Is it even possible? or are they not willing to buy out your existing lease to move you into a new one?
thanks,
Jeff
Is it even possible? or are they not willing to buy out your existing lease to move you into a new one?
thanks,
Jeff
Who would be "they"?
A lease is a fixed price / time contract, if you end early , the full amount is due and to get any $$ back you would have to by out the lease and then resell, not a chance this would be done without losing some serious coin.
2012 Crystal Red Volt #10921 - Plug Powered #76
Are you interested in 2013 features over an older one? I don't know that the new features are worth the cost of breaking the lease, etc. I'd think that maybe we'll see more feature changes in 2014 if the sales continue as they are into the 2000+ range per month. Plus, who knows, maybe 2014 prices will drop or change a bit more on the beneficial side.
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This brings up the possibility of an interesting concept for early lease holders. The terms for the current leases are even more favorable than the original 2011 ones. For someone who has an original lease and prefers to continue leasing they may be able to work a "3-way" closing with a dealer and another individual that wants to own a Volt but cannot afford a new one and maybe doesn't qualify for the full tax credit. The lessee could buy out the lease and sell to the individual and close a new 2013 lease at the same time. Given the existing lease residual buyout cost, retail resale value, and current leasing terms; the deal may be a win, win, win for all parties. The lessee may end up with a new 2013 Volt at a lower monthly cost, the dealer has a sales, and the owner of the 2011 Volt may be in it for less than retail (and buying from the original owner under these circumstance is ideal for a used car acquisition).
This could all be possible because of the lower 2013 price, lower finance rate, better lease incentives, and better residual values than the original lease assumed. In fact, I have a coworker that may be interested in being the purchaser of the used Volt in this scenario. I kind of wish I leased my Volt now.
Last edited by Koz; 08-18-2012 at 11:26 AM.
Koz
C8906
Carmax---see how much they will buy it for in comparison to the buyout. Or the other option is swapalease.com
They being a dealer.
There are several examples where dealers and or Gm have incentivized early lease exits to get you into your next one. I was looking to see if there are examples.
Nbonaire,
No real features. Just examining restarting the clock and perhaps lowering my outflows. That's all.
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