Getting out lease early for another

[Int3grity]

Just a question here.

If your vehicle was leased and you had some time before it ended can you trade it in for another vehicle? If so by how much do you think they will jack up the price on the lease? After the lease I am looking into going back to a car. love the mazda 6 but also would consider other choices at that time. But if it was reasonable I might just trade in now. What are your thoughts

 

[AWmustang]

You can call your leasing company or go to their website. They will tell you how much you owe to get out of your lease (A). This is a set figure determined by how much you still owe in monthly payments and what they said the car would be worth when you turned it in.

Then you go in and get a quote for it's trade in value (B). You will have to fork over the difference between A and B (I guarantee you B will be lower). Or you can roll that difference into the new lease/loan.

However, breaking a lease early is usually very expensive. It is probably better to just run the lease out, even with gas prices the way they were.

 

[koala]

You can ditch off a leased vehicle the same way you ditch off a financed vehicle. The difference is that you'll be adding the headache that your CX-7 is worth less than its buy-out.

You're better off riding it out.

 

[Infymus]

I dumped my CX7 six months early. It cost me $1900 dollars. The above written by others here is correct. You can't get out of your lease, but you can buy out. If you trade to another car, you have to trade the money you have left on the lease over to the new vehicle.

As a side note added later, my CX7 fully loaded was about $35k. It had every option you can get on a CX7, flat out. It was worth $17.5k. If I hadn't leased it, I would not have been able to dump it. Because of the price of gas - and that the CX7 is now rated at 13-18 MPG - the dealership I use can't sell them. They also don't stock the Tributes anymore, and they're offering $5 to $7k off the CX9.

They were going to bring back a newly designed Mazda 6 with the CX7 engine (turbo) in it, but scrapped the idea because of fuel costs. They did a mid-year redesign on the Mazda 3 and are pushing them really hard. I got a fully loaded Mazda 3 GTS for $20800. I think they are still going to do the 6 with the CX7 engine, but not until next year.

 

[60181]

leasing offers more options than most realize. sure, you can trade it. you can sell it, you can buy it and refinance it. how you will come out in the end all depends on how the lease was structured. in todays market, if it's an SUV you may have a harder time with trade/resale values though.

each leasing co. is different, but most will only allow you to roll 110% of the sticker price into a new lease, thus if you're too far upside down, you'll have to cough up some money. Personally, never go upside down intentionally. Bad move all the way around.

PM me if you have any questions. I grew up in the biz and ran some dealerships in my time.

Just a question here.

If your vehicle was leased and you had some time before it ended can you trade it in for another vehicle? If so by how much do you think they will jack up the price on the lease? After the lease I am looking into going back to a car. love the mazda 6 but also would consider other choices at that time. But if it was reasonable I might just trade in now. What are your thoughts