[TranceLvr]

My question is what happens to the extra equity I have in the car I am trading in since I am only putting down $1500 on the lease. I figure I have about 5k in equity in my current car, so that would mean I have a surplus of about $3500 after down payment. Does the dealer give me $3500??

Thanks, and I hope everyone is having a great day!

 

[Mike 325xi]

My question is what happens to the extra equity I have in the car I am trading in since I am only putting down $1500 on the lease. I figure I have about 5k in equity in my current car, so that would mean I have a surplus of about $3500 after down payment. Does the dealer give me $3500??

Thanks, and I hope everyone is having a great day!

They will write you a check for the difference. I had leased a '97 4-Runner and put $0 down (except the security deposit) and had about $12.5K in equity in a Nissan 300ZX TT and they wrote a check for the difference with no problem...well that was after trying to convince me to put more down on the lease.

 

[TranceLvr]

Mike,
Thanks for the quick reply. That is what I was hoping for.

BTW, you traded a 300zx tt for a truck. I hope there was a good reason!

 

[Mike 325xi]

Mike,
Thanks for the quick reply. That is what I was hoping for.

BTW, you traded a 300zx tt for a truck. I hope there was a good reason!

Temporary insanity!!

Actually that was my third 300ZX in a row...it was time for a change, so I went the whole 9 yards from 2 seaters to an SUV! Kept the 4-Runner until late 2000 and went back to a car...the BMW.