If your gonna lease a car, and are planning trading one in. Does your trade-in have to be paid for?

Answer 1

No, but the unpaid balance will be added to the lease if it's more than the trade-in allowance.

Ignore anyone who says you can't do that. People do it all the time, it's all perfectly legal and the dealers know exactly how to handle the transaction legally.

But I'd seriously reconsider leasing. It can be a major hassle. You're limited to the number of miles that you can put on the vehicle and there are steep charges that must be paid in full when the lease is up if you go over the limit. Also, most lessors have a much more conservative opinion of what constitutes "fair wear and tear" than you probably do and often tack on steep reconditioning charges as well. And at the end of it all, you have nothing to show for your payments as the car goes back to the lessor at the end of the lease.

Answer 2

Leasing and buying are two different options altogether. You're paying off a loan to a car and now you want to rent another car. You want to trade the car you can eventually own in so you can get the car you really want right now.
Find out all you can about lease contracts. There are many different agreements and not all of them will necessarily meet your needs.
You can always turn in a car, but there may be penalties that you didn't expect. Go to kbb.com
nada.com
edmunds.com
and get an idea what your car is worth. Realize that the dealer will not even give you a close number to that price.
One last note, leases can be haggled so don't just take the saleperson's first offer.

Answer 3

If your vehicle is not paid for, you don't own it yet. You can't sell or trade a vehicle that you don't own. Sometimes the leasing company will pay it off for you, but if they do you will have to pay them back for doing that.

Answer 4

basically when you trade your car in..they will give you so much for it..if its less then you owe on the vehicle your screwed.

they will tack it onto the lease amount..
its called being upside down...they pay off the car but tack on the remaining amount compared to its value

if the value is more then you owe that will be used to pay off the car and whats left will be used toward the lease downpayment

Answer 5

you can trade in a vehicle that you aren't done paying on, i know lots of people that have done it

Answer 6

yes