Early Termination Lease Help

armstrob

Hey all,

I'm new to the forum, so I apologize if this isn't the right place for this post.

So, I have a lease on a 2017 Audi A4 that I am paying far too much for ($740 a month). I rolled negative equity into an already expensive lease (dumb, I know). I have about 9 months left on the lease, and honestly, I could probably just deal with it for that long and turn it in, but I have some credit card debt that I would really like to get paid off faster to avoid the interest.

My idea was to get a loan through my bank that would cover both the fee to terminate my lease early, which Audi said would be roughly $7k, give or take of course, as well as enough to buy a significantly cheaper used car so I can pay off some credit card debt I have.

Any thoughts or recommendations are highly appreciated.

Thank you.

Michaell

armstrob said:

Hey all,

I'm new to the forum, so I apologize if this isn't the right place for this post.

So, I have a lease on a 2017 Audi A4 that I am paying far too much for ($740 a month). I rolled negative equity into an already expensive lease (dumb, I know). I have about 9 months left on the lease, and honestly, I could probably just deal with it for that long and turn it in, but I have some credit card debt that I would really like to get paid off faster to avoid the interest.

My idea was to get a loan through my bank that would cover both the fee to terminate my lease early, which Audi said would be roughly $7k, give or take of course, as well as enough to buy a significantly cheaper used car so I can pay off some credit card debt I have.

Any thoughts or recommendations are highly appreciated.

Thank you.

Why pay off the lease and owe money on a car you won't be driving?

The best course of action is to ride the lease out, then start over with something less expensive.

No advice on the CC debt.