I was thinking about trading my leased 03TLS for the new 04TL. My sales guy at my dealer says there are no penalties and people trade in leases all the time. Is this true? Or are there penalties? Any info would be appreciated..thanks

 

i dont think there would be a penalty for YOU (dealerships take the hit), but you'd lose everything you put for down payment

 

Get it in writing brother get it in writing .

Jens

 

There shouldn't be any penalties, however you would take a huge $$ loss trading it it. I traded my leased 02 CLS in for a 6 speed & had to pay close to $6K cash to get into the new car with the same payments.

 

There are no penalties but there is always a catch (as per fuzzy02CLS said). The hit will be in the price of the new car.

In order for you to end clean with your trade in, the dealer needs to assume the buyout price of the car.

 

Which is prolly a (large)bit more than it's worth to them...

Look at the numbers before you make a move...you could be wasting bug, big mulla...$$$