Can I trade my lease at end of term for another car I don't want to lease want to buy?
- Obi Wan KnievelLv 74 weeks ago
A lot of people didn't understand your question, or just don't understand how this stuff works. That happens a lot in here with lease questions.
When you turn in the car at the end of your lease, a whole lot of wear & tear is completely forgiven... if you lease another new vehicle from them. If you're not leasing another new car, you get charged for all the dings, dents, scratches, odometer readings and coffee stains that happened over the lease term.
But if you were buying a new car from the same dealership, I'm sure they could make a few exceptions and allowances. Maybe they'd treat it just like you were leasing another vehicle, maybe they'd just come close. They are in this business to make money, after all, and repeat customers are where the real money is made in any business.
Lease agreements are governed by very few legislated laws, because they don't have to be. A lease agreement is a binding legal contract between two parties, and each individual contract can be altered by mutual agreement any time. If the lessor and lessee agree to make changes to what the contract says, any court of law will let them.
- Anonymous4 weeks ago
With all that money you are flushing down for a lease why don't you just save up and purchase a car to own?
- PANKOLv 54 weeks ago
Sure. At the end of the lease, you turn the car in. If you want to avoid extra charges, finance through the same company. Otherwise, you'll have to pay for chips, dings, excessive wear & the last two months.
- MichaelLv 74 weeks ago
No, you cannot trade in the car that you have been borrowing from someone else in order to buy a car of your own.
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- Anonymous4 weeks ago
No dumbass, you can't because you have nothing to trade. End of story.
- ScottLv 64 weeks ago
No. You don't own a leased car, so you can't trade it in. You may either turn the car back in or buy it at the amount you negotiated when you signed the lease.
- ?Lv 74 weeks ago
No. You can't "TRADE" a leased car because you don't have any ownership rights to that car. When your lease ends, you give the car back to the dealer, pay any extra fees or charges, and walk away with NOTHING.
If you want to BUY a car, You're welcome to do that, but you'll need a CASH down payment to start the financing.
- NeverLv 74 weeks ago
The leased car does not belong to you so it would have little to no value on a trade. But you can certainly shop the car for cash offers before turning it in.
At the end of the lease, its possible the car is worth a few hundred more to a name dealer than the cost of the buyout. Thus the person could trade their car and sign over their right to buy it to the dealer. The dealer would not have to pay taxes.
And depending on condition and mileage, it could be a win-win. Not huge money but maybe a few hundred to as much as $1000-1500 if its extra low mileage and garage kept. The dealer has no downside because they can simply turn in the lease at no cost to them if they don't want it.