matt_0144

i recently leased a 2011 g coupe s model back in april...the pay off is 41,000 i believe i leased it for 39 months and paid 7 months worth of payments so far.. if i wanted to go trade it in for a G sedan would I be getting screwed or is it something that would work out? i pay 450 a month now... any dealers on here that can help ?

SlateBlueG37x

If no takers here try LeaseTrader.com - The Most Recognized Name in Auto Leasing - Car Lease and Lease Swap. Great site.

carz

you got the car in April, but made 7 payments so far? that doesnt make sense.

As far as trading in is concerned, technically theres not a whole lot you can do. There is a VERY slim chance a dealer can make a deal with you and swap the car.

your best bet is to find someone to take over ur lease.

matt_0144

alright.... i made 7 payments on the lease to stay ahead incase i lost my job or was tight on money at any point in time....

DaCePtak0n

Even if you list your call on something like LeaseTrader or Swapalease, you'll be still be on the lien. Meaning, you'd essentially still be liable for any of the financial mistakes the new owner makes on his/her financial obligations. IFS sucks for that one reason and one reason alone.

Whether you'd be screwed? Afraid so...

kchu221

iTrader: (4)

i tried doing the same thing, i wanted to get out of my current lease and get into a new 2011 g coupe, but the amount of money that the dealer wanted was not even worth it....

gooddeal

The problem is not the dealer. When people negotiate a lease, they want low payment thus IFS needs to inflate the residual. It's a good deal if you stay for the length of the lease. I think the residual is about 5% higher than the real market.

Beer Magazine

Unless you want to lose about $10,000 drive the car and suck it up. There is no way to get out of a lease and retain that payment. The car isn't worth your payoff and the dealer isn't going to eat 30 payments to help you.

qirex

Howcome you want to switch to the Sedan?
Are you really liable if you sign it over to someone else?

carz

wow, ive never seen someone do that. its really a bad idea for a lease. if something should happen to the car, you lose all that money.

I understand the reason behind it.....but either way you're going to spend that money on the payments. so if u spend it now or later, doesnt matter.

yes, IFS are *******s with trading lease ownerships.

jddssc121

as mentioned, never prepay on a lease (that includes down payments). If you wreck the car, you lose that money. if you have extra money you want to set aside for it, put it in a bank account and leave it alone until it's needed on a monthly basis. Or, you could have (at signing) done multiple security deposits to bring down your money factor (thereby reducing your monthly payment amount)

as far as getting out of the lease, unless you find someone on swapalease to take over your lease contract, you're going to lose a ton of money trying to get out of it. There's no magic way to return it to the dealer and not lose money (regardless of what they tell you). That's why i personally buy instead of lease, even if i think i'm going to sell it earlier than 3 years. I can get out whenever i want, and even if i lose cash, it's going to be less than if i terminated the lease early.... A lease you are truly locked in until the contract is up. Example - I bought a 2011 WRX ($0 down), and after 8 months decided it wasn't for me. I sold it, and only lost about $1,200 on the deal (which i covered with cash to not carry it over into the new loan). If i had been on a lease, I would have lost waaay more than that to get out of the car @ 8 months.