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Old 21.10.2019, 04:46
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Don Molina Don Molina is offline
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Re: Car leasing transfer

let's say a car is worth X in today's market

The remaining monthlies plus the residual, is Y

If X>Y, that means you have some equity in your leasing, if X<Y then you're underwater, so you will sell your car and still owe money.

This is the basic calculation, depending on first payment, residual, monthly, and current value, you can understand if someone will take it as is, if you can get some money back, or if you have to pay someone to take over.

You would also have to calculate in some admin costs or penalties, but again unique to your situation.

Don't lease unless you're very very sure that you want to keep the car for at least more than half the leasing period, it's very expensive to get out of it in the first half, even if you want to cash cover the balance and buy the car outright.
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