Trading 2015 back for a 2013, good deal?
02-27-2016, 08:09 PM
#12
Member
Wow man...since you opened this topic up for discussion - I would seriously rethink your decision to trade down and take this as a lesson. Why would you ever sign yourself up for 8 years total on any car? I wouldn't do 5, 6, or 7 either just because it's a depreciating asset.
I may be the only one, but it's hard to believe so many people on here trade 2013 and 2014 for a model one year newer. If you can't write the lease off, just don't lease. It's a losing game for most.
I may be the only one, but it's hard to believe so many people on here trade 2013 and 2014 for a model one year newer. If you can't write the lease off, just don't lease. It's a losing game for most.
02-28-2016, 03:28 PM
#14
On a lease, it's a question of money factor. What's the money factor on the lease? Those of us buying are able to refinance immediately with a credit union for less than 2% APR. I don't know if that's possible with a lease, but it sounds like you're paying thousands extra in interest due to a high money factor.
02-28-2016, 04:20 PM
#16
Beer Gut Extraordinaire
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Gx2Lariat (03-12-2016)
03-11-2016, 05:52 PM
#17
Senior Member
Thread Starter
*update
Update!
So after a LOT of thought on this I decided to keep the my 2015.
I bought a "beater" car - 2005 Ford Taurus w/ 150K miles to drive to work to keep mileage down on my truck. This way I at least have options at the end of the lease. I can either just turn it in and get something else or at least if I do decide to buy it it'll only have about 33K miles on it.
PS- I figured out it probably would've been around 11 grand in negative equity so I said no thanks.
So after a LOT of thought on this I decided to keep the my 2015.
I bought a "beater" car - 2005 Ford Taurus w/ 150K miles to drive to work to keep mileage down on my truck. This way I at least have options at the end of the lease. I can either just turn it in and get something else or at least if I do decide to buy it it'll only have about 33K miles on it.
PS- I figured out it probably would've been around 11 grand in negative equity so I said no thanks.
03-12-2016, 08:13 AM
#18
Save the Manuals!
Update!
So after a LOT of thought on this I decided to keep the my 2015.
I bought a "beater" car - 2005 Ford Taurus w/ 150K miles to drive to work to keep mileage down on my truck. This way I at least have options at the end of the lease. I can either just turn it in and get something else or at least if I do decide to buy it it'll only have about 33K miles on it.
PS- I figured out it probably would've been around 11 grand in negative equity so I said no thanks.
So after a LOT of thought on this I decided to keep the my 2015.
I bought a "beater" car - 2005 Ford Taurus w/ 150K miles to drive to work to keep mileage down on my truck. This way I at least have options at the end of the lease. I can either just turn it in and get something else or at least if I do decide to buy it it'll only have about 33K miles on it.
PS- I figured out it probably would've been around 11 grand in negative equity so I said no thanks.
03-12-2016, 08:30 AM
#19
You can "trade-in" a lease vehicle just like one with a loan. However, I'm not sure how it works if you try to go back to the dealer you leased from. They will probably try to tell you you have to pay fees for getting out of the lease but I never did that. I always went to a different dealer.
So basically, trading it in so early will be no different than trade of a truck you "bought". Depreciation is going to cost you.
Leasing is not a "bad deal" like everyone assumes. It's just most people are ignorant of how a lease works and how to negotiate a lease when getting one. (Not directed at OP)
So basically, trading it in so early will be no different than trade of a truck you "bought". Depreciation is going to cost you.
Leasing is not a "bad deal" like everyone assumes. It's just most people are ignorant of how a lease works and how to negotiate a lease when getting one. (Not directed at OP)