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My brother actually wants to trade in his mazda tribute for a sports car. But he has leased the car for a year. He asked me if he still can trade it in. Any one has done that before? Does he have to lose alot of money?

 
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I've done it once before - its better if you do it near the end of the lease....he may have to pay the interest they would have made on the lease out (like if he has 4 years left, the interest on his payments for the next 4 years) plus the value of the vehicle - I'm buying out my Civic off of a lease after 1 year and I have to pay a $4000 penalty

 
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I have never done it but yes it can be done. Hes not going to get any equity out of the car he has now because is it a lease.

 
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let him know hes gonna have to pay the sum of all remaining payments + any penalties they charge, so hes gonna have to pay a large sum to get out of the lease or have someone take over payments.

 
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Thats not necessarily true. If he were to trade it back in at the same dealership for say a Miata, then he wouldnt have to. If he went to a completely dealership and got a S2000, then I think they pay it off at the Mazda dealership and start over a new plan at the Honda dealership.