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What type of quad should I look for, and what do I want?
If you lease another vehicle, the dealer will establish a value of your trade in vehicle and if the value is lower than what you owe on the vehicle due to high mileage or condition, lease residual, etc., he will add that amount onto the new lease cost.Better to lease a new car or buy a good used one?
This a hypathetical example: The normal Blue Book value of your car might be $10,000.00. But because of higher than normal miles there is a knock of say -$2,800.00 off the value of the vehicle and the dealer feels it is only worth $7,200.00. If you still owe $9,000.00 on the vehicle he will take the car in trade and pay off your loan amount of $9,000.00 and add the difference of $1,800.00 to the price of the new lease car. He recovers the upside down amount of your car and you pay him back for it in the new lease.
Remember that you will most likely be paying interest on the new lease and also the added amount of the upside down vehicle for the duration of the lease. If you have extra cash you can pay him directly for the shortage which will be due at signing. Check if they offer rebates on a vehicle to see if you can use these to cover the shortage too.
Ask lots of questions and do your home work before you sign another lease. If the new lease is limited to 12,000 miles per year and you drive more than that, then ask for a rate to cover the miles you actually drive in a year. Miles are usually cheaper if you report them up front instead of paying for them at the end of the lease.
Depends on your credit rating and how much you of your money you are willing to part with. The amount you owe on your present vehicle will be added to your lease payments.
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