Can I break a lease?

joecal1952 · October 2016

This is the 2nd Elantra I leased. I had a 2012 that has a class action law suit against it and I was stupid enough to lease a 2016 Elantra. I get about 28 mpg, not near 40 mpg, the pickup is awful to the point that it isn't safe getting on the highway, and the cruise control almost got me a ticket. I had it set for 55 and a Trooper pulled me over for doing 65??? He let me go, but my question is, when a leased vehicle doesn't meet your needs or standards, can't you end it? My dealer will not help. This is a bad car and the dealer admitted that the 2017's are better...I am stressed with 2 years to go on this trap!
Thanks!

Michaell · October 2016

joecal1952 said:
Well thanks! It's not that I don't like the car, it is because it isn't operating properly, and if that is between me, the dealer and the bank, then something could and should be done, no?

If your original dealer won't help, perhaps you can reach out to another dealer to see if they can figure out what's wrong with the cruise control (or the speedometer reading - don't know which is the culprit).

If the dealer cannot fix the problem within a certain number of attempts, then you may be eligible for a buy-back through a lemon law. Check with your state about what it takes to qualify. You can start the process with your local BBB.

kyfdx · October 2016

joecal1952 said:
Well thanks! It's not that I don't like the car, it is because it isn't operating properly, and if that is between me, the dealer and the bank, then something could and should be done, no?

Please read my response again. The bank is not a party to your vehicle problems. That is between you, Hyundai and the dealer.

The bank might be called Hyundai Finance, but they are not Hyundai. You have to separate the financing/lease from the vehicle problems.

kyfdx · October 2016

joecal1952 said:

kyfdx said:

joecal1952 said:
Well thanks! It's not that I don't like the car, it is because it isn't operating properly, and if that is between me, the dealer and the bank, then something could and should be done, no?
Please read my response again. The bank is not a party to your vehicle problems. That is between you, Hyundai and the dealer.

The bank might be called Hyundai Finance, but they are not Hyundai. You have to separate the financing/lease from the vehicle problems.
Well then I am getting a runaround from all parties concerned. I called the dealer yesterday who I am good friends with, and they want no part of it and told me the lease is between Hyundai the manufacturer and the bank. It really seems leasing is a bad choice. Once you sign, you are stuck and the only way out is to trade the car in and have thousands in negative equity on the purchase of a new car. Of course you could stop paying for the car and they repo it, but that puts my great credit in the tank. I guess I'll keep saving money and in a year I will have less negative equity and more cash and go and buy a car. Lesson learned. DON'T lease. Any further responses are welcome. Thanks!

Well.. the dealer is right about the lease. It's between you and the bank.

But, the car problems? That's between you, the dealer and the manufacturer.

You can always trade out of a lease. There is always a current payoff amount. But, you'll likely take a financial hit.

kyfdx · October 2016

joecal1952 said:
This is the 2nd Elantra I leased. I had a 2012 that has a class action law suit against it and I was stupid enough to lease a 2016 Elantra. I get about 28 mpg, not near 40 mpg, the pickup is awful to the point that it isn't safe getting on the highway, and the cruise control almost got me a ticket. I had it set for 55 and a Trooper pulled me over for doing 65??? He let me go, but my question is, when a leased vehicle doesn't meet your needs or standards, can't you end it? My dealer will not help. This is a bad car and the dealer admitted that the 2017's are better...I am stressed with 2 years to go on this trap!
Thanks!

No.. you can't break a lease because you don't like the car.

Your lease contract is between you and the bank. It's a financial obligation, not related to the vehicle performance. If your car isn't operating properly, that's between you, Hyundai and the dealer.

joecal1952 · October 2016

Well thanks! It's not that I don't like the car, it is because it isn't operating properly, and if that is between me, the dealer and the bank, then something could and should be done, no?

joecal1952 · October 2016

kyfdx said:

joecal1952 said:
Well thanks! It's not that I don't like the car, it is because it isn't operating properly, and if that is between me, the dealer and the bank, then something could and should be done, no?
Please read my response again. The bank is not a party to your vehicle problems. That is between you, Hyundai and the dealer.

The bank might be called Hyundai Finance, but they are not Hyundai. You have to separate the financing/lease from the vehicle problems.

Well then I am getting a runaround from all parties concerned. I called the dealer yesterday who I am good friends with, and they want no part of it and told me the lease is between Hyundai the manufacturer and the bank. It really seems leasing is a bad choice. Once you sign, you are stuck and the only way out is to trade the car in and have thousands in negative equity on the purchase of a new car. Of course you could stop paying for the car and they repo it, but that puts my great credit in the tank. I guess I'll keep saving money and in a year I will have less negative equity and more cash and go and buy a car. Lesson learned. DON'T lease. Any further responses are welcome. Thanks!

Michaell · October 2016

are you talking to the dealer about the problems with the cruise control? The service department should be able to figure out why it's not working correctly

joecal1952 · October 2016

kyfdx said:

joecal1952 said:

kyfdx said:

joecal1952 said:
Well thanks! It's not that I don't like the car, it is because it isn't operating properly, and if that is between me, the dealer and the bank, then something could and should be done, no?
Please read my response again. The bank is not a party to your vehicle problems. That is between you, Hyundai and the dealer.

The bank might be called Hyundai Finance, but they are not Hyundai. You have to separate the financing/lease from the vehicle problems.
Well then I am getting a runaround from all parties concerned. I called the dealer yesterday who I am good friends with, and they want no part of it and told me the lease is between Hyundai the manufacturer and the bank. It really seems leasing is a bad choice. Once you sign, you are stuck and the only way out is to trade the car in and have thousands in negative equity on the purchase of a new car. Of course you could stop paying for the car and they repo it, but that puts my great credit in the tank. I guess I'll keep saving money and in a year I will have less negative equity and more cash and go and buy a car. Lesson learned. DON'T lease. Any further responses are welcome. Thanks!
Well.. the dealer is right about the lease. It's between you and the bank.

But, the car problems? That's between you, the dealer and the manufacturer.

You can always trade out of a lease. There is always a current payoff amount. But, you'll likely take a financial hit.

OK - That's what I was told by the dealer. So, if there is $4,500 left to go on the lease, that amount would be added onto the cost of a new car. That's all well and good, but it would make my payments not affordable. I guess if I could come up with some money and pay down the lease, then maybe it would work. As far as getting the car fixed, you can't fix poor pickup and gas mileage. Maybe the cruise control could be fixed, but I am still stuck with a lemon like the 2012 Elantras that have a class action law suit against them. Thatmks for all the input! You all have been helpful.

Michaell · October 2016

joecal1952 said:

kyfdx said:

joecal1952 said:

kyfdx said:

joecal1952 said:
Well thanks! It's not that I don't like the car, it is because it isn't operating properly, and if that is between me, the dealer and the bank, then something could and should be done, no?
Please read my response again. The bank is not a party to your vehicle problems. That is between you, Hyundai and the dealer.

The bank might be called Hyundai Finance, but they are not Hyundai. You have to separate the financing/lease from the vehicle problems.
Well then I am getting a runaround from all parties concerned. I called the dealer yesterday who I am good friends with, and they want no part of it and told me the lease is between Hyundai the manufacturer and the bank. It really seems leasing is a bad choice. Once you sign, you are stuck and the only way out is to trade the car in and have thousands in negative equity on the purchase of a new car. Of course you could stop paying for the car and they repo it, but that puts my great credit in the tank. I guess I'll keep saving money and in a year I will have less negative equity and more cash and go and buy a car. Lesson learned. DON'T lease. Any further responses are welcome. Thanks!
Well.. the dealer is right about the lease. It's between you and the bank.

But, the car problems? That's between you, the dealer and the manufacturer.

You can always trade out of a lease. There is always a current payoff amount. But, you'll likely take a financial hit.
OK - That's what I was told by the dealer. So, if there is $4,500 left to go on the lease, that amount would be added onto the cost of a new car. That's all well and good, but it would make my payments not affordable. I guess if I could come up with some money and pay down the lease, then maybe it would work. As far as getting the car fixed, you can't fix poor pickup and gas mileage. Maybe the cruise control could be fixed, but I am still stuck with a lemon like the 2012 Elantras that have a class action law suit against them. Thatmks for all the input! You all have been helpful.

But your car has a trade value as well. It may not be $4500 negative equity.

Can I break a lease?

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