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End lease early?

Eneubauer

Eneubauer

Go Kart Champion
So I leased a 2010 golf 2.5l back in march of 2010 and I have recently wanted to get a new GTI does anyone know if dealerships will allow you to end the lease early if you intend to buy a new GTI. When I had originally started the lease I had gotten a new job and wasn't sure if I could afford the GTI payments but now I realize I definitely can
 
danielj1

danielj1

Go Kart Champion
Yes, you can end your lease early. If you read your contract it states the penalties for early termination. However, it is typically easier to roll into the same brand in these situations.

Read your contract, know your prices then visit your dealer and see what they can do for you. Be prepared to negotiate your best deal.
 
dasVW.com

dasVW.com

Ready to race!
vilesyntax said:
How to get out of your lease early:

Step 1: Find out pay off value
Step 2: See what dealership or carmax will offer for your car
Step 3: Sell leased car
Step 4: Get what you want
Click to expand...

I agree with this approach. You can negotiate more if you don't have anything to trade/get out of.
 
vilesyntax

vilesyntax

Ready to race!
dasVW.com said:
I agree with this approach. You can negotiate more if you don't have anything to trade/get out of.
Click to expand...

Many people think when you lease a car you're stuck with it until the end of the lease. This is exactly what the dealership wants you to think :)

You can potentially make money off your lease if you sell it at the right time and your pay off amount / trade in value all work out..
 
J

JohnnieCroat

Ready to race!
vilesyntax said:
How to get out of your lease early:

Step 1: Find out pay off value
Step 2: See what dealership or carmax will offer for your car
Step 3: Sell leased car
Step 4: Get what you want
Click to expand...


That's what I did with my 2009 Jetta TDI, the dealership whitewashed my lease aka wipe it clean and I got to start fresh with my 2012 GTI.
They offered me 15,300 for my car. I did that, than sell it privately and deal with capital gains tax. I could have sold it for 19500 according to kbb.com.
 
C

cacophony555

Ready to race!
JohnnieCroat said:
That's what I did with my 2009 Jetta TDI, the dealership whitewashed my lease aka wipe it clean and I got to start fresh with my 2012 GTI.
They offered me 15,300 for my car. I did that, than sell it privately and deal with capital gains tax. I could have sold it for 19500 according to kbb.com.
Click to expand...

You don't pay capital gains tax on the sale of a used car as you're typically loosing (lots of) money.
 
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