Lease to get out of negitive equity?

Asked by Jake3055 May 21, 2018 at 05:30 PM about the 2010 GMC Yukon XL Denali 4WD

Question type: Shopping & Pricing

I have a 2010 Yukon Denali XL.  Dealer has offered $17K for trade in allowance.  I owe $23K.  I've got 102K miles on it now and it has started to randomly smoke just a little when it's started.  I am considering trading in to lease a 2018 Durango RT to get out of the negative equity.  Is this a good plan?  I have 4 years remaining on my loan.   Thanks for any input you can provide.

1 Answer

Jake3055 answered 5 years ago

Yes and no. They are going to roll the negative equity into the lease. The lease is $0 down 36 month 15K miles/yr. My payment will go up obviously, from $600 to $750. So, for $150 more a month, I get a brand new vehicle and in 3 years owe nothing. It seems like a no brainer....but looking for an outside opinion. Thanks

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