Question:
I have a Ford Focus who's lease is up in August. I am found a dodge dealer to pay me the remaining payments along with a new car. (I was going to be over my miles) So how much of a penalty will I be looking at if I walk in owing 5 more payments and willing to give them every dime of what I owe.
Answers:
You're not going to pay any penalty NOW.
I am buying a car this week or next.G35 coupe, Acura TL, or TSX?
The penalty will come in on the day that you decide to trade-in the Dodge at a future date.
What type of car would you buy?
If they pay off your lease and finance that amount ON TOP of the Dodge car you are automatically and instantly going into a car-loan that is considered "upside down" because you will be financing the car for more than it's worth.
I was in the car when my dad died. should i still want to drive or what?
To that, add the normal depreciation of ANY new vehicle. The gap will be widened.
Here is the scenario in your future:
Would you ever buy a car that is painted brown, pink, lime green, or orange?
You walk into a dealership 5 years from now with the intentions of trading in your Dodge for which you owe $21,000 on your loan. They're going to say to you:
When is the best time to refinance a 2003 Trailblazer?
"Your car is worth $17000" and you're going to say "But But But... I owe $21000 to the bank!"
LOL...
What's a 1976 Chevy Caprice with minor body damage worth?
Get the picture!?
What would be better? LEasing or purchasing?
And now, because you have already shown that you do this kind of thing, you're going to do it again and get even deeper into the hole!
Cheap, Light, less than 1100cc?
End advise: Avoid all of the above!! Pay off the lease and start on a clean slate!
What's a better quality car, a honda or a mercedes?
.
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