Can u turned in a leased car early for another?
05-31-2004, 09:14 PM
#1
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Can u turned in a leased car early for another?
Just wondering guys, i need to get a bigger car and was looking to the MDX. What type of fines would i pay if i wanted to trade in for another lease? if any? or can i trade it in to buy another car?
05-31-2004, 10:16 PM
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Some manufactures will allow you to turn in your car 3-6 months early (some more) as long as you get another vehicle from them.
I know with my Aunts GMC Envoy, she ended the lease over 1 1/2 years early and got the GMC Yukon..
Just gotta ask..
I know with my Aunts GMC Envoy, she ended the lease over 1 1/2 years early and got the GMC Yukon..
Just gotta ask..
06-01-2004, 02:34 AM
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I only had my TL-S for about a year and i traded it for a G35c. The TL-S was leased. The dealer basically pays off whatever else you owe on your current car so that you can get a new car. Only problem is that you will be upsidedown on the price of the car. Since the Tl-S was only a year old, the balance between what i owed and what the car was worth wasn't that great. The dealer pays what the car is worth and you have to pay whatever else is left. So its either you pay off the upsidedown cost or the dealer can mix in what you owe in your monthly payments for the new car.
06-01-2004, 07:45 AM
#6
If it's for another acura. The dealer would treat it like any trade in. Find out the buyout. See what the delaer will give you for the car. If's it + great you are in the money. If your upside down, they can add it to the $$ amount of the new car, or you can pay it up front. I traded my leased 02 CLS for a 03 6 speed & this is how it worked. I choose to pay what was owed up front. So my out of pocket was almost $6K after all was done.
06-01-2004, 07:49 AM
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I traded in my Leased 98 Integra GS-R when I bought my 01 CL-S...I was three months early and the dealership had no problems with it. They ate the last three payments to get me into the CL-S...I think a lot of it has to do with whether you're buying/leasing another car from the same dealership, to be honest.
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06-01-2004, 10:14 AM
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Originally posted by 03TL-S
I only had my TL-S for about a year and i traded it for a G35c. The TL-S was leased. The dealer basically pays off whatever else you owe on your current car so that you can get a new car. Only problem is that you will be upsidedown on the price of the car. Since the Tl-S was only a year old, the balance between what i owed and what the car was worth wasn't that great. The dealer pays what the car is worth and you have to pay whatever else is left. So its either you pay off the upsidedown cost or the dealer can mix in what you owe in your monthly payments for the new car.
I only had my TL-S for about a year and i traded it for a G35c. The TL-S was leased. The dealer basically pays off whatever else you owe on your current car so that you can get a new car. Only problem is that you will be upsidedown on the price of the car. Since the Tl-S was only a year old, the balance between what i owed and what the car was worth wasn't that great. The dealer pays what the car is worth and you have to pay whatever else is left. So its either you pay off the upsidedown cost or the dealer can mix in what you owe in your monthly payments for the new car.
As stated, there are no 'penalties' per se, just being upside-down is penalty enough.
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