What to do when lease is up and when?

Ask the Hackrs
1

What do you do when your lease is up in order to get a new lease Hackr deal, and when do you do this? I have a lease expiring in 3months

2

Old Lease:

  • Schedule pre-return inspection (if that is your intention), and
  • Find out your current captive’s lease extension policy (in case you need it)
  • (If relevant) get 3rd party buyout quotes to see if you have equity

Separate returning the old lease from the new one. Don’t start by comingling the transaction.

New lease (now):

  • if you don’t have a top 1-2 choices, you should be test driving cars

For your short list:

  • check inventory levels, start looking for comparable deals (not advertised offers), eg Marketplace and Shared Deals
  • I wouldn’t request programs from Edmunds more than a month-prior to actually leasing. When you do, get everything for your zip (RV, MF, inc) - plug it all into the calculator to see what’s possible
  • get your expectations in-line before you start talking about numbers with deals

Don’t

  • ask for (lots of) advice
  • take none of it, then
  • post a Shared Deal that you got pounded

Be patient, thorough, and flexible in this crazy market if you want any kind of deal on the new lease.

Good luck!

4 Likes
3

I’m getting deja vu.

1 Like
4

Thank you!
If I find a lease and a great deal, when should I take it in relation to end of ole lease?

What if the deal is time sensitive and me accepting new lease means for 1-2 months I have 2 leases?

5

only you can decide. I’ve twice parked the new lease for 1-2 months while running out the clock / putting miles on the new one. In one case it was a deal not to miss, and once there was zero inventory and I found exactly what I wanted.

You might want to search: every possible variation of this has been discussed in the past 3 months in relation to third party buyouts.

6

I’d recommend checking through the “Share a Deal” section on here and see what people have been able to achieve to set your expectations with the current market. Great deal is a relative term however its pretty rare to see to much on here get categorized as a great deal lately, especially if your frame of reference is from your previous lease.

With 4 months to go on mine unless something is to magically change in the marketplace, I am fairly certain I will be extending my lease as long as possible.

1 Like
7

Same here, I can’t find a lease to get into and replace mine that is ending in 5 months - I shall be extending the lease until this crazy market changes…

8

No offense but you are asking questions which no one can answer for you. No one will be paying your monthly here but you, so only you can decide if it is worth accepting a new lease before your current one ends.

1 Like
9

This topic was automatically closed 60 days after the last reply. New replies are no longer allowed.