Current lease with ES but wants LC
04-17-21, 05:01 PM
#16
Lexus Test Driver
Well, if you have Buyer's Remorse, you can trade in your car any time you want....I've heard, in extreme cases, of people doing it in as little as two weeks. Of course, you take a bath in depreciation if it is early in the vehicle's lifetime.....the heaviest depreciation is in the first year, and the first three years in general. So why should it be any different with a lease? 
Like with anything else - ppl can devote 1-2 hours online educating themselves how leasing works and avoid bad decisions.
04-17-21, 07:11 PM
#17
Lexus Fanatic
Well, if you have Buyer's Remorse, you can trade in your car any time you want....I've heard, in extreme cases, of people doing it in as little as two weeks. Of course, you take a bath in depreciation if it is early in the vehicle's lifetime.....the heaviest depreciation is in the first year, and the first three years in general. So why should it be any different with a lease?
04-17-21, 07:26 PM
#18
Lexus Fanatic
iTrader: (20)
04-17-21, 07:53 PM
#19
Lexus Fanatic
Yeah that’s a great scenario. When I traded out of the 14 Grand Cherokee 10 months in after the twins were born I got out of it clean, so it’s definitely possible.
I traded my 2010 ES in like 8 months early and I pocketed $1,500.
BUT, the penalties for my LS trade ins were...ahem...not as small lol
I traded my 2010 ES in like 8 months early and I pocketed $1,500.
BUT, the penalties for my LS trade ins were...ahem...not as small lol
04-18-21, 06:03 AM
#21
Lead Lap
Not sure how your state taxes work out but if it is like mine you only pay tax on the difference of the trade in value and the price of the new car. So in MD you would be breaking even because the tax savings would be about $2,000 and it would be like selling the car for $36k.
04-18-21, 06:44 AM
#22
Lexus Fanatic
04-18-21, 10:06 AM
#23
drives cars
Wow, really impressed at the trade-in value they are offering. You could do far worse as far as being upside down into the loan goes. Right car, right time? If so it could be worth doing.
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