So, I was able to negotiate the early return of my current 2008 G37 (10 months left) for a new 2011 G37.

The dealer is telling me that the only document they will give me is the "grounding report" once my vehicle is returned. Isn't this the process that a lease at the end of its term would go through versus an early trade in? I would have thought my lease document/worksheet should indicate that the dealer agrees to just buy out my vehicle based on the payout shown by IFS. There shouldn't be a need for a grounding report because the car has to be paid out, otherwise, I will be responsible for the remaining payments -- right?

Anyone actually do an early trade in like this? What document did you get that proves you do not have to pay anything to return the old leased vehicle? Should I be worried?

 

I'd be worried, yes. They tried this with me SEVERAL times in the last year of my lease - they don't buy out your lease...they roll the remaining payments into the new one. You would also be on the hook for any lease-end charges.

Make sure you get clarification - in writing - before you commit to anything.

 

Thanks for the reply. I was getting totally paranoid (and it sounds, from your post, like I had reason to panic) so I emailed the Sales Manager and she replied very clearly that they planned to ground the vehicle and buy it out immediately. So, while I still don't have any paperwork, I am holding that email as evidence

From what I was told, the vehicle has to be "grounded" and a grounding report completed in order for anything to be done to the car. It's at that point that the dealership that holds the lease (and I already filled out the form to transfer my lease to this dealership) can then buy it out. Not sure if there are programs for the dealerships to save $$, but my car was in amazing shape and only 44,000kms. I still think they'll make money on it.

I'll update when the deal is done and final just so anyone else encountering this situation has this info.

 

have it in writing about what they're doing to your 2008 .... i always write a letter having the dealership and the lessee sign.... whether we buy it or just send in the payments.

 

Good to hear - they must need inventory, and since, as you say, your car is in great shape with low kilometres, they must be sure they'll make money off it.

Keep us updated!