: Get out of current lease early and into new lease?



itwonder
03-16-07, 04:33 PM
Our lease has 1 year to go, and we're well under the mileage cap. I'd like to turn this car in and move into a lease on another Cadillac now, and not wait another year.

Any way to negotiate this without losing one's shirt? If you've done it, tell me what kind of terms you got.

donjumpsuit
03-16-07, 04:58 PM
I would like to have a long discussion about this topic in the forum. As I am interested in this process as well.

I heard of a "step-forward" program with GM. I believe it is only a 6 month step forward program, and unsure if it costs money to do it. I also think it is only if you are stepping into another lease through GM, and not just walking away.

c5 rv
03-16-07, 09:13 PM
The way I understand it, GM & GMAC will at times offer early termination (lease pull-ahead) for 3-6 months. Dealers will advertise 9-12 months of pull-ahead, but the monthly payments for the additional months beyond what GMAC offers get rolled into the next lease as an additional cost. One dealer told me (i.e. I can't confirm this) that GMAC does not pro-rate the miles for the GMAC-offered portion of the pull-ahead. So, if you're already near your max miles, you could turn the car in 3-6 mos early with no mileage penalty.

nick1bum
03-17-07, 01:40 PM
One thing to keep in mind when leasing is the cost of replacing tires, brakes, and batteries, etc. On my most recent lease, 07 XRS a week or so ago, I got a price on a 39 month lease at $510.00 and a 24 month lease at $539.00. Eveything else was equal, nothing down except first payment and $225.00 crap fees, same mileage per year, exact vehicle.

The difference of $29.00 per month I feel is well worth not having to replace the above mentioned items which on these cars are quite expensive. I also get a new ride in two years. I did however lease my 07 EXT for 39 months knowing that I will put on only about 20,000 miles in that time. Just my two cents.

The Bum