Does anyone no how car leases work.....

[Tonyscoots84]

hey guys i have my truck that im looking to get rid of.... somehow they said i signed up for a 39 month lease... hmmmm i only signed up for a 36 month lease.. problem #1... watever the case may be i have 12 months left on my lease... i was thinking and i dont no how it works...

let say i go to bmw wouldnt they just pay up the rest of my lease which is $3000.00 left 12months X 250.00... then they would add that to the car i lease from them correct....

when i spoke to the bmw guy he said they could take my truck in and give it back to jeep. which means they would pay the rest of the lease...

if anyone knows how all this works please let me no... any help would be greatly appreciated....:Yikes:

 

[Deanos]

PM Astoria, he works for a car dealership.

 

[pmui]

hey I'm also in the market to lease a car in a few months. anybody with tips and do and don't would be helpful.

Peter

 

[Tonyscoots84]

yea make sure they dont $crew ya... check over all the paperwork 2 or 3 times and speak up when u dont no something... remember ur leasing the car and there making money off of you... get what u want not wat they wanna give you.... Remember they want your business (well they need ur business)

 

[steveo32]

Useually when you go to trade it in they take what the value of the car is and then seewhat is owed on it. so let say your truck is worth 13k and you said you owe 3k they would take that pay the 3 and the rest would go towards the car you get from them. Depending on the dealership they would either then sell the car for more on there lot or take it to the wholesaler. Now if you owe more than your cars worht they would pay it out right and tact on the rest to the new lease. Like my friends mom is paying like 350 for a hyundi which is rediculous but she owed too much on her trade. Also if thats the case then the dealership might not want to take the car in casue it would be a lose to them. And when you go to trade in your car check out kelly blue book and also there;s a couple other site's that give you good trade in value. kelly is usually the highest so the dealership don't use them they use others so that they don't need to give you more $$$. SO if you look it up and get a couple quotes you can go in there and say "well i want x amount for my trade". I know BMW is a hard dealership so it's going ot take some work to get them to work with you on the price but if you persitant and you shop around I say you can get a good amount off sticker. OHHHH an another word of advice if you def going with BMW make sure you look for this special they run sometimes. When you put in a down payment in the lease contract you can put it down as security and not $$ down and what happens is when you trade in that bmw and get a new one the money you already put down rolls to the next car. SO its like have more $$ to put down second time around

 

[Tonyscoots84]

great info steveo... i actually have to wait till jan. 07 to give back my car... jeep which is the truck i have now said i can give it back like 3 months early no problem cause they lied to me and signed me up for a 39 month lease not a 36 month lease... o well i guess more time for saving up and i guess ill just get myself something nicer...

 

[Astoria]

Tony hi.
To get off a lease you can do it in two different ways.
1. months left on the lease X monthly payment
Example: 12 months X $200= $2400

2. Trade in value - Pay off amount = positive or negative equity ( most cases with the American brands is negative equity)

Example : Galves Book trade in value $ 12000 - Bank Payoff $14000 = $2000 negative equity.

http://www.galves.com/

:shhh:
Now is up to the manager and salesman to go whatever way they want to do the deal. Not always the best way for you.

When a lease says is a 39 month lease its a 39 month. When they tell you that they did a mistake and they can get you out on 36 months is because they have incentives from the company to put the customer into a new lease.

Is good to shop around but you have to know what you are doing.
I can give a lower price at first and then bump you up to a higher number.

Steveo32 nobody gives you kelly blue book values.
( dealers are using KBB only when they want to sell you a used car or when they tell you that they give you KBB they pack the difference ( Galves book and KBB) into the deal

Take care
Gary

If you need help just ask:grouphug:

 

[Tonyscoots84]

thankyou astoria.....

 

[Chiefmcfuz]

All I know is you pay alot of money and at the end of the lease you either pay alot more money or you don't have s csr.