I have leased for the previous 3 years an SUV from Kia. The lease terms claimed a 36,000 mileage but I have only put 19,000 miles on the vehicle. Everyone is telling me that I should be able to "get equity back on the vehicle at return" but when I told the dealer that I would be returning the vehicle and wanted to discuss what equity value was left, they said that by virtue of returning the car I forfeit my equity in the vehicle.
Since it isn't in their best interests to explain to me how I'd go about getting this equity resolved, I'm hoping that other people who've been in this situation before can let me know how best to proceed. I currently don't need the second vehicle, so converting the equity in a second car is not really attractive. The dealer salesman mentioned I could sell both the leased car and our current car and put equity of both items into a third new car, but not sure if that is advantageous or not.
My question is how to unlock the equity of the vehicle -- preferably by getting a big check from someone, but if the only way to do that is by shuffling vehicles around, I'd love to hear input on that.