Trade a lease for a lease

johnlopez

i have a 2014 accord as a lease I still have 2 years on it the payoff is $7k I went to Lexus and saw a 2015 is250 f sport. Lexus said that they will buy out my current lease and give me the is250 for $289 a month on a 27m 10k lease with $0 down is there a catch here someone pleas help 

kyfdx

johnlopez said:

i have a 2014 accord as a lease I still have 2 years on it the payoff is $7k I went to Lexus and saw a 2015 is250 f sport. Lexus said that they will buy out my current lease and give me the is250 for $289 a month on a 27m 10k lease with $0 down is there a catch here someone pleas help 

The Lexus dealer can buy your car from the bank that has your lease.... but, your payoff isn't the amount of payments you have left.. The payoff is the residual, plus your payments (minus a little bit, most likely). If your Honda is currently worth more than that payoff, the Lexus dealer uses that money to subsidize the lease payment on the new Lexus..

That does look like a cheap payment, though.... just make sure it all stays the same, once you get ready to sign the papers. They may be making an offer that they can't back up, once they get the specifics on your lease payoff.