Lease Buyout / Trade-in

[Drew683]

If I choose to keep the lease and not buy it out, when I want to trade the car in do I have to buy the lease out At that point in order to then trade it in? Or can I trade it in for a new vehicle and the dealership cut a check to buyout the lease on my behalf?

 

[stasek]

When you trade it in, you're basically selling the car to the dealership and the dealership pays off KMF. If you have positive equity, you'll get some $$$ back.