You just saved my life . I have 17 more payments left and really just want a car now that I really want. Definitely going to go this route by seeing what other dealerships have to offer
Great Information, my elderly father in law became to ill to drive any longer and Buick would not let him at of his lease and now he pays for a car he can’t use, I’m definitely going to see what CarMax can do. Thank you
It's nice to know that there are in fact ways to escape a lease that you find isn't working out, but it is still a daunting task. But that is the business of leasing love it or hate it.
I returned a leased Honda civic long time ago. I kept super good care of the car and was a few thousand miles under the lease and got money back from the lease or a "trade-in" value on a new purchase..... I'm sure it made super good sense for the dealer.. I'm not saying I worked some great deal out of it but it was still cool because having leased cars in the past and having had to pay at the end of the lease this was a nice change. Great channel Ari... I'm still shocked you only have like 5,000 Subs. That's crazy.... I'm not an idiot when it comes to buying or leasing cars but my next car deal in CA you're gonna work it for me.... wish I would have found your channel before I purchased my e53 AMG. Damn!
I got screwed on my lease with Kia, had a optima SXL 18 car was fine two weeks after having it nothing but issues, finally got tired of it, went back to Kia to try and trade it in for another, looked at a cadenza they came with a payment of 995, so I went to Toyota leases a Camry XSE and took car back to Kia, and got hit with a 12,500 bill. Even after Kia still didn’t want help.
Thank you for all the valuable information!!! And please keep using your hands, it just shows your passion for the topic you’re talking about. I love your hand gestures... ♥️
Hi Ari, This is my first time watching your video and I LOVE this video so much! Your inner struggle to not use your hands so much, is absolutely adorable! Towards the end of the video, I do agree that the hand gestures are a smidge distracting but I truly did learn a lot from this video, so thank you!! 5 out of 5 STARS on this video! Great explanations, as I have taken two of my leases to Carmax and they bought both cars. I'm on my 3rd and I like my Jeep but I want a GMC AT4, so I'm not sure what I want to do just yet. But I had to commend you on your video and your humility. I'm a fan! #SUBSCRIBED
Here's a trick you can do if you want to purchase the car at the end of the lease: Now, normally I wouldn't do it, but I was in a bind at the time. First, I extended the lease for 6 months. It was a Toyota Corolla, so 6 months was the max that Toyota would do. I was biding my time, but at the end of the 6 months, I was still in a bind, so I decided to purchase the car. This is where I found out the secret. Toyota retains more value than most makes and I expected a high buy price, but what I found out was that the extra 5 months actually greatly reduced the purchase price. In fact, the car drops more in value in the extension period than it does over the last 8 months of the original lease. Had I purchased the car at the 36 month mark, I'd have paid a lot more for the car. Suffice it to say, the price was decent for a company that does not negotiate price on a lease purchase. My payment went up only $16 a month. So, if you are ever in a situation where you decide to buy your leased car, don't buy it after the original lease is up. Extend the lease 6 months or more if you can, then go ahead and buy it after that period runs out. I know I was somewhat redundant here, but I think you get the idea. Of course, no matter how smart you are, the dealer is always going to have the upper hand, but as Ari shows, there are things you can do to lessen the blow. Now, would I ever get a lease with a $900 payment? Not bloody likely, unless it was a company car.
My lease is up on my Nissan Sentra in September. I want to purchase a car - done with monthly payment. Going to do what you said - shop around at dealerships.
I don't think all dealers will give you that option to pay the lesser of the two options. That was something either that particular dealer or just BMW offers. The fact still remains that you have signed up to pay the entirety of the lease payments. If a car company wants to they can make you pay the full amount. I wouldn't count on getting the same option that Ari got. Also it doesn't make sense to accept negative equity from a lease AND give the car back to them. If they are just rolling your remaining payments into the next loan or lease you might as well just keep the car and actually get some use out of it for the money you are paying. If they roll money into the next lease you are still paying for the previous car without getting any benefit from it.
mpeg, what I am referring to is having the dealer purchase the vehicle from the lease company. this is an option on most if not all leases. essentially the buyout price is what they are paying, and if the value is lessor, the lease company has no say in what you're allowed to pay. you technically own it for what they are asking from you as a price to buy it.
@@negotiationguides That is not accurate unless you have fulfilled the lease payment obligations. The dealer can only buy the car for the residual once all of the lease payments have been made unless the finance company decides to just be nice and forgive those payments. You may have been presented this option but I don't think it is universal. Check the "payoff" amount on any lease. It always includes the remaining depreciation owed and the residual price plus the "buyout" fee. Sometimes dealers will forgive a couple or a few payments but what they are actually doing is rolling them into your next lease/loan or the manufacturer is giving them an incentive to accept the loss.
Right but you’re neglecting the fact that the difference in the two scenarios will often result in a lesser total amount due. Because the car has actual value, in this scenario, it’s being deducted from the whole balance due as opposed to the remaining payments + disposition option where there is no deduction for market value
@@negotiationguides that would only be the case if the resale value of the car is above the residual and not below it. Honestly, this does not sound like a universal thing. It sounds specific to BMW. They actually have a special program just for scenarios like this. I don't believe every manufacture will offer the options you were given.
Your channel is a great help, I made a similar video on my experience as well but I find great value from your perspective. I personally never had trouble breaking leases for buying a car from the same dealer that sold me the lease, I just buy another car from that same dealer with no consequences to me. I enjoy watching your vids they are very informative thank you sir
I appreciate this lecture. I have 8 months left on my car, I cannot take it anymore my payments are $520 may not seem a lot but los Angeles it's too much. Mind you it's a Hyundai not a mercedes, why am I paying so much!? I'm hoping the dealer can hook me up if I get another car from them. Should I go to the exact Hyundai dealer I went to first? Thanks for your help, you made me feel better knowing you did it and you had way more lease months left.
I lease to own/purchase a semi truck 36 months, two months before I was done paying it off, it had a electrical fire and was totaled out, the leasing company gave me a payoff quote of $9400, and the insurance company cut a check for $37000, and my leasing company is trying to keep my share of the money. What should I do???
I leased a GC altitude 4x4 with 0 down at 434 rolling in 4 payments of 369 a month from a previous rav4. Fast forward when my car was due on Jan I received a letter from Toyota being told that my car was sold for profit at auction. I received half of the negative equity, plus over charge on MV of 300 bucks. Unheard of, but got lucky.
You are awesome! I love all of your videos so much. I’m currently leasing a 2015 genesis sedan AWD and have 4 remaining payments. I’m debating on getting out early so I’m trying to figure the best option and which car I want. I am also a “sporty coup” kinda guy, but the genesis sedan has treated me well. Most dealers are shooting very straight with me as I understand mf, residual, and how it all works thanks to you! Also, hands moving are great! They keep the videos exciting. Keep doing you!
I have 10 months or 10 payments left and roughly 500 miles left on my lease contract. Under the current situation with Ford having a boat load of inventory my value has dropped. Cannot trade to another brand. What should I do????
What about the Residual? Don’t you have have to pay the remaining payments and the Residual? I want out of my 2020 Jeep Unlimited Rubicon Recon and the lease is through Ally bank , so isn’t my buyout the remaining payments plus the residual?
I have a 2017 Chevy Traverse with 2 months left in the lease and I'm waaayyyy over my miles with a bunch of dings and scratches. My plan was to turn the car into a carmax or other dealer. I'm also approved for a loan through my credit union for a new car at a great rate. I just found out today that GM Financial has stopped allowing lease buyout from other dealers as of yesterday July 1st. Now I don't know what to do, I don't want to deal with GM ever again. This is the lease from hell!
Carvana gives you quote and that’s it...thy pick it up. Carmax gives you a quote n you take it to their dealership and inspect it - your rate may change. Carvana is lower but most convenient and as is on the quote. Traded in my GLC to Carvana
Ari, I’m paying $400 a month on a fully loaded 2019 Outback 3.6R but am moving from the Northwest to California for a new job. Suffice to say, I am considering getting out of my lease. I have $12 k payoff on the lease
I have a Mazda lease I’m unhappy with it. Mazda will only let me turn it into a Mazda dealership. I have 2 years left. I want a Toyota. Is my only option to buy the car and then trade it in?
I’m a finance major from an Ivy League school and there is no way an average joe was able to keep up with your explanation, remember those car salesmen and the back end finance guys are pros who know the in and outs and we r there for the taking , but that’s the way of doing business, but I do find your advice helpful, especially about bringing the car to car max for appraisal/purchase, I was hesitant about car max but you vouched got Them so I’ll give the consideration, all in all thanks for the advice and keep up the great work
Yeah I’m still confused on how he was able to get out a bmw lease while owing 21k in outstanding payments + the residual. Especially on a bmw x5 which depreciates like a stone. He must of still had to put down a good 15-20k to get out of that lease. A part that he left out conveniently.
Hi Ari, could you make a similar video to this one, but explaining the options at lease end. Specifically if you want to purchase the car, but the payoff is a lot higher than what the car is worth. Thanks.
$910 a month to rent a car?!? Young people should learn to take emotion out of the car buying experience. Take that money and travel instead! Life experiences over material possessions any day! You’ll be much happier and feel better about money better spent.
I don't know if I am in similar situation. I recently lease a 2019 Toyota Tacoma Off Road. I am wanting to get out of it. I kinda got pressured on leasing this vehicle. I was interested in a Jeep Wrangler. How can I get of it? Could I trade it in?
i have 7 more payments left to a 2018 acura rdx, dealership is calling to upgrade to 2021rdx ....whats the best monthly payment i can negoiate in texas with no money down , 36 months, 12,000 miles , to techpackage with awd ...need advice !!!!!
This may be a stupid for most, but this is my first car lease. I’ve always previously owned. My lease is up in two months. I’m not staying with the same manufacturer. Wherever I decide to go, won’t that dealer purchase my vehicle? Or, will they suggest I return it to the original dealer? I’m way under mileage. I’m hoping the new dealer will want to buy it which I assume/hope will get me a better deal on my new lease?
What can I do? The 4 cylinder model is painfully slow, it is not that fuel efficient, definitely not sporty. I used to have a BMW X3. What a difference.
My car lease is ending in one month and now the dealer is telling me there is a $400 payment at the end of the lease program. My signature is not on that part of the contract which I had no idea about this $400..What's this for ? I don't have any delay payments so the dealer is telling me it's just in the contract with no explanation. Need Help. What should I do ? thanks
Hmm, I have 9 months left on the lease for my 2017 Jeep wrangler unlimited. Monthly payment is $294. I've been dying to get out of it because I need more space for a growing family. This might be my ticket.
I have 6 months left in my Acura lease and the buy out is $10k more than auction value. How can I get out of this lease without going into a new Acura?
I am 18 months left in my 36mo/36k/3yr lease from Subaru. I just want to trade in my current car to buy and finance another Subaru. Reason being, I have been driving more so than usual due to the pandemic. I am not over my mileage limit but am cutting to close. What should I do? Buy another car for cash and drive that until my lease is up???
Same thing happened to me just did a lease in January after total my caddy ct4 deer crash insurance paid off lease but was car less right before my vacation after coming back decided to get a Toyota Camry hybrid was not happy with the payments was actually $7 more than what i was paying for my Cadillac they wanted $900 i told them not paying that got it down to $705 for a 33k Toyota 5 months later long story short i test drove a Tesla 3 and loved it and want it bad but Toyota buy out is 37k will be hard to break this lease without paying out of pocket Tesla is trading it but only giving me $25,800 is there anything you advice so i can get out of this lease please help.
Yay thanks man :) there is no videos on RUclips on how much you can lease a Ridgeline. Please try not to do a high trim. If you don’t mind doing the sport or a popular trim. Thanks again!
I know this is a 5-year old video, but just saw it today in 2024. I have 6 payments left (lease up in October). I will keep my Hyundai Kona (2022 Limited FWD ICE, under 10,000 miles on it) until after the summer; inventory on the vehicles I'm interested in are low still and should pick up by summer. Of course, since I'm looking at another Hyundai or a Toyota, the models I would lease again are popular and have very low inventory.
I have a lease that will be 1 yr in at July. I want to get out of it and BUY something else that actually cost a little more than the current car I have on lease, also from the same manufacturer. Any tips would be great. Thanks in advance! 😷
Do you do truck buying in Los Angeles? Looking for a year end 2021 Dodge Ram limited 1500. I have four months before turn in my lease . Can lease or buy but I want that 23% off from list. I’ve talked to four guys who all got around 20% list $66 paid $53 etc. looking for someone to buy car for me. My old car broker is 80 and retired
I have a 18 remaining $190 monthly payments ($3500 ish), by $1k transfer fee I can keep it when I move, should I do that ? I believe going thru find a buyer and sell it to dealership might cost me more than $3k to get rid of it, it's a 2019 Mazda CX3, any though! buyout is $18700, I believe this is AFTER I made all the payments, Car worth around $28k if I'm not wrong.
Ari, what is the best way to get out of a high interest loan where my car is worth less than what I owe? I owe about 5 grand over what it's worth, do I just continue to pay and rough it out until it evens out?
You can always get rid of leases by going to the dealer and getting a car from them. They will take over your car and whatever payments left. Assuming you have a good original lease and the car is still in good condition. I did that twice. Or you can put the car online for a lease transfer. ( I did it once). Now I am leasing an SRT charger and thinking about a hellcat in the future lol. Most people think leasing is a bad idea but it's not if you know the numbers !
I need help. I am in the exact situation. Let’s say Carmax only gives me $14,000 and I owe $20,000. I would like Carmax to buy my car in order to get rid of it. But I don’t have the extra $6,000. So my question is, can Carmax loan me those $6,000 so I can pay them monthly and the get rid of my car?
I got into an accident just 4mo before my lease was up and the dealership valued my car at 3500 when I owed 13125. With poor credit, It was suggested to me to try carmax to trade it in. Tips??
Got a 2016 highlander Xle with 15220 miles lease up July I believe I have equity what ya think wife wants to downsize looking at rav 4 but want payments under $400 what ya think best option should I just wait and then buy it and sell or just negotiate trade
Nice video, now I have a question. My lease term is 36m currently at month 23. I want to change vehicle but this time i want to buy instead of lease what would happen with my lease if i decide to buy a new vehicle?
Any advice for those of us nearing end of lease and we're wayyyy over mileage limit? Like, 20,000 miles? As I see it, our only option is to buy the car at end of lease vs. $4000 penalty. Am I missing an option?
@@negotiationguides thanks! I wish you were in central new York, I hate haggling with dealerships, and have health situation that makes going dealer to dealer hard. I've also heard you can negotiate buy out price? I can't imagine why they'd let me buy it for less than what's on the contract I signed 3 years ago.
Great video. I have an existing lease with 10 payments. It’s at Toyota Rav 4. Payoff on my end shows 18,500. Carmax is giving me 20,000. But they said the dealer payoff is higher... the bank is Toyota financial itself. Is that true. Today’s a holiday so I won’t find out til tomorrow. But I got a great deal on a Honda which I have to take today. I was going to use that 1,500 towards the down for the Honda. You think I should risk it hoping dealer payoff is same or wait?
Hey Ari, I'm in a bit of a pickle myself with my Acura Lease. I'm leasing an Acura integra Type S and I unfortunately got into a car accident in May- Not my fault. The vehicle has since been repaired and I took it to 2 dealerships (Acura & Honda), and they were offering extremely low offers which would cost me a ton of cash to get out of the lease. The monthly payment I feel reflects a car that's valued much higher than what the dealers offered me. What do you recommend, or do you have any advice?
I have 4 months left on my Chevy Equinox and I'm 1,250 miles over. at this point I just wanna go back to chevy dealer give them lease fee and remainder 4 payments. Then go finance newer used 15,16,17Acura ... what you think?
Calculate how many miles over you’ll bring it back with, and divide it by the number of months left. If you’re over by 10,000 miles, it’ll be close to $2,000 roughly when you return. 5,000 miles = $1,000 roughly. If the sum of your remaining payments is less, turn it in now.
its gonna cost me upwards of $300 plus .25cent mile. goes back in June. Does credit score still take 1 month to fully update ? because seems like credit karma is weekly @@negotiationguides
The manufacturer knew the dealer couldn't help you. The only way I've seen people sell their leases is because they put a ton of money down on the lease(which you should never do) which brought their buyout down so low that it offset the value of the car.
I have 8 payments on my 2021 Honda Civic sport in August it will be 7 payments remaining is it better to wait until next February to sell the car to car max? or should I take it to car max when I reach 6 payments left?
I have almost close to 23,000 miles on the car, also when u mention loyalty credits what does it entail? and can I use it towards it my next lease from Honda?
I’m a bit confused , I have a 2017 BMW and this is my last month . I have a cracked windshield and I’m over miles by 40k and I have a few small dents .. what do you suggest doing ?
Tell the haters you have a little Italian in you, hence the hand talking. The haters can just listen to you if they don't want to see the hand talking.
Thank you for making this video! Currently I have a 2018 Audi Q5 lease about 8 months into it and not really a car I like. Looks like payoff is $42k and KKB is saying around $38k. I’m gonna definitely check out Carmax (Norwood) or Herb Chambers to see what I can get for it.
Why not just find someone to take over your lease? IMO it's the easiest way as I see a lot of leases being taken over every day on the websites like swaplease and others.
I responded to a comment just like this ... i didn’t mention in the video, but unfortunately it was up on LeaseTrader for a few months with a large incentive and no luck :(
Keep moving your hands!!! Never change!!!
🤗😁 .. Edward I’ve got a Ridgeline video coming up for you soon!
I am Italian, we all use our hands when speaking, don't change
Hahaha .. love that!
You just saved my life . I have 17 more payments left and really just want a car now that I really want. Definitely going to go this route by seeing what other dealerships have to offer
Holy crap! You saved me $5,000 on returning a lease early. Thanks for making this video!
Great Information, my elderly father in law became to ill to drive any longer and Buick would not let him at of his lease and now he pays for a car he can’t use, I’m definitely going to see what CarMax can do. Thank you
I’m in the same boat. Just leased a new Mercedes Benz Eclass and hate it already. 😂 only made one lease payment.
Same: I just leased a new 2025 Camry in June and I hate it I want out.. I don't know what to do😵
It's nice to know that there are in fact ways to escape a lease that you find isn't working out, but it is still a daunting task. But that is the business of leasing love it or hate it.
I returned a leased Honda civic long time ago. I kept super good care of the car and was a few thousand miles under the lease and got money back from the lease or a "trade-in" value on a new purchase..... I'm sure it made super good sense for the dealer.. I'm not saying I worked some great deal out of it but it was still cool because having leased cars in the past and having had to pay at the end of the lease this was a nice change.
Great channel Ari... I'm still shocked you only have like 5,000 Subs. That's crazy.... I'm not an idiot when it comes to buying or leasing cars but my next car deal in CA you're gonna work it for me.... wish I would have found your channel before I purchased my e53 AMG. Damn!
I got screwed on my lease with Kia, had a optima SXL 18 car was fine two weeks after having it nothing but issues, finally got tired of it, went back to Kia to try and trade it in for another, looked at a cadenza they came with a payment of 995, so I went to Toyota leases a Camry XSE and took car back to Kia, and got hit with a 12,500 bill. Even after Kia still didn’t want help.
Thank you for all the valuable information!!! And please keep using your hands, it just shows your passion for the topic you’re talking about. I love your hand gestures... ♥️
Hi Ari,
This is my first time watching your video and I LOVE this video so much! Your inner struggle to not use your hands so much, is absolutely adorable! Towards the end of the video, I do agree that the hand gestures are a smidge distracting but I truly did learn a lot from this video, so thank you!! 5 out of 5 STARS on this video! Great explanations, as I have taken two of my leases to Carmax and they bought both cars. I'm on my 3rd and I like my Jeep but I want a GMC AT4, so I'm not sure what I want to do just yet. But I had to commend you on your video and your humility. I'm a fan! #SUBSCRIBED
I love it when you move your hands 🙌, don’t stop!
Here's a trick you can do if you want to purchase the car at the end of the lease: Now, normally I wouldn't do it, but I was in a bind at the time. First, I extended the lease for 6 months. It was a Toyota Corolla, so 6 months was the max that Toyota would do. I was biding my time, but at the end of the 6 months, I was still in a bind, so I decided to purchase the car. This is where I found out the secret. Toyota retains more value than most makes and I expected a high buy price, but what I found out was that the extra 5 months actually greatly reduced the purchase price. In fact, the car drops more in value in the extension period than it does over the last 8 months of the original lease. Had I purchased the car at the 36 month mark, I'd have paid a lot more for the car. Suffice it to say, the price was decent for a company that does not negotiate price on a lease purchase. My payment went up only $16 a month. So, if you are ever in a situation where you decide to buy your leased car, don't buy it after the original lease is up. Extend the lease 6 months or more if you can, then go ahead and buy it after that period runs out.
I know I was somewhat redundant here, but I think you get the idea. Of course, no matter how smart you are, the dealer is always going to have the upper hand, but as Ari shows, there are things you can do to lessen the blow. Now, would I ever get a lease with a $900 payment? Not bloody likely, unless it was a company car.
Do they not fix the residual value when u extend the lease.
How will reduction in car value change the residual value in the contract
My lease is up on my Nissan Sentra in September. I want to purchase a car - done with monthly payment. Going to do what you said - shop around at dealerships.
I don't think all dealers will give you that option to pay the lesser of the two options. That was something either that particular dealer or just BMW offers. The fact still remains that you have signed up to pay the entirety of the lease payments. If a car company wants to they can make you pay the full amount. I wouldn't count on getting the same option that Ari got.
Also it doesn't make sense to accept negative equity from a lease AND give the car back to them. If they are just rolling your remaining payments into the next loan or lease you might as well just keep the car and actually get some use out of it for the money you are paying. If they roll money into the next lease you are still paying for the previous car without getting any benefit from it.
mpeg, what I am referring to is having the dealer purchase the vehicle from the lease company. this is an option on most if not all leases. essentially the buyout price is what they are paying, and if the value is lessor, the lease company has no say in what you're allowed to pay. you technically own it for what they are asking from you as a price to buy it.
@@negotiationguides That is not accurate unless you have fulfilled the lease payment obligations. The dealer can only buy the car for the residual once all of the lease payments have been made unless the finance company decides to just be nice and forgive those payments. You may have been presented this option but I don't think it is universal. Check the "payoff" amount on any lease. It always includes the remaining depreciation owed and the residual price plus the "buyout" fee. Sometimes dealers will forgive a couple or a few payments but what they are actually doing is rolling them into your next lease/loan or the manufacturer is giving them an incentive to accept the loss.
Right but you’re neglecting the fact that the difference in the two scenarios will often result in a lesser total amount due. Because the car has actual value, in this scenario, it’s being deducted from the whole balance due as opposed to the remaining payments + disposition option where there is no deduction for market value
Btw, most captive banks don’t have a buyout fee.
@@negotiationguides that would only be the case if the resale value of the car is above the residual and not below it. Honestly, this does not sound like a universal thing. It sounds specific to BMW. They actually have a special program just for scenarios like this. I don't believe every manufacture will offer the options you were given.
Your channel is a great help, I made a similar video on my experience as well but I find great value from your perspective. I personally never had trouble breaking leases for buying a car from the same dealer that sold me the lease, I just buy another car from that same dealer with no consequences to me. I enjoy watching your vids they are very informative thank you sir
Thank you brother ... which video is it? can you share here?
It’s kinda long..
I appreciate this lecture. I have 8 months left on my car, I cannot take it anymore my payments are $520 may not seem a lot but los Angeles it's too much. Mind you it's a Hyundai not a mercedes, why am I paying so much!? I'm hoping the dealer can hook me up if I get another car from them. Should I go to the exact Hyundai dealer I went to first? Thanks for your help, you made me feel better knowing you did it and you had way more lease months left.
Ally Bank limits your options to the auction, trading, or buying it. They won’t let you sell it to CarMax, Carvana, etc.
I lease to own/purchase a semi truck 36 months, two months before I was done paying it off, it had a electrical fire and was totaled out, the leasing company gave me a payoff quote of $9400, and the insurance company cut a check for $37000, and my leasing company is trying to keep my share of the money. What should I do???
you lose 27.5% of your enthusiasm and will to live when you put your hands down
LOL.. sorry John :(
I leased a GC altitude 4x4 with 0 down at 434 rolling in 4 payments of 369 a month from a previous rav4. Fast forward when my car was due on Jan I received a letter from Toyota being told that my car was sold for profit at auction. I received half of the negative equity, plus over charge on MV of 300 bucks. Unheard of, but got lucky.
Terrific channel!
Just found this...
Bought / leased five BMWs in six years... great advice. Helps sharpens my skills...
Thank you Clay, and welcome!!!
You are awesome! I love all of your videos so much.
I’m currently leasing a 2015 genesis sedan AWD and have 4 remaining payments. I’m debating on getting out early so I’m trying to figure the best option and which car I want. I am also a “sporty coup” kinda guy, but the genesis sedan has treated me well.
Most dealers are shooting very straight with me as I understand mf, residual, and how it all works thanks to you!
Also, hands moving are great! They keep the videos exciting.
Keep doing you!
That's amazing Oscar :)))
I'm very happy you find the value in the content, and thank you for watching the channel brother. I appreciate the support!
If I choose the option to let the bank send the 2020 auto to the auction, is there reserve the bank will set for the sell of the vehicle?
I have 10 months or 10 payments left and roughly 500 miles left on my lease contract. Under the current situation with Ford having a boat load of inventory my value has dropped. Cannot trade to another brand. What should I do????
It is all about the payment with leasing. Good for you. They play back o the contract.
What about the Residual? Don’t you have have to pay the remaining payments and the Residual? I want out of my 2020 Jeep Unlimited Rubicon Recon and the lease is through Ally bank , so isn’t my buyout the remaining payments plus the residual?
I have a 2017 Chevy Traverse with 2 months left in the lease and I'm waaayyyy over my miles with a bunch of dings and scratches. My plan was to turn the car into a carmax or other dealer. I'm also approved for a loan through my credit union for a new car at a great rate. I just found out today that GM Financial has stopped allowing lease buyout from other dealers as of yesterday July 1st. Now I don't know what to do, I don't want to deal with GM ever again. This is the lease from hell!
I don’t think I will lease ever again and the reason why I messed again because they scared me with the finance cost
So i'm in a 2020 Gladiator, 15k miles out of a 3yr 30k mile lease, would you suggest the same Carmax for appraisal and then shop around?
Carvana gives you quote and that’s it...thy pick it up. Carmax gives you a quote n you take it to their dealership and inspect it - your rate may change. Carvana is lower but most convenient and as is on the quote. Traded in my GLC to Carvana
Captive lenders aren’t allowing third party buyouts from Carmax/Carvana anymore, so OEM dealers don’t have to compete on appraisals at all anymore.
Thanks so much! I needed this. Did not know I had options when in my lease.
Tee .. I'm happy you found this, and thank YOU for watching!
Ari, I’m paying $400 a month on a fully loaded 2019 Outback 3.6R but am moving from the Northwest to California for a new job.
Suffice to say, I am considering getting out of my lease.
I have $12 k payoff on the lease
I absolutely love this guy for his informative videos. He can waive his hands all he wants.
:)))
I have a Mazda lease I’m unhappy with it. Mazda will only let me turn it into a Mazda dealership. I have 2 years left. I want a Toyota. Is my only option to buy the car and then trade it in?
I’m a finance major from an Ivy League school and there is no way an average joe was able to keep up with your explanation, remember those car salesmen and the back end finance guys are pros who know the in and outs and we r there for the taking , but that’s the way of doing business, but I do find your advice helpful, especially about bringing the car to car max for appraisal/purchase, I was hesitant about car max but you vouched got Them so I’ll give the consideration, all in all thanks for the advice and keep up the great work
Yeah I’m still confused on how he was able to get out a bmw lease while owing 21k in outstanding payments + the residual. Especially on a bmw x5 which depreciates like a stone. He must of still had to put down a good 15-20k to get out of that lease. A part that he left out conveniently.
OMG people tell me to stop using my hands when I talk too! 🤣 I just tell them I won't actually be able to talk, it's an extension of my voice lol!👐🏿
Hi Ari, could you make a similar video to this one, but explaining the options at lease end. Specifically if you want to purchase the car, but the payoff is a lot higher than what the car is worth. Thanks.
Absolutely!
That’s called being upside down
$910 a month to rent a car?!? Young people should learn to take emotion out of the car buying experience. Take that money and travel instead! Life experiences over material possessions any day! You’ll be much happier and feel better about money better spent.
I don't know if I am in similar situation. I recently lease a 2019 Toyota Tacoma Off Road. I am wanting to get out of it. I kinda got pressured on leasing this vehicle. I was interested in a Jeep Wrangler. How can I get of it? Could I trade it in?
i have 7 more payments left to a 2018 acura rdx, dealership is calling to upgrade to 2021rdx ....whats the best monthly payment i can negoiate in texas with no money down , 36 months, 12,000 miles , to techpackage with awd ...need advice !!!!!
What if someone stole and totaled the leased car would u be liable for it even with gap insurance?
Dustin most leases include GAP insurance and you won't be liable for that no..
Ari Janessian wrong! You are liable for the car! Insurance will pay!
AngeloR674 how are you liable if the car got stolen dickhead?
This may be a stupid for most, but this is my first car lease. I’ve always previously owned. My lease is up in two months. I’m not staying with the same manufacturer. Wherever I decide to go, won’t that dealer purchase my vehicle? Or, will they suggest I return it to the original dealer? I’m way under mileage. I’m hoping the new dealer will want to buy it which I assume/hope will get me a better deal on my new lease?
Great advice again ! Can always count on you, to give direct advice and strategy to gain a great deal !
Thank you Bob! :)
What about trying to get out of a lease a week to 10 days after getting it?
What can I do? The 4 cylinder model is painfully slow, it is not that fuel efficient, definitely not sporty. I used to have a BMW X3. What a difference.
Excellent video Ari very informative. After hearing your X5 payment I’m glad I got the Jeep. Lol PS : Nothing wrong with your hands :)
Thank you Ted!!!
My car lease is ending in one month and now the dealer is telling me there is a $400 payment at the end of the lease program. My signature is not on that part of the contract which I had no idea about this $400..What's this for ? I don't have any delay payments so the dealer is telling me it's just in the contract with no explanation. Need Help. What should I do ? thanks
Over 900! Jesus Christ. Your first problem is even thinking about paying that much. I’ve got a 2019 F-150 and I pay less then $400 for my lease 🤦🏻♂️
gosh thank god i saw this im running to carmax when it opens to appraise my acura TLX i wanna get out of my auto lease!
Any luck? I want to do the same ):
Works on everything except ford leases? I can’t get an early buyout of my ford lease
Hmm, I have 9 months left on the lease for my 2017 Jeep wrangler unlimited. Monthly payment is $294. I've been dying to get out of it because I need more space for a growing family. This might be my ticket.
I have 6 months left in my Acura lease and the buy out is $10k more than auction value. How can I get out of this lease without going into a new Acura?
I am 18 months left in my 36mo/36k/3yr lease from Subaru. I just want to trade in my current car to buy and finance another Subaru. Reason being, I have been driving more so than usual due to the pandemic. I am not over my mileage limit but am cutting to close.
What should I do? Buy another car for cash and drive that until my lease is up???
Same thing happened to me just did a lease in January after total my caddy ct4 deer crash insurance paid off lease but was car less right before my vacation after coming back decided to get a Toyota Camry hybrid was not happy with the payments was actually $7 more than what i was paying for my Cadillac they wanted $900 i told them not paying that got it down to $705 for a 33k Toyota 5 months later long story short i test drove a Tesla 3 and loved it and want it bad but Toyota buy out is 37k will be hard to break this lease without paying out of pocket Tesla is trading it but only giving me $25,800 is there anything you advice so i can get out of this lease please help.
Hey bro can you do a Honda Ridgeline :) if you don’t mind doing the sport. Because I think it’s most common one people buy.
Yes! You and another subscriber have both requested. I’ll try and get to it within the next few days.
Yay thanks man :) there is no videos on RUclips on how much you can lease a Ridgeline. Please try not to do a high trim. If you don’t mind doing the sport or a popular trim. Thanks again!
A tree fell on my 2021 x5 a week after driving... should I keep it?
I know this is a 5-year old video, but just saw it today in 2024. I have 6 payments left (lease up in October). I will keep my Hyundai Kona (2022 Limited FWD ICE, under 10,000 miles on it) until after the summer; inventory on the vehicles I'm interested in are low still and should pick up by summer. Of course, since I'm looking at another Hyundai or a Toyota, the models I would lease again are popular and have very low inventory.
I have a lease that will be 1 yr in at July. I want to get out of it and BUY something else that actually cost a little more than the current car I have on lease, also from the same manufacturer. Any tips would be great. Thanks in advance! 😷
Do you do truck buying in Los Angeles? Looking for a year end 2021 Dodge Ram limited 1500. I have four months before turn in my lease . Can lease or buy but I want that 23% off from list.
I’ve talked to four guys who all got around 20% list $66 paid $53 etc. looking for someone to buy car for me.
My old car broker is 80 and retired
I have a 18 remaining $190 monthly payments ($3500 ish), by $1k transfer fee I can keep it when I move, should I do that ? I believe going thru find a buyer and sell it to dealership might cost me more than $3k to get rid of it, it's a 2019 Mazda CX3, any though! buyout is $18700, I believe this is AFTER I made all the payments, Car worth around $28k if I'm not wrong.
No brotha you keep those hands up!! Thanks for all the info
I’m late on this video but had a question? Can you trade 2 leased cars with 2 years left of payments to lease only 1 car in exchange?
Wish you could help me get out of my 2016 Jeep Patriot! I hate this car so much. Respect from Illinois. ✊🏽
Ari, what is the best way to get out of a high interest loan where my car is worth less than what I owe? I owe about 5 grand over what it's worth, do I just continue to pay and rough it out until it evens out?
You can always get rid of leases by going to the dealer and getting a car from them. They will take over your car and whatever payments left. Assuming you have a good original lease and the car is still in good condition. I did that twice. Or you can put the car online for a lease transfer. ( I did it once). Now I am leasing an SRT charger and thinking about a hellcat in the future lol. Most people think leasing is a bad idea but it's not if you know the numbers !
I have a 19 scatpack but now I want that widebody I wanna get out this lease and upgrade
What if the Carmax value is more than the remaining lease payments? Thank you.
I need help. I am in the exact situation. Let’s say Carmax only gives me $14,000 and I owe $20,000. I would like Carmax to buy my car in order to get rid of it. But I don’t have the extra $6,000. So my question is, can Carmax loan me those $6,000 so I can pay them monthly and the get rid of my car?
I got into an accident just 4mo before my lease was up and the dealership valued my car at 3500 when I owed 13125. With poor credit, It was suggested to me to try carmax to trade it in. Tips??
Question, so the residual value is added to the ten day pay off quote?
Got a 2016 highlander Xle with 15220 miles lease up July I believe I have equity what ya think wife wants to downsize looking at rav 4 but want payments under $400 what ya think best option should I just wait and then buy it and sell or just negotiate trade
Take it to CarMax and have them appraise it.. See what value they give and maybe they can buy it?
Nice video, now I have a question.
My lease term is 36m currently at month 23. I want to change vehicle but this time i want to buy instead of lease what would happen with my lease if i decide to buy a new vehicle?
I had to do a camera check at my job and I’m the video I just kept moving my hands lol WAY more than I realize lol 😂
Never change! Haha
Any advice for those of us nearing end of lease and we're wayyyy over mileage limit? Like, 20,000 miles? As I see it, our only option is to buy the car at end of lease vs. $4000 penalty. Am I missing an option?
See if the dealership / Carmax will take the car in as a trade and what the difference would come out to that way...
@@negotiationguides thanks! I wish you were in central new York, I hate haggling with dealerships, and have health situation that makes going dealer to dealer hard. I've also heard you can negotiate buy out price? I can't imagine why they'd let me buy it for less than what's on the contract I signed 3 years ago.
Great video.
I have an existing lease with 10 payments. It’s at Toyota Rav 4. Payoff on my end shows 18,500.
Carmax is giving me 20,000.
But they said the dealer payoff is higher... the bank is Toyota financial itself.
Is that true. Today’s a holiday so I won’t find out til tomorrow. But I got a great deal on a Honda which I have to take today.
I was going to use that 1,500 towards the down for the Honda.
You think I should risk it hoping dealer payoff is same or wait?
Can you make a video on what options you have if you are over milage on a lease? Asking for a friend lol. If you haven't already.
Definitely will make a video about this again..
P Linton you trade it in! And let the dealer buy it out! Negotiating skills are a must! Plan a strategy!
You do you.....keep your hands up.
😀💪🏼
Hey Ari, I'm in a bit of a pickle myself with my Acura Lease. I'm leasing an Acura integra Type S and I unfortunately got into a car accident in May- Not my fault. The vehicle has since been repaired and I took it to 2 dealerships (Acura & Honda), and they were offering extremely low offers which would cost me a ton of cash to get out of the lease. The monthly payment I feel reflects a car that's valued much higher than what the dealers offered me. What do you recommend, or do you have any advice?
Let's make a video about it shall we?
So, did you end up upside down? What is your new car payment?
Yes but way less than just hopping out of the lease traditionally. Folded in ⅓ of the remaining payment amount.
@@negotiationguides kool beans
I have 4 months left on my Chevy Equinox and I'm 1,250 miles over. at this point I just wanna go back to chevy dealer give them lease fee and remainder 4 payments. Then go finance newer used 15,16,17Acura ... what you think?
Calculate how many miles over you’ll bring it back with, and divide it by the number of months left. If you’re over by 10,000 miles, it’ll be close to $2,000 roughly when you return. 5,000 miles = $1,000 roughly. If the sum of your remaining payments is less, turn it in now.
its gonna cost me upwards of $300 plus .25cent mile. goes back in June. Does credit score still take 1 month to fully update ? because seems like credit karma is weekly @@negotiationguides
I have another car so every time I drive the chevy its costing me lol
It’s that a voluntary repo?
The manufacturer knew the dealer couldn't help you.
The only way I've seen people sell their leases is because they put a ton of money down on the lease(which you should never do) which brought their buyout down so low that it offset the value of the car.
I have 8 payments on my 2021 Honda Civic sport in August it will be 7 payments remaining is it better to wait until next February to sell the car to car max? or should I take it to car max when I reach 6 payments left?
I have almost close to 23,000 miles on the car, also when u mention loyalty credits what does it entail? and can I use it towards it my next lease from Honda?
Over my mileage and 8 payments left whqt can I do I really don't want to keep the car
I admire you just the way you are.
The lease or finance becomes expensive when you take the car out of the dealership and you star to cool off and the car loses value.
you look like the butler from mr deeds
I don’t mind if you use your hands but I find the 200 hard cuts in a 7 minute video hard to watch. But all the info was really useful so thank you!
Chris... thank you :))) I actually addressed this a bit in my most recent vids. Trying to do less jump cuts.
Ari Janessian- awesome 👏
I’m a bit confused , I have a 2017 BMW and this is my last month . I have a cracked windshield and I’m over miles by 40k and I have a few small dents .. what do you suggest doing ?
You're best option is to buy the car at the end of the lease and keep it
Great channel Ari, I also love the blue dj2 on your wrist 😄
MY MAN! thank you :))
Tell the haters you have a little Italian in you, hence the hand talking. The haters can just listen to you if they don't want to see the hand talking.
Thank you for making this video!
Currently I have a 2018 Audi Q5 lease about 8 months into it and not really a car I like. Looks like payoff is $42k and KKB is saying around $38k.
I’m gonna definitely check out Carmax (Norwood) or Herb Chambers to see what I can get for it.
Carmax has really come in clutch for some of my clients Ken! Give it a shot
Why not just find someone to take over your lease? IMO it's the easiest way as I see a lot of leases being taken over every day on the websites like swaplease and others.
I responded to a comment just like this ... i didn’t mention in the video, but unfortunately it was up on LeaseTrader for a few months with a large incentive and no luck :(
Does the leasing bank do lease swaps?
So if I’m understanding this right-
Payoff - 25k
Residual payments - 17k
Auction price - 23k
I’m only on the hook for $2000?
👍🏼
payments less finance charge plus excess wear tear, * and tax ( less aution price) and fees, thats what you owe.
Nothing wrong with using your hands, it shows that you are human and passionate about what you like! Can’t please everybody, shit!
hi when is the best time of the year to lease a car ?:)
Christmas / New Year ... OR At the end of that vehicles model year.. for instance a 2019 when the 2020s come out..
@@negotiationguides aaahhh thanks Ari😊 just discovered you.. so end of model meaning when they come out in September?
@@negotiationguides my lease is do back May 26.. is it better to buy out the car or just get a new one?:)
Chanel Abro if you like your car buy it out or if you want something else than lease another one.
Sounds good a lopsided loan, the best way to give dealer free money , upside down loan negative equity.
Is Lexus GX better to lease or buy if my credit score is under 700?
The scene where Ricky Bobby kept lifting his hands kills me every time. Keep doing your thing man