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Originally Posted by nychot
are you just referring to gmac leases, or any car lease? as far as i know you can be penalized up the wazoo for ending a lease early. and its my understanding that companies like infinity financial services, from whom i have a leased car, won't permit such trades.
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The bank who takes on the lease owns it...in most cases they'd rather you pay for the whole thing right then -- then they don't ever have to worry about selling it later or you making the rest of your payments. Like i said, you may be upside-down in your equity (most likely) so its not really penalties, its just the value that comes out-of-pocket..
I've also never heard of a restructuring a lease from one car to another...the only time you get that is when there is a special 'pull-ahead' program where GMAC or whoever may entice you for paying some of your final payments in order to get you into a new lease..