how does swapping out of a lease work?

bboyce536 · July 8, 2015

I just leased my 2nd Silverado but realizing I shouldn't have leased this much truck, I'd rather have a beater then my LTZ as I work construction. Anyway I know there are sites out there to "sell" your lease to someone else, but have anyone else done it? Just want more info about it, not money advice. Thanks.

brians09 · July 8, 2015

What's your payoff amount? You can get it if you call GM. If your payoff amount is the same or lower than your trade in blue book, (*which only would happen if you put a good down payment) then you could trade in the car for a beater and not owe anything.. You can usually trade in a lease whenever you want to without penalty, I did with my old car. I guess this is more selling it back to a dealer..

bboyce536 · July 8, 2015

I would not trade it in. I guess what it's called is swap lease or something. I got a real good deal on my truck and put money down and could pass it onto someone else who could appreciate it more.

SILVER SLED · July 8, 2015

What are your lease payments. Just curious. You can call or pm me.

Doobs41378 · July 8, 2015

Just make sure you are not still on the hook if they do not make payments....

arkenzo · July 8, 2015

I would not trade it in. I guess what it's called is swap lease or something. I got a real good deal on my truck and put money down and could pass it onto someone else who could appreciate it more.

just keep it...there is no easy way out of a lease.

Imcrazy · July 8, 2015

swap a lease is probably your only option but, read your lease to make sure you do it right. You'll never sell it outright, leases are good deals as a lease never really as a buy.