End lease early or finish it out?
April 1, 2009 3:42 PM Subscribe
My car salesman is encouraging me to end my current lease early (by two months) and start my next one immediately. Pros and cons?
posted by JannaK to travel & transportation (6 answers total) 1 user marked this as a favorite
I'm currently 25 months into a 27 month lease on a 2007 Mazda 6. I've been to the dealership and decided that once this lease runs up (mid-June 2009), I will be leasing the 2010 Mazda 3. I put down a deposit on the new car a couple weeks ago.
My salesman called yesterday and said that my new car is in at the dealership and I could pick it up anytime. To me, it seems like I should finish up my current lease and just get my new car in mid-June. But, he was rattling on about the possibility of residuals decreasing and told me it would be better if I got the new car now and just started my new lease early while finishing up payments on my current lease.
I'm confused! I understand the idea of residuals, but don't have a ton of experience with car payments. What are the pros and cons of starting my new lease before my current one is up? Why would my salesman care?