Trading in a lease well under mileage for a new lease?

Hi Hackrs,

I have a 2016 Golf S that has 15,8xx miles of the total 36,000 with 10 months remaining on the lease. The residual value is $12,121 and my monthly payment is $297. Miles won’t be increasing much anymore due to a very short commute.

Unfortunately I don’t have a Carmax near me however, I’m curious about how a trade might work for a new lease? Will I likely get fleeced by a dealer? Any creative options since my mileage is so low? I won’t be buying the car at lease end since i’d like to drive an AWD vehicle. Plan A was to wait 10 months and start the hack process at that point, but if anyone has a creative idea I’d love to hear it! If I’m able to net $0 and get into a new lease, I would consider that a win if possible.

Thanks! in advance!

You need to have the car appraised and see how it compares to buyout. Without doing that this is all just guessing.
You can try shift.com to get an estimate.

How would you get fleeced? It’s a lease, you turn it in and your done(at the end of the term), I really doubt you’ll have equity. I’d call VW towards the end and see if you can extend it, although your payment is pretty high for that vehicle, you’re probably better off getting a new lease. Use this site to help you get a good deal and see what vehicles lease well, $297 on a Golf S is not very good. I think VW has been running a lease pull ahead program so keep your eye on the mail, they usually forgive the last three payments. A Tiguan S 4motion would be the way to go and its cheaper than what you’re paying now. You could always email some VW dealers now and they could ball park your trade and probably give you some numbers, but don’t go into the dealership.

I just went onto KBB, even right now your car is worth less than the residual. You’ll need to wait until the end of the term or use the VW pull ahead program if it’s available. If it’s already worth less than the residual, it’s only going to get worse.

I put my car on Turo with 10k miles under the limit and it paid for a year’s worth of lease payments. Probably against the lease terms (it was Infiniti) but I took the chance.

Many people put their leased car on turo even though most leasing companies don’t allow so it’s not something I would recommend. The risk/reward isn’t really there IMO.

Do you know if SoCal Honda does a lease pull ahead, as you mentioned about VW? I only have 2 payments remaining.

Usually if a manufacturer has a pull ahead program, they tell you about it, mail, something in your bill statement and/or the dealer might mail you/call. I’m not familiar with Honda but if you haven’t heard anything, I doubt they have one.

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Yes I know lol. At least I didn’t put any money down :rofl:

I was thinking about the Tiguan as an option. They seem to be leasing pretty solid right now. I’ve seen a few go for $220-250 /month on this site recently.

OP, im in the same boat as you. Im also leasing a 2016 VW and only have 17,1xx miles and about 11 months to go (on a 36 month 12k mile lease).

FYI, Im leasing a 2016 Passat R Line with Lighting package. Payment is $276 a month and I only had to put down $450 due at signing (first payment and DMV). The Golf leases terrible FYI. For that kind of payment, you could’ve lease a base GTI S if you shopped around. Anyway, not that my Passat lease is Hackworthy but the Jetta and Passat will always lease better than the Golf.

There is nothing “hack worthy” to lease right now, otherwise I’ve would’ve taken the car into CarMax (theres one about an hour away) to get it appraised and see what they would give me (for kicks and giggles).

I was looking at the Accord Sport 2.0T manual but Honda is leasing like crap right now and the S90 and Terrain deals are gone. Im just going to stick it out this summer and fall and hope Volvo brings back the S90 deal or something else hackworthy pops up. Might as well drive the car and enjoy.

Besides, im totally happy with my Passat, especially that I have an APR tune done on it. :sunglasses:

I saw a YouTube video last week of a guys car he rented on Turo. Someone rented it for a few days and trashed it. Not just a little either. Some people treat rental cars like garbage containers.

Based on that video I would never consider renting my car on Turo - You just never know.

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It’s definitely YMMV. You could restrict your rental to people who have already had many positive ratings from past rentals.

Don’t remind me!!! Once I dove in to the threads here on this forum it really sunk in that I could be in a GTI for a similar payment. Live and learn. Next time i’ll be more prepared :+1:

A good rating doesn’t prevent an accident, or a major ding/scratch/blown tire that happened unintentionally.