Getting out of a Car Lease

[DrewDevil]

[ QUOTE ]
OP asked a question. The question was answered. This is not a matter that has any grey area.

It would be like saying I want to adopt a puppy and then saying I do not want the puppy anymore after I bring it home. My choices would be to either to keep the puppy or get rid of it. We can discuss a lot of meaningless crap but I still only have two choices.

btw....I am ranked in the top 75 in the United States for retail Toyota sales volume for the past 4 years....I do know what I am talking about.

also, it is not nice to make fun of drowning girls.

[/ QUOTE ]

Wow, impressive sales numbers. Will you have sex with me?

BTW, if you haven't read the lease, you don't know if there is any grey area, so you're just blathering about things you know nothing about.

[Fred G Sanford]

It depends what bank you are dealing with but the problem with turning it back to the bank is that there is no set amount for the penalty like there is for a cell phone contract. The total liability depends on what the car sells for compared to what you owe. What you owe depends on how the bank figures the payoff.

There is also the option of having someone assume the lease but this also carries some risk. You would only do this with someone you know because you would pay a fee($500-$1000) and also you will stay on the lease as a co-lessee...meaning that if the person who assumed it defaulted the bank would come after you for payment. This also holds true at lease end when you could get billed for damages.

Fred G Sanford

[cabbagehead7]

excuse me, sir. You are correct. His lease may have a "oops, what if I change my mind" clause.

[NicksDad1970]

[ QUOTE ]
OP asked a question. The question was answered. This is not a matter that has any grey area.

It would be like saying I want to adopt a puppy and then saying I do not want the puppy anymore after I bring it home. My choices would be to either to keep the puppy or get rid of it. We can discuss a lot of meaningless crap but I still only have two choices.

btw....I am ranked in the top 75 in the United States for retail Toyota sales volume for the past 4 years....I do know what I am talking about.

also, it is not nice to make fun of drowning girls.

[/ QUOTE ]

It was a joke Capt. Sensetive. If it truly offended you then I'm sorry. But I wasn't making fun of a drowning girl.

[hiho]

[ QUOTE ]
contact leasing company and see what the 10 day payoff would be. Make a well-informed decision based off of the information. Not a whole lot more can be said.

[/ QUOTE ]

Thanks, any idea what the penalties will be?

[DrewDevil]

[ QUOTE ]
[ QUOTE ]
contact leasing company and see what the 10 day payoff would be. Make a well-informed decision based off of the information. Not a whole lot more can be said.

[/ QUOTE ]

Thanks, any idea what the penalties will be?

[/ QUOTE ]

Are you serious?

READ. YOUR. LEASE.

[hiho]

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
contact leasing company and see what the 10 day payoff would be. Make a well-informed decision based off of the information. Not a whole lot more can be said.

[/ QUOTE ]


Thanks, any idea what the penalties will be?

[/ QUOTE ]

Are you serious?

READ. YOUR. LEASE.

[/ QUOTE ]

Yes I'm serious. [img]/images/graemlins/confused.gif[/img]

If it were on the lease then I would have just paid it already.

[LetItBe]

[ QUOTE ]
I don't mind paying a few thousand in penalties if I can get out of it I just don't want to pay all of the interest.

[/ QUOTE ]

Have you actually added up what your interest payments will be? Do that, THEN compare to the penalties + interest lost on pushing the cash into the car.

Don't just assume that paying it off is better, lease terms can be very favorable.

[cabbagehead7]

OP has to be leveling everyone. I am done with this topic.

If it was a joke.....well done.

If you are for real:

please contact your leasing company and ask them. If you do not know the phone number, contact the dealer where you bought the car.

Good luck, sir. I wish you well.