Quote:
Originally Posted by khaye1
Common misconception about a lease...2 options, buy it out or turn it in. Not so, you actually have a lot more option than that.
1. Turn it in, walk away
2. Turn it in, get into another car
3. TRADE it in...doesn't necessarily mean for another BMW
4. Sell it privately
5. Buy it out
#3 is the one I'm referring to. If you trade it in, it will be like trading in any other car. You wouldn't get charge for any damages on the car, you'll take a hit on the value but you can always negotiate your trade in value.
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How can you trade in a car you don't own and have the obligation to give back to the dealership? How are you able to go to a different car dealership (say Ford) and trade it in towards a new car?