Early lease trade in calculation

[wvinson]

I'm thinking of turning my '19 Limited in 6 months early for a truck I found on a lot instead of ordering. Would they roll those payments into the new lease or would it just be 3 since Chrysler capital return leasee's get to trade in 3 months out without penalty? Also, what happens since my residual is around $36K and they're offering me $53k? Just don't want to get screwed. They find so many ways -- I hate dealerships!

 

[wvinson]

Also, mileage is normal at 32k.

 

[wallyuwl]

You can trade it early just like a vehicle you own. The lease gets paid off first, just like a loan would, and you pocket the difference if trade is more than lease residual. If trade is less than lease pay off then you owe the difference. We did this with a leased vehicle about 8 years ago and ate $3k (but it worked the same as keeping it the full lease term). With inflated trade values now you can probably pocket major $$$.

 

[wvinson]

Thanks for the info -- Difference should be $13K in my favor because of the crazy market. Just figured I'd apply that to the new lease and lower my payment but figured they'd find another way to make money off the deal.

 

[GKIII]

Thanks for the info -- Difference should be $13K in my favor because of the crazy market. Just figured I'd apply that to the new lease and lower my payment but figured they'd find another way to make money off the deal.

Of course they will. We live in a capitalist society. The trick is finding what works for both parties.

 

[wallyuwl]

Thanks for the info -- Difference should be $13K in my favor because of the crazy market. Just figured I'd apply that to the new lease and lower my payment but figured they'd find another way to make money off the deal.

On a lease don't put money down, especially that much. You are better off buying the new one. Or just taking the profit and buying an ATV.

 

[Hydroblueguy]

Thanks for the info -- Difference should be $13K in my favor because of the crazy market. Just figured I'd apply that to the new lease and lower my payment but figured they'd find another way to make money off the deal.

This might be true, but just remember whatever you buy or lease will cost much more then the last one did