What should I know about trading in an upside down lease?

Answer by  tamarawilhite (17883)

You owe any difference between what you owe and what they get for the car in sale. If you owe 10K and it sells for for 8K, you owe 2K.

Answer by  patti (29325)

An upside-down lease has to do with vehicle leasing and happens all the time. Instead of rolling it into a new lease and continuing to own the problem, try to sell the unfinished lease through a specialty service that markets vehicle leases.

Answer by  Dean (4035)

An "upside-down lease" is a term in car leasing, not real estate. Most car leases get upside down; it's very common. The best thing to do is market the unfinished lease through a service that does just that. You can easily find these services in an Internet search.