What’s a Lease Pull Ahead Deal?
If you’re in a lease, you may be contacted with offers from car dealers regarding their Lease Pull-Ahead Programs. These offers allow you to terminate your current lease early and enter into a lease for a newer vehicle — often while maintaining the same monthly payment. Sound too good to be true? Here’s a look at the basics of these programs.
Pull-Ahead Program Basics
Pull-Ahead programs are aimed at drivers nearing the end of a lease. These programs allow you to terminate your current lease a few months early, and begin a lease for a new vehicle for the same monthly payment.
Benefits for Lessees
If you’re a fan of leasing, accepting a Pull-Ahead Program offer can help you save money. Lessees often value driving a vehicle with the latest innovations. Pull-Ahead Programs let you drive the latest models without costing you more. In some cases, you may be eligible for lower monthly payments while leasing a brand-new model.
A Pull-Ahead Program can also help you avoid fees that come with you lease deal. If you’re on track to put more miles on your car than your lease deal allows, taking a Pull-Ahead offer can free you from that lease and allow you to start fresh.
Why do automakers offer Pull-Ahead Programs?
Like many other incentives and offers, Pull-Ahead Programs are a way of encouraging brand loyalty. When you’re nearing the end of your lease, you’ll need to decide whether you’re going to lease a new car, purchase a car, or shop elsewhere. A Pull-Ahead offer can encourage you to lease a brand-new vehicle from the same brand again, while keeping your payments the same (or less) compared to your current lease.
Pull-Ahead Programs also allow the dealership to get used models back on the lot for sale, or to prevent an oversupply of a certain used model arriving all at once. After all, an overabundance of a model can be an issue for dealers who have limited lot space. By encouraging early lease returns, the dealer can stem the tide and better manage their used inventory.
Finally, since vehicle get one model year older every September, a dealer may want to get used cars back on the lot before they gain another model year. A three-year-old car will retain more of its value than a four-year-old model. Therefore, the dealer may want to sell the vehicle before it depreciates further.
For more information on leasing, check out our library of articles on leasing.
Kimiko Kidd is a native Daytonian. She graduated from Wright State University with degrees in environmental science and sociology. She loves her trusty old Honda Civic, but dreams of owning a 1974 Ford Falcon XB with a custom paint job and a vintage Kawasaki Z1000. In her free time, Kimiko can be found watercolor-painting, baking muffins, collecting rocks, playing old-school Nintendo games, writing her novel, sewing stuffed animals, and cosplaying as her favorite Mad Max characters. See more articles by Kimiko.