Yes, you can trade in a leased car to another dealer. The process is quite similar to trading in a vehicle you purchased. The dealer you are trading your vehicle into would assess your vehicle, looking at its mileage, wear and tear, etc. Based on their assessment and current market values, they will give you a final value of the trade-in, crunching the numbers against the cost of the vehicle you intend to purchase or lease.

If you are interested in a trade in, it is recommended to begin the process by using online resources like our convenient Black Book tool to first determine a base value. After doing so, you can either contact the online department of the dealership(s) of the vehicle you desire or go visit them in person. Explain to whomever you speak to that you are looking to trade in your vehicle. At that time, the dealership will assess your vehicle, determining its value based on a number of factors: market value, year, make/model, mileage, wear and tear, damage, etc. Afterwards, they will give you a final value. If you agree to that value, then the process of purchasing or leasing your next vehicle will take place. Keep in mind, if the value of your trade-in is less than its payoff value, you will be “upside down,” meaning you will have to pay extra to get out of that vehicle. Conversely, if your vehicle’s trade-in value is higher than its payoff, you will be in the positive and can use that extra amount towards a down payment.

To determine the value of your trade-in, you can use the same convenient Black Book tool many dealers across the country use.