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Early Car Lease-Return Deals

Edmunds.comEdmunds.com Member, Administrator, Moderator Posts: 10,315
edited September 2014 in General

imageEarly Car Lease-Return Deals

Is it a good idea to return your car lease early? Here's how to tell if an early

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    carlinenegcarlineneg Member Posts: 1
    If you had $1,779 in equity why not just "sell your car" to the dealer or other party? You could then take that money to cover your fees on the next lease and save $3,600 in monthly payments.
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    idgystinks1idgystinks1 Member Posts: 44
    Good article. I found BMW's pull ahead program pretty simple and valuable. Since the offer paid my last three payments and first payment of a new one I did not blink - I had almost used up contract mileage anyway. You could either lease or finance the new one. With loyalty money and going from 535 to 328 I went from $820 to $436 per month with zero out of pocket.
    oddly, in the past with a Nissan, no less, the deal never worked for me either and wasted my time. That tainted me on offers for years.
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    carlovhercarlovher Member Posts: 1
    2013 Civic Ex lease
    12K/36 months
    $252 per month payment
    $1200 down including 1st mo.payment
    NJ dealer
    taking 2 months payments from my current lease
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    needacar24needacar24 Member Posts: 3
    Hi,

    I am trying to get a new car. I am in love with the new chevrolet Impala. it cost more than i have. I am whiling to either lease it or buy it but i do not have any idea on what would be the best choice.

    it cost, according to www.chevrolet.com, $32,885 and I only have 16.000

    I need help please!
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    kmart00kmart00 Member Posts: 28
    I have been receiving offers in the mail from competitor dealerships. Its really tough to guage if the 'two remaining payments' they will cover plus $1k would be rolled into the new lease somehow... From this article, it seems like it actually might be worth going in to the dealership making the offer...
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    jraserojrasero Member Posts: 12
    Getting out of a lease early without some kind of consequence is rare. Yes dealers can get you into a new car but at what price? It's not uncommon for manufactures to offer paying your last 3 payments if you lease or fiance a brand new car and it's not uncommon they will provide some kind of incentive to do so like a $1000 loyalty cash. What is rare is a year or even have way through your lease to get into a new car without adding years or additional money to your lease.

    The best way to figure out if you can cleanly get out of your lease and call your leasing company and ask for the dealer buyout price since this is what the dealer will pay and does NOT include tax. Next go to Edmunds or KBB and get your used car value Trade In. If the trade in value equals or exceeds your dealer buyout price you have a shot of either walking away from your lease early or getting into a new car.

    Secondly, if your trade in value exceeds the dealer buy out, note the dealer isn't going to tell you this. They just want to cover your buyout and get you into a new car. Be firm and ask for market trade in value, this will give you equity to put into a new car or the dealer can write you a check.
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    JimB71JimB71 Member Posts: 1
    So let’s say I have a bmw with three months left on the lease. I trade it in for a new one on pull ahead program. Are those three payments added on to the new lease?
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    kyfdxkyfdx Moderator Posts: 241,173
    JimB71 said:

    So let’s say I have a bmw with three months left on the lease. I trade it in for a new one on pull ahead program. Are those three payments added on to the new lease?

    If it's an actual pull-ahead program from BMW, then they eat the payments.

    Without that, they'll either be added, or the dealer will give you a worse deal, so they can cover them.

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