Originally Posted by Sleestak
So are you saying one can trade in early or turn in early? Is there a difference in penalty or is it waived since you're leasing/buying another Jeep? Sorry, I'm just not up on the early lease turn in/trade in scenario.
When it comes to trading in, it's just a question of the numbers and in that regards, not too different than an ordinary financing. After all, you could also buy your car you're leasing at any time. All you need to do is give the leasing company a call and ask for the current pay off quote. That number - compared to the current value of the vehicle - determines how much financial sense it makes to turn in early.
So if your payments are higher due to a lower residual, you are in fact paying off more than others and reach the break-even point earlier (or I should say, come closer to it because if you got a very low payment and optimistic residual, there might not be any break-even point at all).
Though I'm not 100% sure when it comes to a penalty payment, I can tell you that dealers LOVE folks who trade in early because in the end, it's an additional sale. And keep in mind: If you plan on buying another ride, only a dumb dealer is going to ask for additional charges for slight excessive wear like little dings in the doors etc. After all, you can return and trade-in your ride at ANY dealer and there are many of them out there who would rather make a sale than scaring you away due to excessive wear.
Now, if you simply want to ditch your ride and buy a different brand, this might be a bit more tricky...
2015 Grand Cherokee Summit 3.6L 4x4
, Bright White, Dark Brown interior
, Platinum Package, CD-Player.
2015 Lincoln MKZ Hybrid Reserve
, Ruby Red Metallic
, Light Dune interior
, Technology Package, Panoramic Roof, 19" Painted Pockets Wheels, Multi-Contour Seats, THX Audio.