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Discussion Starter · #1 ·
ok , a few of you may be getting tired of seeing how displeased i am with my leased caliber. sorry. anyway are there any car salesmen in here that can tell me if it is possible to trade in a leased vehicle on another vehicle with out putting money out of my pocket or increasing my payments or screwing my credit? thanks in advance.
 

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When your lease is "up", your vehicle will have something called a 'residual value' - what the leasing company thinks the vehicle is "worth" on the open market at the end of your lease. When your lease is "up", you usually have a few choices - but you MUST first have the car inspected by the leasing company - they will look for any damage to the vehicle, make note of it, and check the overall condition, keeping in mind "normal wear and tear" from normal use. If they find any damage above and beyond "normal wear and tear", you owe the leasing company for the repairs. After the inspection, you can:

1. Drop off the car and walk away, owing nothing more to the leasing company.
2. Use the car as a trade in on another vehicle - if you try this, the value of the vehicle is (what the dealer offers) - (residual value). Simply put, if they offer more than "residual value", you make money - if they offer less, you pay money.

Hope this helps......
 

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Discussion Starter · #3 ·
i get all that stuff, actually they said when my leas is up that it will only be worth 8 grand. my question is do i have to wait till its up to trade it in? i dont want to put money out of my pocket, or increase my payment or screw my credit.
 

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Call your leasing company - only they can answer your questions on early termination.
 

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your car all the way through the lease should have a decreasing residual value.

the car has to be verified, if it really is worth the actual value.

you might have to pay the difference to get in a follow-up-contract.

i gave back my stratus a year early and it was for several reasons below the residual value. so i had to reach into the pocket to get out of the old lease and into a followup-contract.

your car is new. there should not be a big difference and keeping you as customer might be a motivation.
 
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