Hey everyone, I hope this is the correct sub to post in, and if not I would like a helpful pointer to one that might be able to help. I just need help understanding a couple of things regarding leasing an automobile.
I am now fully aware I got royally screwed at the dealership when getting into a new car. I was hoping someone could help me figure a couple of things out. My lease payment is extremely high. I can afford it, but really don't want to keep paying super high, so I want to lower it. I was wondering, I just saw that my particular car has a trade in range on Kelly Blue Book for $14k - $15k, but I owe a lot more than that on the car when I check out the payoff amount for this car.
My lease is for ~16k but the payoff is for $27k. I guess I just need a but of help understanding what all of these numbers mean as I am just now getting stuff together and need someone to help me figure this stuff out.
- Would I be able to take this leased Honda, and take it to another dealership like Toyota?
- How can I lower my lease payment without screwing up more?
- How can I check if I will have positive equity or negative equity on the car
- How can I get the lowest number from the dealership next time if I ever decide to go through the new / used car rout
I guess some important notes are I am currently going Lease to Finance. Leasing the first half then financing the rest, hence the 16k lease but the 27k payoff.
Any help for my smooth brain to understand this would be highly appreciated.
Additional Info:
2019 Honda Civic EX Coupe
Lease first payment was August 2019
Down Payment was 600 (I know... I know...)
Monthly payment is 608.23
Miles allowed 32,000.
Submitted July 03, 2020 at 05:24PM by mosfet182 https://ift.tt/2YX0NHV
