Getting out of a lease...

So DH has a 2004 Dodge Hemi 1500 pickup, and he wants to get out of the lease becuase the gas is costing him about $150 a week to go from Amity Harbor to Roslyn. He talked to the dealer and they will not "release" him from his lease.

I might be mistaken, but I though leases were no longer legal in NY, and that in reality it was a loan with a final baloon payment????


So....does anyone knwo how to get out of a lease?

TIA

Re: Getting out of a lease...

Leases are still legal in NY, however, a majority of the car companies, like GM, decided the vicarious liability laws were too risky and opted out of leasing. Some companies still do leases, and perhaps you still have a lease. I have a lease right now, but my lease is almost 2.5 years old and the leases stopped sometime around early 2003 for GM.

Anyways...... How long is the lease for? Getting out of a lease is not going to be easy. I know GM offers a pull ahead program, where they will take you out of your lease up to 6 months early with no penalties, but you must lease another car from them (loyalty program). Can you find out if there's something like that available? It's only 6 months ahead, but it could add up.

Otherwise, I think you are just stuck. My DH is a dealer, I can ask him if its possible.

Re: Getting out of a lease...

What about car cash? they say they pay off leases

carcash

Re: Getting out of a lease...

We want to get a Jeep Rubicon, so there will be a "loyalty" thing involved. He would probably get it from the same dealership, too. He got the lease last April, but since the price of gas SOARED, the 8 MPG thing is not so great anymore.


I will also let him know about CarCash.

Thanks for your help