Trade it
Trading is a buyout and a purchase happening at once. The part that matters is whether the equity in your current car actually shows up in the new deal, or quietly disappears into it.
The estimated value is above your buyout price and you need another car anyway.
Equity is easy to lose track of inside a bigger deal. Ask for the trade figure and the new car's price as separate numbers.
Same day at a dealer
Use the gap between your car's estimated value and your buyout price as a down payment on whatever comes next.
What it means
If your car appears to be worth more than the buyout price, that difference is equity. Trading applies it toward your next car, whether you lease or finance it.
How it works
- 1A dealer pays off your lease at the buyout price.
- 2Anything the car is worth above that becomes equity credited to you.
- 3That credit goes toward the down payment on your next lease or finance deal.
- 4If the car is worth less than the buyout, there is no equity, and rolling negative equity forward is expensive.
What it costs
Estimated equity
Value estimate minus buyout price
Both sides of that subtraction are approximate until a dealer puts a real offer in writing.
Wear and mileage charges
Often avoided
A trade usually replaces the return inspection, but confirm it in writing before you assume the charges are gone.
New deal terms
Whatever you negotiate
Equity does not fix a bad rate or an inflated price. Keep the two negotiations separate.
What to do next
- 1Get an estimated value range for your car before you talk to anyone.
- 2Ask two or three dealers for a written offer on the car alone.
- 3Confirm in writing that the offer covers the lease payoff and any end-of-term charges.
- 4Only then start negotiating the next car.
- 5Check the final paperwork shows your equity as a credit, not as a discount that appears and vanishes.
Estimate your lease, what can you get for it?
Find out whether there's estimated equity in your car before you walk into a dealership, and what a trade could realistically be worth against your payoff.
Step 1 of 6 ยทYour goal
Compare with the others
Hand the car back at the end of the term and settle whatever the inspection and your contract say you owe.
Purchase the car for the buyout price already written into your lease, instead of handing it back.
End the lease before the term is up, either by transferring it, selling the car through a buyout, or paying the lender's early termination amount.
Trade it: common questions
Not necessarily. Whether another brand's dealer can pay off your lease depends on your lender's rules, which vary and change.
Ready to see your estimated number?
Three minutes, no account, no credit check. Just an honest range and a clear read on your best exit.