Can i trade in my lease car for another car?

i have a 36 month lease on a jeep on which payments are a bit out of my means now, can i trade in my lease jeep for another vehicle which could be either lease or finance?

Can i trade in my lease car for another car?

It depends on your leasing company. Most (not all) leasing companies today, i.e. GMAC, FMCC (ford motor credit), will allow you to trade in your leased vehicle. But, there are a few leasing companies that will not allow it. First call your lease company and find out if they allow it.

Then, what will happen is the new dealer will calculate your remaining payments, or your trade negative equity, and use which ever is less, and carry it over to your new purchase or lease contract.

For example, if you have 12 payments left at $400, the amount would be $4800 that would be added to your new lease or purchase payment. Or, if your total balance owed was $20,000 and the vehicle is worth $15,000, then it would be a $5000 difference that would be carryed over so you would want to go the other route.

So, it can be done. It just really depends on whether or not your lease company allows it, and how much the total amount would be to carry over to the new purchase would be.

Hope that helps.

Can i trade in my lease car for another car?

I think that would depend on your contract. Read that and

see where you stand.

Can i trade in my lease car for another car?

Trading a leased car is usually not a good idea because you are upside down for most of the lease.

In other words, you have no trade-in equity to use as credit in buying or leasing another car.

And you really do not want to transfer negative equity from a lease to another lease or purchase -- which will most likely make your payments on a new vehicle higher than your current vehicle, even if you get a lower priced vehicle.

The only way you%26#039;ll get lower payments is if the dealer extends your loan out to 72 months or more. Then you%26#039;ll REALLY be upside down.

Essentially you would be paying off two loans (leases) at the same time -- one high priced lease and another low-priced lease or purchase. Not a good idea. Stick with your current lease until the end, or near the end.