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Re: Leasing & miles (archive)

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Posted by Dean on April 14, 1999 at 15:44:16:

In Reply to: Leasing & miles posted by Mike on April 14, 1999 at 14:44:26:

If you wait until the lease pay-off and the trade-in value are about equal, you can go to whatever dealership you want and lease whatever car you want by just trading it in on a new lease. In the worst case, the dealer simply buys your car from the lease company at the pay-off value and you're down with it. If you negotiated a low residual value (and don't get rid of it too early like I usually do) you can actually get a credit towards the new lease with the difference in pay-off and trade-in values. The obvious advantage to this approach is that you don't have to worry about the lease mileage limits. Your car's market and trade-in values don't depreciate anywhere close to the penalty that the lease imposes if you exceed the mileage limit.

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