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hazeleyes33
LIF Adult
Member since 5/05 13060 total posts
Name:
Ginger
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Getting out of a Car Lease
My car lease is not up until May 2007 but I have the opportunity to get another car in a few months. I was wondering if anyone has ever gotten out of their lease early and how much it cost. Thanks!
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Posted 4/3/06 2:20 PM  |
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Long Island Weddings
Long Island's Largest Bridal Resource |
SweetTooth
I'm a tired mommy!
Member since 12/05 20105 total posts
Name:
Lauren
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Re: Getting out of a Car Lease
you can sell the car and use the $ you get to pay off the lease. I don't know of any other way to get out of one.
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| Posted 4/3/06 2:22 PM |
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DjPiLL
Member since 5/05 3664 total posts
Name:
Richard
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Re: Getting out of a Car Lease
You have to call your lease company to find out.
There will be HEAVY penalties to cancel a lease early. This is why I never lease.
You could sell your car to someone and pay off the lease. Or you can try a site like swapalease.com to see if someone wants to assume your lease.
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| Posted 4/3/06 2:30 PM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: Getting out of a Car Lease
Call your leasing company first for options. You can get out of it by paying the lease off. If you can sell th car for what you owe plus fees then you can do it.
Leasing companies have been known to get you out of the lease a few months early but maybe 2-3 tops.
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| Posted 4/3/06 2:32 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Getting out of a Car Lease
I have been trying myself- I looked at the swaplease thing- buy my leasing company will still hold me responsible- they each have different rules
I am stuck with my car for another 2 years- they said I could give it back 3 months early- but that would only be if I got another one
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| Posted 4/3/06 2:33 PM |
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luvsun27
Check out my cool glasses
Member since 5/05 8135 total posts
Name:
Kim
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Re: Getting out of a Car Lease
I got out of mine 5 months early...well, I had to pay for the 5 months. Since I was buying a new car...the dealer paid for 3 of the 5 payments and I had to pay for 2.
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| Posted 4/3/06 2:37 PM |
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Mushpot
LIF Adolescent
Member since 2/06 846 total posts
Name:
Traci
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Re: Getting out of a Car Lease
I was in the Auto Finance business. The only way to get out of it early is to have it paid off. So you can work out a deal with your dealer and see if they'll pay off your lease and put you in another car. If not, then you're kinda screwed. Or.. If you can find someone to assume the loan and take over payments, you can also do that.
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| Posted 4/3/06 7:30 PM |
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hazeleyes33
LIF Adult
Member since 5/05 13060 total posts
Name:
Ginger
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Re: Getting out of a Car Lease
Thanks everyone. I already have a car that I am getting so I won't be buying a new one. I might just have to wait until next year to take over the other car. I just thought I could free up my payments earlier.
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| Posted 4/3/06 7:45 PM |
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LBG30
:)
Member since 9/05 3423 total posts
Name:
Noelle
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Re: Getting out of a Car Lease
I got out of my lease over a year early and I would NEVER do that again. They rolled my payments over to my new lease and I was paying a fortune for my new car. It's fine to get out of a lease a few months early but more than that its not worth it IMO.
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| Posted 4/3/06 9:18 PM |
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