Trading in leased vehicle

jark

I have a leased vehicle with 3 payments left. Is my negative equity just the remaining payments? What if kbb values my vehicle less than my buyout price? Is it my payments and the loss in value combined?

Michaell

jark said:

I have a leased vehicle with 3 payments left. Is my negative equity just the remaining payments? What if kbb values my vehicle less than my buyout price? Is it my payments and the loss in value combined?

Forget about the remaining payments.

Your leased vehicle has a payoff amount, and a trade value. Call the bank holding the lease what the payoff is, and you can head over to this thread to get an expert valuation for trade:

https://forums.edmunds.com/discussion/1212/general/x/real-world-trade-in-values#latest

Then you'll have a good idea how much positive or negative equity you have.