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What do I do at the end of my car lease? Can I use that car as a trade in or do I have to make a new down pmt?

Question : What do I do at the end of my car lease? Can I use that car as a trade in or do I have to make a new down pmt?
I’m just wondering if I’m going to be starting at ground zero at the end of my lease. Right now, I’m looking at trading in a car so that will be my down payment on my lease but at the end of that lease, do I just have to come up with another cash down payment to lease another vehicle or can I trade in my leased car for another leased car? I will not want to buy at the end of my lease. Thanks so much!
zero down lease

Best answer:

Answer by James B
You don’t own it it’s a lease you have no trade in don’t do it.

Down lease Trade

This entry was posted by admin on November 30, 2010 at 10:15 pm, and is filed under Car Audio. Follow any responses to this post through RSS 2.0.You can leave a response or trackback from your own site.

Comments (4)
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#1 written by dadforfive 11 months ago

at the end of a lease, you have nothing. You turn in the car, pay for the damage or extra miles, then walk home. IF you have the downpayment (and they do not take it in fines) They will be happy to lease you another one. Welcome to the trap of renting a car long term. Good Luck

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#2 written by Bill in Kansas 11 months ago

A lease is exactly that — lease. You don’t own anything. When you turn in your lease it will be assessed. You may have to pay penalties — too many miles — damage — etc.

Short version — you start at zero — unless you owe penalties against your lease.

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#3 written by carguy 11 months ago

Leasing is the SAME AS BUYING IF you trade a purchase before the end of the sales contract.
In a purchase when you build equity you may use that as your next (or partial) downpayment.
In a lease, it’s the exact same thing.

Call your lender to get a payoff on your lease. Then find the LOW BOOK VALUE of your car. If it is greater than the lease payoff, you have downpayment for your next purchase/lease.
At the end of the lease all the lease company cares about is the lease end $ $ $ value OR the vehicle worth that amount.
If you want to sell the car yourself – go for it and send the lease company what they need.
It’s just another way to finance where the downpayment comes at the end rather then the start.

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#4 written by BJ 11 months ago

If the car is worth more than the lease buy out at the end of the lease sell the car just before the end of the lease, pay the buy out cost, and use the rest as down payment. My husband and I have done that a couple of times. Another possibility is many car manufacturers offer returning lessees incentives to lease another new vehicle from them, like no money down etc. Check out what the manufacturer of your current car might be offering.

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