Turn In Lease Early

mstrluckymstrlucky Member Posts: 106
edited January 2019 in Honda
My lease is up in a year. Went to dealer to see about trading in early to get in a 2019 lease and they said it's not worth it for me. Is there anyway i can do this without screwing myself? Thanks.
Tagged:

Comments

  • MichaellMichaell Moderator Posts: 258,547
    mstrlucky said:

    My lease is up in a year. Went to dealer to see about trading in early to get in a 2019 lease and they said it's not worth it for me. Is there anyway i can do this without screwing myself? Thanks.

    short answer - no

    Never a wise move to trade out of a lease early.

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige

  • mstrluckymstrlucky Member Posts: 106
    Thanks Michaell.
  • dublin25dublin25 Member Posts: 12
    Another question regarding turning in a lease early. If I turn in a lease early but make the remaining payments, do I still pay the sales tax on those remaining payments? TIA
  • MichaellMichaell Moderator Posts: 258,547
    dublin25 said:

    Another question regarding turning in a lease early. If I turn in a lease early but make the remaining payments, do I still pay the sales tax on those remaining payments? TIA

    Yes.

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige

  • lowmoneyfactorlowmoneyfactor Member Posts: 66
    Michaell said:

    dublin25 said:

    Another question regarding turning in a lease early. If I turn in a lease early but make the remaining payments, do I still pay the sales tax on those remaining payments? TIA

    Yes.
    Affirming what mod Michaell wrote.

    Yeah, that lease is a contract. We got out of payments and tax once when the car was hit and deemed salvage with deployed airbags. So the contract is voided. Other than that?
    mstrlucky said:

    My lease is up in a year. Went to dealer to see about trading in early to get in a 2019 lease and they said it's not worth it for me. Is there anyway i can do this without screwing myself? Thanks.

    They didn't try to roll your payments into your new lease: too obvious I guess (they DO try this when you're two or three months away from the end of your term, though)
  • pcsavvypcsavvy Member Posts: 13
    I have a lease ending in March 2020 and the way it was explained to me if I decide to get a new car more than 6 months before my lease ends, the deal will be treated as a regular trade in. By waiting until at least 6 months or less when my lease ends then it can be treated as a early lease turn in or sell the car to the dealership or trade it in whichever deal would benefit me the most.
    You can check Edmund's and various other online websites to get a rough idea what the current trade in value, private sell value and what the dealership sells value is and compare it to what the current payoff is. However you really do not start the lease turn in process until you are within 2 months of your lease ending.
Sign In or Register to comment.

Helpful Tools

Most popular vehicles