I am not familiar with the process of getting out of a lease early. So my current car lease is $600/mo and I have paid 16 mo of it, so 20 more months remaining, which I still owe $12000 to the dealer.
Carvarna offers $50000 - 12000 (lease payoff amount) = $38000 would be the payment to me.
Kelly Blue Book Instant Cash offer is $49500 because it didn’t ask me if my car was own or lease.
Let’s say the residual value of the leased car is $32000, plus $12000 I still owe, I would have to pay the current dealer $47000 to buyout. I could accept Kelly’s offer, take the $49500, they get the car. I pay back the current dealer and make $2500.
But I don’t understand why Carvarna deducts the $12000, that they would take over the lease? All i need to do is to take their $38000 net offer, pay the current dealer the residual value of the car, and make $6000? i am so confused. Any idea?