How do dealerships take your previously leased car? - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

Mavtop · 04-14-2009, 01:59 PM

Hi,

I am wondering how dealerships can take a leased car from a customer when the customer comes in to buy a new car, before the previous lease is up.

For example, I have a VW that is leased until 4/17/10, but the dealership says they can take the car off my hands when my new Camaro comes in.

I'm not sure how they can do that? Any explanation would be great.

Thanks

THE EVIL TW1N · 04-14-2009, 02:04 PM

Basically they pay off the residual. They purchase the car, just like you can purchase the car at any time.

Sometimes they can be tricky though as to how the lease is worded. Sometimes it may be worded in that only YOU, the original leasee, can purchase the vehicle. They do this because the car may have a residual in their favor and they want to keep the car to make bigger profits.

comiskeybum · 04-19-2009, 04:02 PM

exactly why i dont lease. that and the mileage restrictions

04-14-2009, 01:59 PM	#1
Mavtop 2SS CGM with IOT Drives: 2010 2SS CGM with IOT Join Date: Apr 2009 Location: Phoenix, AZ Posts: 66 View My Garage	How do dealerships take your previously leased car? Hi, I am wondering how dealerships can take a leased car from a customer when the customer comes in to buy a new car, before the previous lease is up. For example, I have a VW that is leased until 4/17/10, but the dealership says they can take the car off my hands when my new Camaro comes in. I'm not sure how they can do that? Any explanation would be great. Thanks

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04-14-2009, 02:04 PM	#2
THE EVIL TW1N Banned Drives: 2003 Cobra Convertible Join Date: Feb 2009 Location: CA Posts: 2,925	Basically they pay off the residual. They purchase the car, just like you can purchase the car at any time. Sometimes they can be tricky though as to how the lease is worded. Sometimes it may be worded in that only YOU, the original leasee, can purchase the vehicle. They do this because the car may have a residual in their favor and they want to keep the car to make bigger profits.

04-19-2009, 04:02 PM	#3
comiskeybum Banned Drives: 2010 Chevy Equinox LS Join Date: Aug 2007 Location: South Bend, Indiana Posts: 799	exactly why i dont lease. that and the mileage restrictions