Chrysler

Trade car on lease?

I just got my license & my parents are currently leasing a chrysler pacifica. they wanted to trade it in for a smaller car like a jeep for me to drive. is it possible to trade a car a year before the lease is up?
Answer
Sure it is. just like you can trade a car with a regular retail installment contract early, you can trade out of a lease early. the dealer can contact the leasing company and request a lease buyout figure (same thing as a loan payoff amount). most likely the pacifica will not be worth as much as is owed, but it should not be insurmountable. nice luck!

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