Can I lease a car with a trade-in?

Yes. If your trade-in has equity, it can be applied as a cap cost reduction to lower your lease payment or cover amounts due at signing. If you owe more than it's worth, the negative equity can be added to the lease's cap cost, raising your payment. On OffLot, the Trade-in page estimates your equity by subtracting your payoff from the estimated value, so you know where you stand first.