Question About Leasing and Negative Equity

[psal1051]

Good evening all!

I don't think I'll get a full night's sleep until I get an EX35!

I saw an old topic where Repo Man talked about leasing to eliminate negative equity. (I believe the topic was started in 2006....)

I have about $5k in negative equity that I'd like to get rid of. I would also be buying extra miles as I typically drive about 15k per year.

My credit is decent. I don't know that I'd qualify for tier 0, but probably tier 1. (But maybe I would - I qualified for 0% financing on my current car last year.)

I realize the credit world is totally different now than it was back when the thread from 2006 was started. But I'm wondering if anyone has any idea if this 'strategy' is still possible.

Thanks everyone in advance for your opinions!

[Timmbo]

Good evening all!

I don't think I'll get a full night's sleep until I get an EX35!

I saw an old topic where Repo Man talked about leasing to eliminate negative equity. (I believe the topic was started in 2006....)

I have about $5k in negative equity that I'd like to get rid of. I would also be buying extra miles as I typically drive about 15k per year.

My credit is decent. I don't know that I'd qualify for tier 0, but probably tier 1. (But maybe I would - I qualified for 0% financing on my current car last year.)

I realize the credit world is totally different now than it was back when the thread from 2006 was started. But I'm wondering if anyone has any idea if this 'strategy' is still possible.

Thanks everyone in advance for your opinions!

$5000 is quite a bit of money to roll into a lease. It will certainly raise your payment quite a bit. You really have to get a great deal to even be allowed to roll that much into the lease. Certainly a good question for the dealer.

[psal1051]

Thanks for the reply!

I'll definitely bring it up at the dealership.