Getting a new lease with 7 payment left on the old one.

MO1111

Hi,
I have 1000 miles to reach my limit on 2017 Jetta SE lease with 7 payments left, total of $2500.
I have an offer for a new lease 2019 Jetta SE 36 months /15,000 a year sign and drive $310.00 zip code 44145.
What are my options to negotiate the 7 payments to get the best deal?
Thank you!

Michaell

MO1111 said:

Hi,
I have 1000 miles to reach my limit on 2017 Jetta SE lease with 7 payments left, total of $2500.
I have an offer for a new lease 2019 Jetta SE 36 months /15,000 a year sign and drive $310.00 zip code 44145.
What are my options to negotiate the 7 payments to get the best deal?
Thank you!

There are no negotiations - you signed the contract, you owe that money.

You should find out if the $310/mo payment quote already includes the unpaid payments being rolled into the new deal.

How much do you drive? How many miles will the 2017 have on it at the end of the lease, do you think? What are the current payments?

Here's the deal - so long as the amount of the mileage penalty is less than the sum of the outstanding payments, it makes sense to drive the current car.

Let's say your current payment is $250/mo - with 7 payments left, that's $1750. At .25/mile penalty, you'd have to be 7000 miles over your allowance to break even.

No real reason to ditch the current car, and pay that $1750 as part of the new deal, for a car you won't be driving. Wait until the end of the lease, then figure out your options.

The dealer is using fear to get you to commit to a new deal that isn't in your best interest.

Michaell

MO1111 said:

Thank you. The unpaid payments is not included in the $310. By the end of the lease I will put roughly an extra 9000 miles, my current payment is $355/mo.

OK, let's rework the math

$355/mo * 7 months = $2485 in remaining payments.

If you will be 8000 miles over the mileage allowance at the end of the lease, that is $2000 in charges.

Better to ride out the current lease, then roll the mileage charges into a new deal.

MO1111

Thank you. The unpaid payments is not included in the $310. By the end of the lease I will put roughly an extra 9000 miles, my current payment is $355/mo.

MO1111

Thank you for your help, things make more sense now.