Originally Posted by Kegs
My dealer called me, wanting to trade in my 2014 limited that had 19 months left on the lease, 20 months old. I traded up to a 2015 Summit 4x4 and only had to roll $500 in negative equity but got a $5k lease to lease rebate. Lease wasnt a problem at all. I went from Chrysler Capital to Ally in the new deal
I've leased from Ally and would never do it again, Is Ally still adding the $2500 buy out fee to their leases? When my 2011 lease was up the payoff was around $23,000, the market value of the Jeep $34,000 and trade in value was $31,000. When I tried to use that equity towards a new lease Ally would not sell the Jeep to the dealer for the pay off amount of $23,000 dealer would have to pay the full market value of $34,000 and I tried several dealers all of which could not buy it, only I could buy it from Ally for the payoff amount according to Ally. This did not make sense to me, I would have to take out a loan to buy it for $23,000 plus the added $2500 fee and sales tax just to use the equity towards a new lease. However, when I went through the group buy at Koons they were able to get the Jeep for the payoff amount plus the buyout fee of $2500. When I asked Koons how they were able to get it for the payoff amount and other dealers could not, I was told they do so much business with Ally that they have a special relationship with them. Koons gave me the $31,000 for my trade minus the payoff of $23,000 and the $2500 fee and I was able to put the rest of the equity towards my new lease. Hopefully Ally stopped doing this and good luck with the new ride.