Overhaulin' - Can any dealer buy your lease car?

Can any dealer buy your lease car?

I have a 2007 CR-V and would like to get a different car. My lease is up October 2009 and I'm only $2000 upside down on my note. If I buy a used car from another dealership, other than Honda, will they pay my lease off or the pay off amount?

Public Comments

yes, they will pay the rest of the car off
These days, you can do anything with a leased car that you can do with one you own. So yes, the dealership can take it in on a trade, but you will be responsible for making up the $2,000 in negative equity. But that's a small enough amount that you should be able to roll it into your new car loan. I'd say if you're only upside down $2k on a lease, then you're in pretty decent shape.
simply..no they wont. You owe that money, there is no way around it. You can try to get something different, but you are going to take a huge hit and your payment will most likely be more than what you are paying now. just ride it out until the last 3 months or so, then a dealer would be willing to make your last payments. Also, buying a car just because you want something different is bad way to go about it, you can hurt yourself pretty badly in the financial sense. Deal with it for now, it will be gone soon enough.
Yes, they can do that. Congratulations, you already know the status on your lease. Most people have no idea. I am assuming that the total remaining payments are far in excess of $2000 and therefore you are in a very good position. The only reason you owe that much is it is still nearly 1 1/2 years from the end of your lease. Leasing is a very good idea, but you should try to take a car to the end of the lease. If you like to trade more often, ask for a shorter term. However, be aware that the payments do go up accordingly. Anyone can buy out (or payoff) your lease. It is the same as paying off a loan on the car. Good luck with your purchase.
If you are only 2k upside down on your lease, that's pretty good, most people are many thousands upside down. Yes, you can trade it in and the dealer will pay off the note.
The answer is yes. But perhaps you would like to think about your choices. There are disadvantages and advantages too for both whether you sell or trade in a car. If in any case you would like to sell a car, it would be your responsibility to look for a buyer and it might take eons to do that; as for trading in, you would be free from all the hassles but you have to make sure of what your car's worth and stick to that. For more info on trade ins and leasing, please refer to these web sites: http://www.carleasingsecrets.com/blog2/ http://poddcars.blogspot.com/ http://carmoneylogues.blogspot.com/ http://cartipsnetwork.blogspot.com/