Sunday, January 29, 2012
Can I use a leased car (hummer h3) to upgrade to a higher model? If so, does it matter how many miles I have?
I was told by the salesperson that in the GM step-up program, If I get another Hummer, It won't matter how many miles I have on the leased car. Is that true?Can I use a leased car (hummer h3) to upgrade to a higher model? If so, does it matter how many miles I have?Yes thats true! I did that also...I had a leased Chevy Trailblazer, and I wanted to get a new Pontiac GTO. A leased vehicle has a payoff (buyout) just like it would if you financed it through a bank. They just call your lease company (GMAC, I would guess) get they buyout, then give you a trade value just like if you owned it. Then when you trade it in, the dealer takes possession of it and can resell it. Miles do not matter then at that point, because the lease is being bought out early, and is not going back to the manufacturer. Thats what my dealer did with my Trailblazer. They got the buyout, gave me a trade price, and I traded it in to them and got the new GTO I wanted. It worked great! Most people don't know you can do this, but I did because I used to sell cars....go ahead and do it, plus its a great way to get out of your lease if your miles are too high without having to pay a lot of mileage charges.
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