Trading In A Leased Car

Trading in leased car to purchase a car?

I found the residual value of my car, and the payoff amount. will someone show me how much I will be getting out of that? I want to PURCHASE a car..

You can use your vehicle as trade to purchase a new one, however it can not be listed as a “trade”. The dealership will have to add the negative amount to the sales price of the new vehicle you want to purchase. In addition, it might be possible for the dealership to call for a dealer buyout as it may be cheaper than your payoff. You can also take your current monthly payment and multiply it by your remaining payments to see which is cheaper.

This is the same as trading in a car, with the exception of no sales tax credit (if you live in a tax credit state). I will show you how it will be written.

Sales price= $23,000
Your difference= $7,000

The buyers order will list the sales price as $30,000 so you’ll have to qualify for the additional amount. Good luck and you can email if you have questions.

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