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Some mfg leasing companies require the selling dealer to price the payoff to anyone but the lessee. For example...Let's say I lease a Jetta to somebody. They want to trade it in at another dealer prior to lease termination. That dealer must go thru the selling dealer to get the payoff. The selling dealer can mark up the payoff if they want. Most leases allow the selling dealer to have first shot at the car if the lessee does not want it.
I just bought a new car and made an early return of my 4 yr. lease: VW-Jetta. I made the last 4 payments (out of 48) to get out of the lease. Today I learned that the lease company wants $800 for excessive tear & wear (minor body scratches). The car is 32000 miles out of possible 48000 (12000/yr lease).
What would be your suggestions for me to negotiate a $0 payment for wear & tear (basically negotiating tools to avoid paying anything else). I played the "under-mileage card by phone and the representative did not seem to care.
I appreciate any advise
Remember, you only rent this vehicle .. so you're are responsible for any damages or excessive wear .. under-mileage won't save the $$ that the lease company will spend (or lose) at the auction .......
Terry.
Since then Southtrust has been bought by Wachovia (not that that's relevant to the question). The question is, Wachovia/Southtrust is trying to collect a $300 disposition fee from me. However, on my credit report, it says the lease account is "closed, paid in full".
It seems like this is just a junk fee. They got their car back in the agreed upon condition, they made their money off me for 3 years - so why am I obligated to pay them another $300? What happens if I just blow them off?
Southtrust has always had fee .. why not just pay it..?
Terry.
Seriously, do you think I can negotiate with them to knock it down (or take it off completely)? I have a spotless credit record, and to be honest, I usually pay cash nowadays anyway. But still, I'd rather keep my credit record intact if possible.
Last month when I leased an 05 Accord, the dealer took my 01 VW Golf as a trade that was 5 months from the end of the lease. When they got my pay off amount as a dealer from Bank One (I was next to the salesman when he called) the number he was given included sales tax. At least I assume it did. It is my understanding to buy out on a lease early it is the residual, the remaining payments minus rent charge and sales tax on the residual plus Bank One had a fee to buy the car. They rolled the $1k difference into my new deal.
I wonder if I call Bank One now a month after the deal was done if they can give me a breakdown on the buy out figure. If the dealer doesn't pay sales tax, but it was included on the numbers in the contract will Bank One send me a check for the amount the dealer sent them? I would think if the dealer found out after I signed the papers that the payoff was to high and they didn't pay that much, they have to refund me the difference rather than just keeping it don't they?
I hate that feeling of getting messed around with after the fact.
Live and learn!
... **and Southtrust irritated me so bad during the lease with a billing error that it took them over a year to fix. I figure I spent $300 in my time screwing around with those guys, so we can just call it even and get on with our lives**
............ So it's a "irritation" issue....? .. call them and see what they will do - if nothing, then pay it so it doesn't become a "irritation" issue with them and they drop it on your credit report and you get "irritated" for the next 5/6 years ........
Terry.
It's funny, because when I read the forums I always get annoyed by people who whine and moan after the fact because they didn't read the fine print. Thanks for setting me straight.
I'll call and make them an offer, and let you all know what happens.
I hope someone can help me with my dilema. I went to this honda dealership planning to
trade-in my car and buy a new one (Honda Pilot LX 05). Instead, they offered me to lease because they said that my credit in not good enough. They told me that i have the option
to buy it after making good payments (no delinquent) for 7-8 months, this is to fix my credit
rating or reach the fico score they needed for me to buy the car with lower apr. The payments that i will make for 7-8 months will be deducted to the GROSS CAPITALIZED COST of the car according to them, is this true? Lets just say, that the GROSS CAPITALIZED COST of the car is $32,000 and i made a payment of $2,600 for 7 months, then my early buyout or payoff is $29,400 + tax? Is this right or they just lie to me just to sign the lease? Does anyone here had an experience of early buyout from a lease? And how will they come up with the buyout figure?
They got a little money, you saved a little money .... all is well in the world .......... now, if I could figure out why my pool pump won't back-flush, it would be a 100 percenter day ........
Terry :P
I am looking to exit a 2004 X3 lease - the dealer will take the car back but will ding me $6k (difference between 'market' and payoff). Needless to say I would prefer not to swallow this bitter pill. Assigning my lease to someone else sounds like a great option. Does anyone have any experience doing this?
Thanks!
My lease allows for 65,000 miles but I will probably have less that 50,000 on the car when I turn it in. There are a few dings and scratches and it needs two new tires, but I assume the lower mileage more than outweighs the fix ups they will have to do and gives them more value.
Is there any way to negotiate my way out of the excessive wear and tear costs given the below lease mileage? I
If this is not the right place to post this inquiry - let me know how do do it more appropriately.
Appreciate any help you can give.
Thanks!
Hope this helps.
1- Mine: Leased 01' Toyota Solara. $62K miles. I slowly ran over a large rock one night when I was picking up the mail causing a large scratch under the driver door. Besides this, the car is perfect. I have taken the best care possible.
Remaining payments: (321.41 includes taxes X 9 mos=$2893)
Payoff: $12,855.57
Trade In Value: assuming Clean cond: $9284
Based on this, am I upside down by: $3571? plus whatever it will cost to fix the scratch lets say another $1500.
I am looking at $5K neg equity?
2- His: Free & Clear Toy Corolla 98' 101K miles. Well cared for but driver handle broken on the inside. (minor, handle costs $100).
Trade In Value: $3800
QUESTION: By taking my negative eq of $5K and his positive eq of $3800. Are we in the hole $1200?
If so, $1200 doesnt seem like a lot of money to roll into a new car lease. We dont need 2 cars anymore. We hardly drive period! Am I calculating things right? If so, what is the lowest maximum mileage we could lease a car for?
THANK YOU!
Would appreciate any guidance.
Thanks
Get the pay-off from the lease company (not the dealer) and see where you stand in the market, or maybe sell it on your own ... you can also "try" some of the companies like Swap lease, etc ..... roll over to Real World trade-in Values and with a COMPLETE description I can tell ya what it's worth ....
Terry
Thanks for the info.
Here is my complete info so you can tell me what it is worth.
2005 Jeep Liberty 4x4
Approx. 6000 miles
3.7L Power Tech V6 engine
4 speed automatic
AM/FM stereo with CD
Air conditioning, power windows and door locks, speed control, fog lamps, 16" x 7" luxury Alum. silver wheels, remote keyless entry.
Thanks for the help!
Since I've purchased the car, there have been a few "problems". 1) The engine suddenly stalls, 2) The sunroof no longer functions, 3) The trim around the doors has begun to become detached from the doors, 4) The leather seats have white spots all over them, and the spots are actually IN the leather, 5) GMAC has made mistakes in "processing" my monthly auto debits and has sent me 2 late payment notices only to say "our mistake, sorry!".
This is my first lease, and my first car purchase in general. How can I get out of this lease because if this is a sign of things to come from GM then I'm not impressed about my future with the ION.
The car was leased in Northern Virginia.
Thanks!
Thanks!!!
regards,
kyfdx
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Are you getting these letters from Chase? And are they specifically stating that you WILL pay excessive wear & tear charges? For some who have beaten up their leased vehicles, purchasing may seem a more attractive proposition than paying the charges.
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So you mean to say that if they told you you would have to pay wear and tear if you still bought the car that it would be OK?
They would much rather you buy the car for a myriad of reasons, like any other business trying to sell a product or service they are giving you reasons to buy said product or service.
If you buy out the car at lease end you are not responsible for wear and tear or mileage charges. Correct.
And you want to sue them because of this? :confuse:
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Just saying, it may or may not be Chase's standard practice to try and tack some extra charges on, but that doesn't mean you have to pay it.
I also washed the car and took a ton of digital pictures of the car inside and out before I turned it in.
Just one final thing, if you have a lease "termination fee" or some other BS charge, you can get them to knock that down as well. I think mine was $300, and I ended up giving them around $160.
Does anyone know what happens if you return the car about two weeks after the lease termination date?
Thanks for your info and help.
My question is - am I liable for the entire 2005 tax bill, since I only had the car until April of 2005?
One year, I leased a car on December 31st, and didn't turn in the old one until January 10th... I got hit for property tax on both cars that year...
Of course, the next time... I made certain to turn my car in prior to January 1st, and took delivery of the new one on January 3rd... I didn't pay on either one that year..
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I have a 2003 accord exl v6 with NAV. It's a 4 year 15k per year lease. I have 9 payments left. I want to lease a new Toyota 4runner, top of the line. I know I can either A. wait it out, B. see what the trade in value of my car is and have the dealership purchase my vehicle ( I would be about 4 K upside down), or C. incorporate the remaining payments of my lease into the new lease. MY QUESTION IS, if I do the later, is the car going back to Honda to which then I might be charged for any excess wear and tear (need 4 new tires), or is the car totally out of my hands and I would not have to worry about that?