Can I lease a car that I'm financing?
So September 7th I financed a 2015 Honda Civic because my Nissan was costing to much to get fixed so I decided to just get s brand new vehicle. I went in with the intentions on leasing but after everything was set and done they told me I was financing and I'm like financing? But anyway I like the car but I don't want to keep it. I really want another car. A 2016 maxima or something more flashy. I mean if I'm going to be paying a 400$ dollar car note I want it to be something flashy and the Honda just isn't flashy at all. So I'm wondering if there's anyway I can lease the car? So after my 2-3 years I can give it away. Right now I'm on a 5 year plan. But everyone I've asked is saying how my credit would be affected. My credit right now is about 714 so it's not all that great but still it's pretty high for a 22 year old. Anyway I would love to hear what you guys think.
No. Some dealers have the ability to do a used car lease (Toyota, for instance, on a Certified Pre-owned), but that's on something they have in stock, and they actually certified. You can't just lease any used car. In addition, you are locked into a 60 month contract on a purchase. The only way out of that contract is to sell the car, or trade it in and pay it off. A lender will not consider a lease on a refinance. Last but not least, at 22, you have neither the credit nor the credit history to lease. Sorry, but it's just not happening.
Your a financial fool if you want to dump a perfectly good 1 year old car for more debt.
Be smart, Trade your flash for cash. Keep the Civic
You aren't leasing a car that you are financing and you aren't trading it for another car anytime soon.
You have no choice except to keep it and pay on it for several years.
Nope. You now have a loan you have to pay off. You probably couldn't qualify for a lease, which is why they didn't offer it to you in the first place.
You are, like, financing. You should sell the car and pay any difference owed to clear the lien. Never finance cars.
It is not possible to convert a loan to a lease. And your inability to make a decision you can live with is going to be extremely expensive to fix. Your car is worth a lot less than when it was new, yet your loan balance hasn't decreased as quickly. So, it's almost certain that you are upside down on your loan, which means you are not in a position to sell or trade. However, to be sure, find the trade value of your car on KBB.com and then compare that to your current loan balance.
- Will a car dealership work with me if I'm gonna lease a new car, while trading in the car I have, which has an outstanding loan against it? The car I have now has a loan against it which is worth more than the trade in value of the car by about $5000. If me and a family member were BOTH looking to lease a new car (so 2 new cars), does anyone know if a dealership will be working to work with me in any way? Also the cars looking to be leased are not high end or luxury cars, they d be coming from a dealership like Honda, Toyota, or Subaru.
- Can i turn my car into a lease? I bought my car in 2013, and am still paying on it. Is it possible for me to turn it in to a lease instead of buying it. Also I bought it new through Honda, it is a fully loaded 2013 Honda pilot
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- When can I trade in my car that I'm financing? I'm financing a 2012 Honda Civic with 30k miles on it for 6 years. I'm almost 20. The car was worth almost 13k but with interest of having new credit I'm paying 18k (240 a month). Am I able to trade in the car in like 3-4 years? What are my options for that. Please explain