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You don't necessarily have to put it towards the truck, but it would help the tax payments by lowering the overall cost of the vehicle. And obviously lowering the monthly payment too.
Yeah that makes sense, I guess I just meant from more of a process point of view. Are they making you buy out the vehicle, then paying you to trade it in? Or are they just buying out your lease without you having to do anything. The latter would be cleaner and make more sense, but I just wasn't sure if that was possible or legal.
The dealer can most definitely buy out the lease. Would be no different of a process then you doing it yourself. As long as the leasing company gets paid they don't really care where the money comes from.
That's what I was looking for. Thanks HSKR!
This is what I'm thinking. I've thinking about trading for a left over Eco diesel. My 21' Big Horn is set up just the way I want it. I'd to go through the process all over again to get a newer truck to where mine is now. My truck is setting right at 25,000 miles and I haven't had any problems with it. And my truck will be paid for in three more years.I test drove two different Laramie's, and I even though I realize its a nicer truck, with leather, 19 speakers and other toys, I can honestly say I like my 21 Bighorn better. I feel like the seats are more supportive, the way it drives and just over all like it better. Plus I would end up buying all new accessories, tonneau cover, bed rug, new E rated tires for towing, etc. I really appreciate the posts and opinions, especially those that state how I already know what I have, and it may be best to keep it.
I've ended all my leases woth the dealer paying off the lease - makes it super easy and they do all the paperwork a d cut you a check or give you credit on a new vehicle. The dealer usually gets the same buyout or sometimes a better deal than you do.
That makes sense, thank you. I did some looking at a chevy / gmc dealer to see what they would give me for a buyout and then a deal on a new truck. First of all, the prices were eyewatering, but they told me since I was so close to my lease end that they didn't know if they would be able to do a trade in on it or not. I left the guy my card and told him to run me some numbers on new trucks. He called me an hour later with prices and said they could trade in my lease, but they wouldn't be able to give me any extra equity from it. Seemed like a bunch of bull to me. Conservatively figuring from KBB, I assumed I stood to make 3-4k in equity. On the low end. The whole thing gave me a bad taste, and I think I'll end up just buying out for now.
