trading in your car

How does trading in your car work when you are currently leasing it.



For instance I have a 2006 Toyota scion xa I'm leasing and I want to trade it in for something biggerfrom the same dealership. How would that work? Would it be worth it?

Probably post and run

Quoting ❥New Beginnings:" How does trading in your car work when you are currently leasing it. For instance I have a 2006 Toyota ... [snip!] ... I'm leasing and I want to trade it in for something biggerfrom the same dealership. How would that work? Would it be worth it?"

I am curious too. I didn't know you could lease something that old. I thought it was only new models and you had to turn it in after 2 or 3 years. I intend on lurking. lol

We attempted this with our toyota scion xb. If I can remember correctly we were quoted a price where we would still owe $2,000 and that would be added to the new loan or lease. But, our car is way over the estimated yearly mileage. How far into the lease are you?

Quoting Not tellin:" I am curious too. I didn't know you could lease something that old. I thought it was only new models and you had to turn it in after 2 or 3 years. I intend on lurking. lol"

I believe it has to be either new or a certified used car. It's a 3 year lease, then at 3 years you can trade, buy, or sell. We leased our 2011 Toyota Scion xB. We have a .0043% interest rate right now and pay $250 a month on it, I believe the total price was around $20,000. After the first three years if you buy it, it then goes up to a normal interest rate, probably between 3-7%, I honestly can't remember what ours will be. But after that our payments will be $350 and we will still owe $10,000.

We pretty much have to keep ours, otherwise we will be paying a fortune because we have gone way past the 12,000 annual mileage limit.

Mine had like 40,000 Mikes when I bought UT but now had almost 85,000 my Lear is 3 1/2 years old