Lease return. What you need to know!

There are important things to know before you turn in your lease. Thanks for watching

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[katiesanchez]

Coming back 6 months later to say you’re advice had been very helpful. Ended up NOT going to the dealer. Spoke with GM financial directly and made it a smooth process to buy out my lease with credit union (awesome low rate). Thanks for your help!!

[janinafarr]

I’m so glad I watched this before heading to the dealership. Thank you Lease Guy 😊🙏🏾.

[dualvox]

I called Mazda and they checked if I could buy the vehicle at lease end directly from them in the state that I live in, and they told me I can. They will email me the docs to purchase the vehicle for me to fill out, print and return the docs with a wet signature to them and the payment check. When I called the dealer, they told me that I had to go through the dealer if I am keeping the vehicle and that they would handle all the paperwork, title etc. When I asked if I could do it directly with Mazda, the dealer told me I couldn't, which isn't true, so thanks for this video, it was very helpful in keeping away from the dealer shark.

[SurbhiGupta]

Adam, Im been watching soo soo many YT videos on turning in the my leased BMW! and I swear to god this has been a the single most helpful and easily understandable video! Many thanks!!!

[J-Rod]

Great video! I just did a lease buyout for my 2018 Lexus RX 350. I went to my credit union, got the lowest interest rate, and dropped $400 a month on my monthly payments!! I have approximately $6k in equity right now 👍

[lynhhong]

Can you just go with me to the dealership?

[foryounger]

I’m glad you made this video. I researched this on my own back in 2023 as I hate dealerships. I didn’t want to deal with them at all at the end of my lease and the market was so bad so I just dealt directly with gm financial and bought out my lease directly through gm financial.

[NezzysPlace]

Thank you so much. This information helped me so much. I love how you emphasized, the equity power play....if it's not right walk away!!! Thank you!!!

[lindaportney]

Hi Adam, I love your videos. It’s so informative. My question is how do I figure out how much equity is on my car. I have a 2020 Honda Accord Sport. It has 5, 000 miles and is in perfect condition. My lease is up in October, and I want to be prepared with as much knowledge as possible.

[jtjt]

I had a 21 Lexus GX lease that was two years and five months I wanted to downsize and went to a Toyota dealership leased a 23 Highlander platinum and the dealership paid off what I owed and gave me $1000 because I had equity in the car. Had I gone to the Lexus dealership they would’ve charge me a lease and fee, the Toyota dealer said, although you have a three-year lease, we will reach out to you in two years because you’ll have more equity in the car to put down on a new car. FYI.

[beccajade]

I love that it makes you feel good to help people. So I have a kind of unique situation I’m hoping you could tell me what you would do.
I have a leased Mazda that is up in March. 3 year. Almost over the mileage. Love the car other than that it’s not big enough for what I need. I am a regularly gigging musician and I have 3 children. Need something honestly that’s huge. Mazda has nothing to offer me as far as trade in. I’m going to do all the stuff you suggested as far as learning the actual value and contacting the lease people not the dealership. Already made the mistake of going over there and they offered me $300 to walk away. That’s after putting $5k down on the lease and making payments for 2 1/2 years. I would love a new bigger vehicle sooner than later because I need one like yesterday but I’ll milk this out if it’s going to financially benefit me to do so. Any advice is appreciated!

[johnmcguire]

Hi Adam. Great informative video. My wife leased a Kia Niro EV in Aug 2023. 11 months ago. She put $20, 000 down to pay down the monthly lease price. She was involved in an accident and her Insurance company (Allstate), Totaled the car and don't want to pay the full cost of the write off. There is about a $2500 gap but I believe here in NY state the lease
company has to have gap insurance to cover that difference.
Also the Kia dealer is telling us that we don't get any money back from the large down payment. My contention is that the large down payment was to keep the lease payments low including going forward through the whole lease term (36 mo.). Since the lease is over, Kia has no right to keep the money that would have subsidized all future lease payments. They are only entitled to keep 11/36th of that money since the rest of the down payment was for future lease payments, 25/36th.
Is my theory correct? Please respond if you can.

[payotimeRamsYT]

Thank you for this! I am new to the idea of leasing. I have a test drive on a Nissan rouge booked for tomorrow. They offered me 2 years at .99 which seems better than any deal out there.

[aegolan]

Unfortunately State of Florida mandates that only dealers can take back leased cars

[DanceDanceCass]

Thank you for sharing your knowledge!! It helped me to line up all my questions for the leasing company.

[patrickalexis]

This is a great video. Thank you for sharing this info.

[mwachner]

Thanks for the info! Suggestion: Put links to all the videos your refer to in the above video in the description. :-) (will also help drive extra views on your other videos too...)

[poptopwaterbottles]

Awesome video thank you!! You also answered my questions from a previous video and I can certainly say I know what I need to do to accomplish my goal

[madeinmontana]

Good videos. I will probably be keeping my Toyota Tacoma now rather than turning it in. There are tacomas on my dealership lot that are 3 or 4 years older than my truck with over 60k and they are asking more than the full sticker price mine was brand new. Got into my lease at the right time I guess.

[nikisawyers]

My issue is that I put scratches on the sides of my car with the snow scraper… And the window shield is cracked. Everything else is great. I’m worried that I’m gonna get charged up and I’m supposed to return it in a couple of weeks. It’s a RAV4 2021 hybrid.