Leasehackr reader Leo recently asked us a question about a “special promotion” being offered by his local Subaru dealer:

Hi Leasehackr,

A Subaru dealer here is running a special promotion in which they’ll pay me $500 to return my expiring Forester lease. I called the dealership, and they confirmed that the offer applies even though I didn’t originally lease the car from them.

My lease contract states I owe a $300 lease disposition fee, so this offer seems like a great deal. Is there a catch? What should I look out for? Thanks!

-Leo

Great question, Leo!

It’s important to first understand the dealer’s motivation for wanting your lease return.

Your current lease payoff amount is based on a residual value set years ago, before the current global microchip shortage and the resulting jump in new and used vehicle prices.

Due to these unusual circumstances, your Forester is, more than likely, worth considerably more than the lease payoff amount. The dealer would love to pay off your lease and buy the car from Subaru Motors Finance, only to turn it around and sell it as a used vehicle for significantly more money.

Given how well Subarus hold their value, it’s quite possible you have lease equity in excess of the $500 that the dealership is offering you to ground your lease with them. By returning your lease to them, you forfeit that lease equity.

One way to maximize the increased value of your leased car is to sell it via Equityhackr. Instead of getting a fixed $500 bonus, you would get the difference between the current lease payoff amount and the price you sell the car for—which could be an amount in the hundreds, if not thousands, of dollars.

Unlike companies like Carvana and CarMax, Equityhackr works for most brands, even those that have stopped third-party lease buyouts, such as GM Financial and Honda Financial Services.