Im looking into leasing a new 2019 f150 xlt, I will be trading in my 2016 f150 which I owe $14000, which gives my a positive equity of about $15000. The question is how does this work? Do they pay off loan and give my a check for the $15000? I have never leased before, so Im not sure how that works. I traded every 3 years, with less than 36000 miles. Or os it smarter to just refinance?