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Can I trade in a newly leased vehicle? Is it worth it?

1K views 5 replies 5 participants last post by  algiorda 
#1 ·
Hi all!

I am a proud owner of a 2013 SRX. Leased it back in November, have only 2,500 miles on it, and made only 5 payments thus far (on a 36 month lease).

Up until last week, I was good to go with the lease as I only worked 7 miles from my home. For years that I have been leasing Cadillacs, I only put under 20,000 miles on them when I turn them in.

Now, my job is moving 45 miles away. There is no way I can put 24,000 miles a year on a leased vehicle that only allows 12,000 per year.

I have two options...

1. I can keep the Cadillac with its high lease payments and get a second crappy car (like a Chevy Cobalt or Ford Fusion) either new or used. Of course, it will mean an additional car and insurance payment.

2. I trade it in.

Now regarding #2....

I don't even know if that is an option being the fact the car has a brand new lease.

Would a non-Cadillac dealer even consider taking on the lease knowing that he/she could sell that car for far more?

Excuse my ignorance in this matter. I just don't know how these things work.

As always, your opinion on what is best to do here is appreciated.
 
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#2 ·
I would go back to the dealership you leased it from and have a meeting with GM, and see what you could work out. It never hurts to be right up front with the people. Did you have a trade in? If not you are in a better position....I know the payments on the lease have to be fairly high. The
12k miles per year seems to be alittle light. Hope all works out. Good Luck!!!!
 
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