Can I trade my car in from a Finance to a Lease?
What I mean by that I still owe money for my Finance car; I wanna know is there is any possible way can I get rid of my finance car and trade it in for New Lease Car?
Public Comments
- You can do it, but you're going to pay a small fortune. The leasing dealer will take your remaining balance on your current car and fold it into the lease payments on the new car. So you'll be paying principal on the old balance, plus interest, plus the leasing fee. In addition, they'll give you rock bottom trade in price for the car. Bottom line, you're going to get screwed doing it that way. You're better off going to a bank and seeing if they will lend you the money to pay off the existing loan, while extending the loan period to lower your monthly payments. There's no free lunch. Rick I'm a retired ASE Master/L-1 Technician. I still keep current with the latest automotive technology. Visit my blog for cool articles and TSB's: http://free-auto-repair-advice.blogspot.com
- Yes, you can trade in your car anytime you want to. It may not be a smart decision financially but you can do whatever you want.
