Advantages of Trading Your Lease In Early

June 15th, 2011 by

Why should I trade my leased vehicle in rather than turn it in? This is a question we get from many of our customers. A lease is based on a residual value which is basically what the leasing company is guessing that the vehicle will be worth in a certain amount of time and miles. In most cases with Honda’s, since they hold their value so well, the vehcile is worth more than the residual value towards the end of the lease. A lease has a payoff just like a conventional purchase if the lease is not termed out, meaning driven to the end of the lease contract. We have seen many instances where the vehicle is worth up to $1000.00 more than the payoff a couple of months before the lease is ending.

Advantages To Trading A Leased Vehicle In Early:

  • Avoiding any wear and tear or excess mileage charges
  • Taking advantage of great current lease specials
  • Just want a new and improved Honda

So before you turn in your lease come see me, Alex Murry at Patty Peck Honda. I’ll show you how you might able to get additional equity for your next vehicle. If you have a Non Honda Lease we may still be able to save you money. View our Current Honda Lease Specials.