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You’re coming close to the end of your lease, but you’d rather deal with a dealership other than the one you originated the lease with. Can you trade in a leased vehicle to another dealership for a new car? Can you trade in a leased vehicle for another brand? More than one Norfolk drivers have asked the same questions. Fortunately, we have the answers. So, if you’ve found yourself asking, “Can I trade in my leased vehicle to another dealer?”, keep reading.
So, can you trade in a leased vehicle to another dealership? Yes, it’s done all the time in Virginia Beach. How is that possible? Because, in most cases, the lease is held by a bank instead of a specific dealership. That means another dealership can buy the car from the leasing bank.
Check your lease contract for the buyout price, then compare it with your car’s trade in value. Can you trade in a leased vehicle to another dealership if your buyout price is higher than the trade in value? Some dealerships will roll the excess of the buyout price on to the lease for the new vehicle. So, sit down with our finance managers and find out what your options are.
Maybe your experience with other brands have you convinced that switching to a new Chevy vehicle is the way to go. Can you trade in a leased vehicle for another brand? Yes! As we said, in most cases it’s the leasing bank that owns the vehicle. In that case, any other party can buy the vehicle from the bank, regardless of whether it’s a dealership affiliated with another brand. In fact, some dealerships offer discounts for drivers trading in a leased car for another brand.
Our finance department would be happy to walk you through all of your options if you would like to end your lease. So, come in and talk with us. And, if you’d like to learn more, check out our post on leasing with bad credit and our comparison of leasing vs. buying. We’re conveniently located near both Chesapeake and Suffolk. So, stop by or give us a call to get started today!
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