Time and time again I hear this from customers: how am I going to trade in a lease that I don’t own, have multiple payments left and pull equity from it?
Well it doesn’t happen in every circumstance but more often than not your current lease can save you money. If you know what your doing!
First customer is at the end of his lease, about 15,000 miles over what he contracted for and at a very minimum has a $1,500 bill for mileage plus any wear and tear found when inspected and a $350 turn-in fee.
After shopping 37 dealerships to find the deal I wanted, I traded his car in saving him $1,500 in over -mileage, $350 turn- in fee and he probably would have been charged $150 – $250 for scratches on the rear bumper. Not enough… I also pulled $2,000 in equity out of this lease return! Total savings on this over -mileage lease return … over $4,000! Not to mention the crushing deal I got on the new car!
Second customer has two months left on his current lease at $532 per month and a turn -in fee of $350.
This was actually an easy deal, got lucky with the first dealer I contacted. Traded in his lease return saving him the two last monthly payments (totaling $1,064), $350 turn -in fee and pulled $5,896.00 in equity out of this lease return! Total savings for this lease return that hadn’t reached its maturity date yet – $7,310. What will blow your mind more than the savings on the lease return… he is now paying less for a $73,000 Mercedes Benz than he was for his $35,000 Toyota!
I see people throwing THOUSANDS of dollars away every day by not knowing what they’re doing. Don’t be one of these people!
There is a simple way to avoid this mistake – Go here now!
Yes, I am a fan of money and do enjoy seeing $97 credits in my account daily but this will be the best $97 you ever spend and will come back to you over and over again.
Do you think the lease return Manager at the dealership is going to say, Excuse me but you have $500, $1,500, $2,500 or $10,000 equity in the lease you’re returning and we will be mailing you a check. Not going to happen – but this report will find every penny available!
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