contract you signed.TIP: Don’t trust the residual buyout figure on the original lease^
Lease companies usually have clauses allowing them to adjust the buyout,so get an updated one. Once you know what the true buyout is, you can
compare that to advertised retail prices and decide if it’s worth putting it upfor sale. I’ve had numerous cases where the banks make adjustments to
the buyouts based on “market conditions;” if I didn’t find out beforehand, Icould literally sell the car and lose money. Get it in writing.
to the lease turn-in; it takes an average of 45 days to sell a car. TIP: It is best to start researching these 60 to 90 days prior^
If you do this, it not only makes leasing more attractive, but also can giveyou a nice down payment. I almost always put my clients’ leased cars up
for sale before turning them in, and we sell at least eight out of 10 of them,netting anywhere from $1,000 to $3,000.
SUMMARY
If you follow the tips here, selling or trading in your car won’t by theincredibly frustrating process most people experience. You’ll have