Trade In Lease Early

mstrlucky

Have a year left on my 2022 Honda CRV lease. Pay off as of now is $23,100. Want to get into a prologue. Do you think there's a chance the may eliminate the remaining payments if I trade in early and not roll in the remaining payments into new lease? Thanks

Michaell

You need to determine the trade value. Your Honda dealer can put a number on it, and if it’s more than the buyout, you’ll have equity to apply to the next lease.

Or, if the trade value is less than the payoff, you’ll have negative equity that you must satisfy- either by paying it off or adding it to the cap cost is the new lease.

You can also use the online resources - CarMax, etc - to determine the trade value.

mstrlucky

Michaell said:

You need to determine the trade value. Your Honda dealer can put a number on it, and if it’s more than the buyout, you’ll have equity to apply to the next lease.

Or, if the trade value is less than the payoff, you’ll have negative equity that you must satisfy- either by paying it off or adding it to the cap cost is the new lease.

You can also use the online resources - CarMax, etc - to determine the trade value.

Thanks.