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Lease Termination Fees and other costs

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Comments

  • 1985mb1985mb Member Posts: 60
    Why not swap out of the lease? It may be your cheapest option considering you have a relatively in-demand car and relatively reasonable monthly payment. If you had a large SUV with a high monthly payment, you'd be in more trouble but at least with an Accord you have some outs...

    Even if you offer to cover the leasing co's transfer fee (not sure what that is for AHFC) and some upfront cash incentive to the buyer, it may be cheaper and easier than shopping around for a dealer to trader your car in.

    You can advertise your 'deal' on CL for free or at swapalease, leasetrade and leasetrader.com for a small fee
  • dwynnedwynne Member Posts: 4,018
    Why not swap out of the lease?

    Simple answer: AHFC does not allow lease transfers.

    Dennis
  • bkinpabkinpa Member Posts: 1
    I am in month 13 of a 36 month 2007 Chevy Suburban lease with a 32,000 mileage cap. Currrently at 20,000 miles. At my this pace, I will end up paying more than $7,000 in over mileage fees when I turn it in.

    Today, I called GMAC and inquired about what options (if any) do I have to soften the mileage blow at the end of my lease. They said I have 23 payments left at $470/month and I would probably owe $7k at lease end for the over mileage. They offered me an offer to terminate the lease today for $5,100! In fact, if I waited a few more months and timed my termination just before the 32,000 mileage mark, the termination fee would be even less and would NOT incur any over-mileage fees.

    Help me with the simple math: 23 remaining payments = $10,810 PLUS another $7,000 in anticipated over mileage charges versus paying $5,100 today and I am walking away from the lease.

    Why would GMAC give up a contractual lease obligation of $10k, plus another $7k to equal $17k AND be burdened with unloading a monster gas guzzler with high mileage versus letting me walk today for $5,100?

    What gives? Sounds like a good deal for me...
  • kyfdxkyfdx Moderator Posts: 235,175
    If you pay $5100 extra today vs. $7000 extra after 23 more payments, then the actual cost of using those extra miles is only $1900 more.... That's only $83/mo..

    $470/mo. sounds cheap for a Suburban... What are you going to replace it with?

    And, though not part of your money calculation, I still have to ask.. Why get a 10,500 mile/yr lease, when you drive 18K mi./yr.?

    regards,
    kyfdx
    visiting host

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  • volvomaxvolvomax Member Posts: 5,238
    Most VFNA leases include wear ins at no charge.
    So, your only expense should be the $395 disposition fee.
  • bigbutrbigbutr Member Posts: 111
    We've been out looking at something to replace an 06 Odyssey van when the lease runs out in December. Of course, every place we go offers to make our last three payments if we want to get into their car then. My question is this: Would we get a check to make the final payments, then turn the van back in, provided there were no extra charges for any damages?
    We are well under our mileage (36500 of 46400 allowed) but I don't want to trade it in because the residual is higher than what I think we would get. I'm just a little leery of the "we'll make your final three payments" spiel because I can just see getting a notice from Honda asking where our payments are after doing the deal.
    FWIW, we're looking at a myriad of vehicles: Lexus RX350, Toyota Highlander, Volvo XC90, Acura MDX, Mazda CX-9, VW Tiguan and Buick Enclave. At least, that's the list we've narrowed down to after starting with about 18-20 and eliminating from there.
  • dwynnedwynne Member Posts: 4,018
    Unless your current ride is worth more than the current buy out price, no dealer is going to "pay your last payments for you". YOU are going to pay them since the dealer will just roll this on top of your new deal.

    You should negotiate the price of your new vehicle first, then worry about payments or lease details. THEN see if you can get the same payment / price and get a dealer to pay your current lease off for you. Odds are good they will not. You can also take your current ride to places like Driver's Way and CarMax to see how much they will pay you for it. Don't tell them how much you owe, the buyout, or how many payment you have left - just get a quote from them and then you compare that to the current buy out price. If they would give you enough to pay off the Ody, just sell it to them and go get something new (if that is what you want).

    If the Ody is not worth the buy out price now, it will not be worth more at the end of lease - so there is no reason to get out of it early (no profit in it). Why not just turn it in at lease end and then get something new? AHFC has one of the best, if not the best, turn in policies in the biz - no fee and $500 per item and $1,500 total in forgiveness for dents, tears, tires, etc - it really is painless.

    Dennis
  • ddog171ddog171 Member Posts: 11
    I have 9 months left on my H3 lease and am under my miles. I was wanting to buy a smaller car, and was wondering if I went with a GM car would they be willing to work with me on my lease without charging me the early termination fees? Or should I just wait till the end of my lease? What other options do I have?
    Thanks!
  • volvomaxvolvomax Member Posts: 5,238
    One way or another, your remaining payments will be charged.
    If you can, I would suggest you be patient and wait until your lease is up.
  • a4vya4vy Member Posts: 9
    I am in major desperation to find the best solution to my problem. I am moving away from the country in October 08 and dont know what to do about my car lease. I leased an Audi A4 last september 07' on a 36 month lease. I still have about 24 months left. Will I end up paying the remaining 24 months even after turning the car in early? Is my best bet using swapalease or leasetraders? How effective and quick are they in getting someone to take over my lease. Would buying the car and trying to sell it to a used car dealership be something I should look into?

    Any suggestions..solutions to help would be highly highly appreciated. :confuse:
  • robger99robger99 Member Posts: 42
    I would try leasetraders or swaplease first. the fees are not outrageous and depending on how low the monthly payment is you may have some success in transferring the lease. I have had my car listed for about 4 weeks and have a registered buyer coming to look at it on Saturday.
  • sebring95sebring95 Member Posts: 3,241
    How quick swapalease/leasetrader works depends on how good of a deal you offer. First thing to figure out is exactly how much $$ it's going to cost to get out of the lease. Call VW finance and ask the current buy-out price and also make sure that buy-out is the same if someone else or a dealer is buying it. Sometimes they have a different buy-out if it's not being sold directly to you. Once you have that number, you need to find out what the car is worth today. Carmax could give you a ballpark figure, or you could try the "real-world trade-in value" forum here at Edmunds. Once you have that you'll know where you stand. From there it's just a matter of mitigating the loss by selling or finding someone to assume the lease.

    Usually you can find someone to assume the lease if you sweeten the deal with cash. So instead of coughing up $5,000 if that's the short-fall of selling it outright, maybe someone will take $2,000 and assume the lease. Just depends on the situation. Let us know what you find out.
  • dtownfbdtownfb Member Posts: 2,918
    I'll play devil's advocate on this. If you do a lease swap through one of those websites, aren't you still responsible for lease since you are the one that the finance company has the contract with? Or does the website arrange for the potential "buyer" to be approve by that lender?

    Personally, I would find out what you are in for the A4 to the leasing company and sell it on your own. make up the difference if the sale comes up short.
  • sebring95sebring95 Member Posts: 3,241
    All those sites do is connect the individuals and provide some guidance on how to handle the transfer. Most company's allow for a transfer with full release of the original leasee. Honda is one that does not, you would still maintain liability. I believe VW allows a comlete transfer. I have assumed leases in the past through GM and Toyota and they released the original leasee completely. I then bought-out and resold or kept the vehicles at the end. GM had a different buy-out price for me vs a dealer. Dealer price was higher. Toyota had just on price but required using a dealer to handle the title transfer so it cost me some extra fees and headaches to get a dealer to do the paperwork.
  • a4vya4vy Member Posts: 9
    Thank you so much for your help and reply. I'm totally stressing!!!

    Here is some info about my lease

    Audi A4 2.0T FWD Sedan 2008
    Quartz Silver exterior
    Black leather interior
    Current mileage: 12,405
    Lease miles: 15,000/yr

    Downpayment: $5500
    36 Term lease 10/10/2007 ~ 10/10/2010
    Monthly Payments: $395.62
    I also was convinced to purchase the service contract for $590 which is included in the monthly payments.

    Payoff info:
    Residual Value: $18,924.00
    Scheduled payments not yet due: $9,136.75
    Rebate Unearned rent charge: -$2,231.35 ( I have no idea what this is)
    Total Amount: $ 25,859.55

    My car was leased from Rusnak Audi in Pasadena, Ca.

    I talked to a salesperson from swapalease. They charges are between 500-1200 but he saids is a one time start up fee and that is all. Is it necessary to go through a company like swapalease or leasetrader to transfer my lease? Or can I post my own ads?

    Is $25,859.55 a good deal for my car? Would anyone buy it for that amount?

    Thank you so much!!
  • a4vya4vy Member Posts: 9
    Did you go through swapalease or leasetrader? How much did you list your posting for? The swapalease person i talked to he said their prices range from 500-1200 and that i should do the 800 package?
  • sebring95sebring95 Member Posts: 3,241
    Someone else will have to chime in on the price. At face value, I don't think $25.8k sounds like an overly attractive deal. However, the lease payment is in the ballpark to get folks interested. You may have to throw a little cash on the table if you want a quick deal either way.

    I had no idea Swapalease charged so much for their services to "sellers". I've always been on the other end and I think I paid $50 for a lifetime membership. I'd probably recommend sticking an ad on Craigslist saying "4-sale or assume lease" and see what happens. You do NOT have to use swapalease or leasetrader to transfer a lease. And unless they've changed their services since the last time I assumd someone's lease (a couple years ago) they basically did nothing except put your ad online. They will only release your contact info to registered users, so it's a somewhat captive audience (serious buyers, so that's a plus). However, once I was put in touch with the seller, we had to take care of all the paperwork ourselves. Once you have a potential "assumer", you contact VW finance and they can start the paperwork for you. You basically have to file paperwork stating you agree to transfer the lease. The assumer has to file credit application and assumption documents with VW. Once everything is approved, you can hand over the keys. I think the quickest one I've done took two weeks and that was with Toyota finance.
  • robger99robger99 Member Posts: 42
    Went through swaplease and basic ad was only $100.00 with single picture. Contact named Bill Bell. Had a second registered buyer contact me this am so hopefully will transfer the lease soon. Have it listed on craigs list for a month now and just one brief email contact that way-would say swaplease is more effective as you know peole are at least somewhat serious about your car if they pay to register.
  • volvomaxvolvomax Member Posts: 5,238
    Wholesale on the car is prob $22-ish.

    I'd get a buy bid from Rusnak and see what it would cost to just get out.
  • dtownfbdtownfb Member Posts: 2,918
    Thanks for the explanation. sounds like he needs to check with Audi (VW) and make sure he can do a lease assumption. I still would sell and put up the extra cash. It seem slike it is going to cost him no matter what option he chooses.
  • a4vya4vy Member Posts: 9
    Hi Sebring95,

    thank you so much for your help. I had thought that i had to go through swapalease. Thank you. I'm not too sure what you mean by that i may need to throw a little cash on the table". If i put an ad for 395/mo lease, then it would be 0 downpayment right? Is that what you mean by throwing some cash into it? I'm sorry, my questions are probably retarded...this is the first car i ever bought or rather leased...had no idea that there was so much more then just buying a car. I should have done this much research before I got my audi. Are there any other sites that you would recommend to put ads or listing on?

    So the actual paperwork after someone assumes my lease will take about two weeks? is there anything i can do to speed that up?

    thanks.........
  • sebring95sebring95 Member Posts: 3,241
    When I say put some money on the table, I mean pay someone to assume your lease. There's a good chance it's going to cost you a few grand if you have to sell it outright based on the numbers volvomax threw out above. So maybe instead of a few grand, you offer someone $1,000-$1,500 to assume your lease. This makes for a much more attractive lease assumption and will move the vehicle quicker. The prior leases I have assumed all paid me something to sweeten the deal.

    How quickly the paperwork can be completed really depends entirely on the leasing company. GM took almost a month before I received everything. Toyota was much quicker...about two weeks. If timing is a problem, you may just have to sell it and pay the difference. I'd say if you're in a hurry, a dealer or carmax may be your only choice to move it quickly.
  • bossman141bossman141 Member Posts: 56
    actually I had some recent experience with this. I had 8 payments left on my Pontiac G6 that was leased through GMAC. wanted to take advantage of the Employee Pricing. GMAC waived 2 payments through their "Pull Ahead" program and gave me an additional $2000.00 rebate if I financed the new vehicle (Vibe) instead of leasing it. Couldn't lease it anyway because there are no GMAC lease programs on it anymore.

    Worked out well for me. The 2000 not only ate my leftover payments but I was left with around 700 toward the new vibe.

    Hopes this helps
  • buyusmadebuyusmade Member Posts: 4
    I recently turned in a 2007 T&C lease and in its place leased a new Dodge Caravan. We signed the lease end papers for the T&C and turned over the title to Chrysler Financial through the dealer. This happened on 6/11/2008. But trouble started soon. Now I have received a lease termination charges of $5900 and Chrysler Financial is threatening if we don’t pay up with in ten days, this will be reported to credit bureaus and screw up my credit score :mad: . I have contacted BBB to delay them. But I am not sure what they are capable of. Any suggestions from the group will be appreciated very much reg. what my options are and/or how to handle this issue. Thanks,
  • buyusmadebuyusmade Member Posts: 4
    Thanks for your reply. i will kepp this in mind before leasing my next vehicle. I wish I had discussed this before leasing. Now that the lease has already been finalized, I am not in a position to negotiate. Thus any pointers how I can handle my issue?
  • mehrishismehrishis Member Posts: 13
    Does swap lease really work? They do charge higher ammount for advertisement. Is it worth the money to advertise? What are the stats :confuse: for successful swaplease thought this route?
  • qbrozenqbrozen Member Posts: 32,889
    Tough to know without knowing what all was discussed when you leased your new vehicle. Did you not talk about how your old lease was being handled? Have you contacted the dealer to discuss further with them?

    '11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S

  • volvomaxvolvomax Member Posts: 5,238
    It would help if we knew what the charges were for.
  • dnmanndnmann Member Posts: 8
    Before leasing, check out any credit unions you belong to.

    When I leased a 2006 Avalon, the rate was very competitive, all the paperwork was by fax and mail, when my company bought it out early the deal was clean with no additonal fees and I saved money on sales taxes. The credit union officer told me that as a non-profit, they were exempt from the state sales tax and I saved the 3% VA sales tax on the purchase/lease.
  • jmp7882jmp7882 Member Posts: 2
    I have a extended lease that was terminated 8 months early with 77,500 miles. The total mileage limitation was 82,500, but the lessor charged an excess mileage fee of $780. Even though the limition was not exceeded, there still was an excess mileage charge. It appears the mileage was pro rated resulting in a excess mileage fee on termination. Is it typical for lessors to charge for excess mileage even though the excess mileage limitation has not been exceeded on early termination by pro rating the actual mileage?
  • qbrozenqbrozen Member Posts: 32,889
    Somebody else experienced this not too long ago.
    Here is their post.

    '11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S

  • tidestertidester Member Posts: 10,059
    I think it's reasonable for them to prorate the mileage. Say you had a 5 year lease with a 12,000 mile per year limit. You would be allowed up to 60,000 miles over the term of the lease. If you were to turn in the vehicle 4 years into the lease with 59,999 miles on it you're still under the mileage cap but you've put a lot more wear and tear on the vehicle. The difference between 48,000 and 59,999 miles is significant for a 4 year old vehicle.

    tidester, host
    SUVs and Smart Shopper
  • jmp7882jmp7882 Member Posts: 2
    But isn't that value captured by the separate early termination charge calculated by the formula based upon the Realized Value Of the Car as opposed to the excess mileage limitation? (i.e. if you return a car with 59,999 miles in year four won't its Realized Value be substantially lowever than if it had 48,000)
  • tidestertidester Member Posts: 10,059
    That's a good question - meaning I don't know the answer! :)

    One would think that the fair market value at lease termination would include the vehicle's actual mileage though it's possible the lessor has separated the two. Your contract should spell out the details.

    Perhaps someone with experience would care to jump in here?

    tidester, host
    SUVs and Smart Shopper
  • qbrozenqbrozen Member Posts: 32,889
    I don't think its reasonable at all if they still charge you all remaining payments.
    Essentially, you are doing THEM a favor.

    Option A is you drive 60k miles in 5 years, making all payments over 5 years, and turn the car in. They have a 5-year-old, 60k-mile car.
    Option B is you drive 60k miles in 4 years, making all 5 years of payments, and turn the car in. They have a 4-year-old, 60k-mile car.

    Which one do you think is worth more? Option B, of course.

    '11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S

  • tidestertidester Member Posts: 10,059
    Most of the car's depreciation has occurred before the four years is up so it's not obvious how much of a favor that would be. As a potential buyer of the used vehicle I'd strongly opt for one with 12,000 fewer miles on it.

    Also, one agrees to make ALL of the payments when signing the contract and one agrees to the early termination fees including paying excess miles according to the schedule specified. Reasonable or not, it's what one agreed to. However, it is reasonable, in a legal sense, since no one was coerced into signing a contract.

    tidester, host
    SUVs and Smart Shopper
  • kyfdxkyfdx Moderator Posts: 235,175
    Ditto that...

    You break the contract, you pay the price.. reasonable rarely shows up.. ;)

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  • qbrozenqbrozen Member Posts: 32,889
    Well, sure, if you sign a contract to that fact. If the contract actually states your miles will be prorated based on the full contract, that is unfortunate, but ya did sign it. And you are responsible.

    But I do contend it doesn't make sense from a manufacturer's standpoint. There is no choice of one with fewer miles here. It is the 2 choices I stated above. And we all know a 2004 with 60k miles is worth more than a 2003 with 60k miles. So as long as all the payments are made good on, it makes no sense to charge miles based on what MIGHT happen in the next year. They are making out twice on the deal. They are getting all payments PLUS excess miles that don't exist PLUS they have a car to auction off that is worth more than was projected in the residual.

    And, yes, again, so as to not cause confusion, if the contract states all of this will take place, then the person who signed the contract owes all of that. And shame on them for signing it. I wouldn't give anyone my business who structured the contract that way.

    '11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S

  • tidestertidester Member Posts: 10,059
    I wouldn't give anyone my business who structured the contract that way.

    Nor would I. I always wonder how many people actually read the contracts they sign and commit to.

    tidester, host
    SUVs and Smart Shopper
  • volvomaxvolvomax Member Posts: 5,238
    Nor would I. I always wonder how many people actually read the contracts they sign and commit to.


    Almost no one.
    When I did F&I maybe 1 person a year would read the front and back of the contract.
  • qbrozenqbrozen Member Posts: 32,889
    Almost no one.

    And every F&I person I've dealt with has agreed with that. They are always shocked I read it (although quickly) and make some sort of comment.

    '11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S

  • kyfdxkyfdx Moderator Posts: 235,175
    Well... to be fair to the leasing institution, this really isn't part of your lease contract, as much as it is a penalty for not complying with the terms of the contract. (semantic, I know).

    The leasing company really would rather you comply with the terms. I've found most banks to be very fair at lease end, assuming you've held up your end..

    If you want out early, there are other ways than just turning the car back in... that usually turns out to be the most expensive way to get out of a lease.

    regards,
    kyfdx

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  • qbrozenqbrozen Member Posts: 32,889
    how many ways are there other than turning it in or buying it?
    (keep in mind, I consider selling it privately or trading it in "buying it" because that is essentially what you are doing)

    I had to turn my Accord in early because it was already worth FAR below its residual and still had 9 months to go.

    '11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S

  • corvettecorvette Member Posts: 10,236
    IMO, if you turn it in early, and you pay the full amount of the remaining payments, less the interest charge on those payments, you should get the full benefit of all of the allotted miles on the lease.

    If the calculation is done with some other formula that allows you to pay less than the remaining payments, then I can understand prorating the mileage.
  • kyfdxkyfdx Moderator Posts: 235,175
    I consider selling it privately or trading it in "buying it" because that is essentially what you are doing

    If you trade it in, you never take title or pay sales tax... I don't consider that the same thing, at all... Plus, depending on the bank, you can just sell it straight out to a car dealer..

    Generally, you'll come out ahead that way.... rather than turning the car back in.. As in all things, it depends... :)

    Early termination of a lease can result in many unexpected charges... Some banks are better than others... I've heard Chrysler Finance is one of the worst. Rather than hundreds or thousands in extra charges, I'd let the car sit in my driveway and make the monthly payments..

    After all, who doesn't need and extra car? Or, three? ;)

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  • qbrozenqbrozen Member Posts: 32,889
    I still consider it the same. It may not be passing through you legally, but you had the car in your possession, the $$ amounts show up on the new car paperwork, etc. Sure, you get a tax break when trading it, but that's the same whether you leased or financed.

    Don't know what you heard about Chrysler, but we had absolutely no problems with them. Turned in our Pacifica 3-4 months early. Paid what was on the contract (remaining payments and disposal fee) and that was it.

    corvette - I think it varies by state, but neither Honda nor Chrysler gave me any interest credit. I had to pay all remaining FULL payments, including tax and interest.

    '11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S

  • saablcpsaablcp Member Posts: 195
    "I had to turn my Accord in early because it was already worth FAR below its residual and still had 9 months to go"....????? I don't understand ....were you in a Balloon note of some type where you were responsible for any difference between projected residual vs.real market value? I know of no lessors(including A.H.F.C.)that holds the lessee responsible for a car that depreciated more than their projections. Worth less because you exceeded your allowed mileage,you pay.Worth less because you return it with worn out brakes,bald tires and a cracked windshield,you pay. Worth less because they made an improper market projection....no,thats why they buy residual value insurance. I don't understand your point.
  • qbrozenqbrozen Member Posts: 32,889
    You misunderstand. If you follow the conversation up to that point, KYFDX commented that it is usually cheaper to trade it in than to pay the remaining payments. In the case of my Accord, it was much cheaper to pay the remaining payments than trade it in because its trade-in value was already far less than what even the projected residual 9 months from now was going to be.

    The sentence you've picked, by itself, can be confusing. I did not HAVE to turn it in for the reason stated. But I did WANT to get out of it and turning it in early was the cheaper option.

    It was the same with our Pacifica. And, as a matter of fact, we had hit the mileage limit on our Pacifica (45k) 4 months before lease end. We turned it in, sent Chrysler a check for the remaining 4 payments and that was it. No projected excess mileage charges or early termination fees.

    '11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S

  • saablcpsaablcp Member Posts: 195
    No I didn't misunderstand you as much as I don't understand the rationale of terminating your lease early and taking a needless hit on trade inequity or by paying off the balance of the payments and not having the use of the car.The only situation where you are "upside down''on a lease is if you choose to terminate it early.So the queston becomes "why?"....are you already over mileage and driving what I try to jokingly refer to my customers as a "taxicab"the meter is running at anywhere from 15 to 20 cents a mile /per mile driven ? Has the car become grossly inappropriate for your needs,such as you just had twin babies and you ain't even going to attempt to get two car seats in the back of your Saab convertible? I don't get it ! Unless you have an overwhelming need to end the lease early,,just ride it out!The only time that the cars value in the market being below your lease residual matters is if you want to break the lease early.What was your need or reasons for doing this apparently on both a Chrysler and a Honda lease?
  • qbrozenqbrozen Member Posts: 32,889
    Well, frankly, my reasons have nothing to do with what is being discussed here, meaning the "lease termination fees and other costs." And I know what a stickler you are for wanting to stay on topic.

    '11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S

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