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Auto Lease Pull Ahead Programs

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Valued Contributor

Auto Lease Pull Ahead Programs

Who has an auto lease that has taken advantage of a lease pull ahead program?

 

I still have 13 months to go on my current VW lease.

 

Last time they offered a 3 month early return (and they would cover the 3 remaining payments) if I leased/bought a new vehicle (aka lease pull ahead program).

 

I've seen some peeps on the interwebs who have done 4 and 5 months, given current economy.

 

Wondering if anyone has done more. Maybe 6, 9, or even 12?

 

Message 1 of 18
17 REPLIES 17
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Regular Contributor

Re: Auto Lease Pull Ahead Programs

Most of the time when a dealership says they'll cover those remaining payments they really just roll them into your new lease/loan. You can trade-in a lease just like you would a regular vehicle. Call and get the payoff quote and then see what KBB says your vehicle is worth. I've traded in multiple leased vehicles with 10+ months left on them. I actually just traded in a vehicle that had 19 months left on the lease. The dealership buys it from the bank for whatever the payoff amount is and the difference is applied to your new vehicle.

Message 2 of 18
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Senior Contributor

Re: Auto Lease Pull Ahead Programs

Is it even worth leasing then for such short period of time, wouldn't it be better to just do a traditonal 60 mo term? I would think at least on a regular contract you'd have built up equity, where on a Lease you're just paying to use a car for said duration. Like renting with no equity building. 

 

That aside, I thought dealers were being real hesitant about accepting lease returns right now due to unsold inventory?

 

As for OP, you should be able to call their Finance dept. and ask what options are available.






Message 3 of 18
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Established Member

Re: Auto Lease Pull Ahead Programs


@Janus wrote:

Is it even worth leasing then for such short period of time, wouldn't it be better to just do a traditonal 60 mo term? I would think at least on a regular contract you'd have built up equity, where on a Lease you're just paying to use a car for said duration. Like renting with no equity building. 

 

That aside, I thought dealers were being real hesitant about accepting lease returns right now due to unsold inventory?

 

As for OP, you should be able to call their Finance dept. and ask what options are available.


That is the whole point of leasing.  Short term so you always have a new car under warrany.  Leasing does not work for me but if I did I would not do more than 24-36 months.  

Message 4 of 18
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Regular Contributor

Re: Auto Lease Pull Ahead Programs


@Janus wrote:

Is it even worth leasing then for such short period of time, wouldn't it be better to just do a traditonal 60 mo term? I would think at least on a regular contract you'd have built up equity, where on a Lease you're just paying to use a car for said duration. Like renting with no equity building. 

 

That aside, I thought dealers were being real hesitant about accepting lease returns right now due to unsold inventory?

 

As for OP, you should be able to call their Finance dept. and ask what options are available.


I don't think you understand how leasing works. Your lease payments absolutely do go towards building equity in the vehicle. The only difference is that after the lease period is over you have the option to walk away without worrying about a thing.

 

Let's say you lease a vehicle that's $20,000. Most leases are 36 months. The residual value of the vehicle after 36 months is forecast to be $10,000 (50% RV). So for 36 months you're making payments on the $10,000 difference. Each payment you make goes towards reducing that $10,000 amount. You of course also pay a little interest on those payments but it's usually under 2% (better than a purchase most times!). After 3 years you can buy that vehicle for $10,000 which is the predetermined residual value. You can also at any point get a payoff amount (the residual value + remaining payments) and buy the car, trade it into a dealership etc.

 

Most people don't like leases because they don't understand leasing.

Message 5 of 18
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Valued Contributor

Re: Auto Lease Pull Ahead Programs

Thanks everyone for your feedback. Volkswagen Credit will pay off remaining lease payments through their lease pull ahead program. They don't roll them into a new lease or purchase, they pay them off directly. It's encouragement to lease or buy from them again.

 

Their program is set for 3 months pull ahead with remaining payments waived. I was hoping people had experience with >3 months waived. Someone here recently had 5 or 6 months waived. 

I've enjoyed leasing but think I'd rather buy now instead. I'll reach out directly to VW Credit. 

Message 6 of 18
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Regular Contributor

Re: Auto Lease Pull Ahead Programs


@lhcole77 wrote:

Thanks everyone for your feedback. Volkswagen Credit will pay off remaining lease payments through their lease pull ahead program. They don't roll them into a new lease or purchase, they pay them off directly. It's encouragement to lease or buy from them again.

 

Their program is set for 3 months pull ahead with remaining payments waived. I was hoping people had experience with >3 months waived. Someone here recently had 5 or 6 months waived. 

I've enjoyed leasing but think I'd rather buy now instead. I'll reach out directly to VW Credit. 


Your original post said you had 13 months left. The VW credit pull ahead is 3 months. What are they doing with the remaining 10 payments?

Message 7 of 18
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Valued Contributor

Re: Auto Lease Pull Ahead Programs


@nycsimone wrote:

@lhcole77 wrote:

Thanks everyone for your feedback. Volkswagen Credit will pay off remaining lease payments through their lease pull ahead program. They don't roll them into a new lease or purchase, they pay them off directly. It's encouragement to lease or buy from them again.

 

Their program is set for 3 months pull ahead with remaining payments waived. I was hoping people had experience with >3 months waived. Someone here recently had 5 or 6 months waived. 

I've enjoyed leasing but think I'd rather buy now instead. I'll reach out directly to VW Credit. 


Your original post said you had 13 months left. The VW credit pull ahead is 3 months. What are they doing with the remaining 10 payments?


Standard is 3. Given COVID, I've read a couple posts online that were 5 and 6, and dealership covered all remaining payments. So I was wondering if anyone on here has gotten more - like maybe 9 or 12. If I could turn mine in early with all remaining payments covered, I would buy a new model right now. Prices are too good not to. 

Message 8 of 18
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Regular Contributor

Re: Auto Lease Pull Ahead Programs


@lhcole77 wrote:

@nycsimone wrote:

@lhcole77 wrote:

Thanks everyone for your feedback. Volkswagen Credit will pay off remaining lease payments through their lease pull ahead program. They don't roll them into a new lease or purchase, they pay them off directly. It's encouragement to lease or buy from them again.

 

Their program is set for 3 months pull ahead with remaining payments waived. I was hoping people had experience with >3 months waived. Someone here recently had 5 or 6 months waived. 

I've enjoyed leasing but think I'd rather buy now instead. I'll reach out directly to VW Credit. 


Your original post said you had 13 months left. The VW credit pull ahead is 3 months. What are they doing with the remaining 10 payments?


Standard is 3. Given COVID, I've read a couple posts online that were 5 and 6, and dealership covered all remaining payments. So I was wondering if anyone on here has gotten more - like maybe 9 or 12. If I could turn mine in early with all remaining payments covered, I would buy a new model right now. Prices are too good not to. 


The VW credit pull ahead program is 3 months. Any other months the dealership is saying they're covering...are just being rolled over into your new car.

 

Basically how it works is they get a a dealer buy out from your current leasing company and then subtract the value of your vehicle and the difference is what is rolled over into your new vehicle (or credit if its worth more than the payoff...but it's somewhat rare).

Message 9 of 18
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Valued Contributor

Re: Auto Lease Pull Ahead Programs


@nycsimone wrote:


The VW credit pull ahead program is 3 months. Any other months the dealership is saying they're covering...are just being rolled over into your new car.

 

Basically how it works is they get a a dealer buy out from your current leasing company and then subtract the value of your vehicle and the difference is what is rolled over into your new vehicle (or credit if its worth more than the payoff...but it's somewhat rare).


Are you speaking from experience?

 

I have read two posts online where customers took their leases in 5 and 6 months ahead of schedule and ALL payments were paid out, NONE were rolled into the subsequent lease and purchase.

 

I guess I was wanting to see if anyone on here has ever had experience with a pull ahead that was more than 6 months and that no payments rolled into future lease/purchase.

Message 10 of 18
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