Quote:
Originally Posted by FLAMESBURNOIL
if i lease a new car...do you have the option to change finance?
Lets say my buyout after a 4 year lease is 12,000 - can i roll in any time during that 4 years and drop down 12 grand? - and call it my own...
thx
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No, because then you would be able to buy brand new cars for half price. For a $12,000 residual, that means your car was probably worth ~$20,000 new. You can take out a lease on your car, make one month's payment, then give them $12,000 and own a $20,000 car.
The $12,000 is what is left after 4 years of payments. So your lease payout starts at $20,000 and works its way down to $12,000 as you make payments. At any time you can phone and see what your current payout is and pay that ammount and own the car immediately. I did this to sell off a lease part way through it.