John thanks for the feedback.Howdy,
Yes you can do that if you like. I look at it this way however. If you are leasing, I don't see the value in using equity to drive down the payment. If you sell the vehicle outright, assuming you own it and not lease it, you will make much more by going private party. Then you have this equity in your account. I never give up liquidity on a lease. I would rather have the chunk of change in my account than spend it on something I am renting - as you do when leasing. Others may have a different view on this but the above is my operating model.
Yes we own the current car outright (in about 2 months).
If I hear you right:
Cash in hand is better than paying the lease off up front.