So I have a few specific questions on leasing. Please do not say "stupid, don't do it, etc.." I know what a lease entails and in this situation, it is probably the best route.
However, I do have some questions. I'm looking at trading my 2009 Silverado in towards the lease. Based on the trade-in figure they gave me, I'll have about 5k in equity.
My question is, how does that equity affect my monthly payment?
As they showed me, they deduct my equity from the price of the new vehicle. But that doesn't seem to benefit me in anyway since I'm not buying the new vehicle.
Am I thinking about this in the wrong way? Shouldn't a lease be the same price regardless of my equity? Could I request a check for my equity remainder?
However, I do have some questions. I'm looking at trading my 2009 Silverado in towards the lease. Based on the trade-in figure they gave me, I'll have about 5k in equity.
My question is, how does that equity affect my monthly payment?
As they showed me, they deduct my equity from the price of the new vehicle. But that doesn't seem to benefit me in anyway since I'm not buying the new vehicle.
Am I thinking about this in the wrong way? Shouldn't a lease be the same price regardless of my equity? Could I request a check for my equity remainder?