let’s consider whether you are getting a good deal.

[forbs]

It would be easier to ‘get a check for all’ then you write a check for the new lease. Less chance for them to slip something by you.

[valek.jw]

In TX though, your trade in value will reduce your sales tax burden on the new lease. So, when you look at offers given to you by 3rd parties make sure you factor in the sales tax savings into that equation.

This would only not be in play if the vehicle you are looking at has lender sales tax credits.