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Is it possible to end a lease halfway through?
I just found out that my position at work is changing and I will be needing to drive all over the island beginning in January. I am halfway through my lease right now and am over mileage by about 3,000. I didn't put any money down, so I pay about $350/month.
I don't really want to buy the car outright, as I was only planning on having it for the lease term and then getting something different. Does anyone know my chances of terminating the lease early without having to pay too much?
Thanks!
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Posted 12/23/13 2:41 PM  |
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alli3131
Peanut is here!!!!!!
Member since 5/09 18388 total posts
Name:
Allison
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Is it possible to end a lease halfway through?
No you can't terminate without being responsible for the balance of the payments.
You can see if you can find someone to take over your lease but if you are already over the miles I doubt someone will want to take over that responsibility.
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| Posted 12/23/13 3:02 PM |
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fabrichick
LIF Adult
Member since 5/05 2479 total posts
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Re: Is it possible to end a lease halfway through?
If you get the same brand of car it's easier to turn the car in early and get a new one.
Not sure about being over mileage, but we are under mileage and today they took back our CRV 5 months early.
We got another Honda. The CRV was desirable as it's under mileage and in great shape.
I would go in an ask them what incentives they have right now for a new car.
This isn't the first time we have done this.
We don't put any money down either.
Good luck.
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| Posted 12/23/13 4:42 PM |
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maymama
my little loves
Member since 8/08 18453 total posts
Name:
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Re: Is it possible to end a lease halfway through?
you could always buy it out at the end and sell it. with miles WAY over, that's usually the only way.
If you are only half way through a lease, they will not let you trade-it back in (more than likely)
I have trouble trading my acura back in 4 months early! For ANOTHER acura!
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| Posted 12/23/13 4:44 PM |
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PrincessP
Big sister!!!!!!!!!!
Member since 12/05 17450 total posts
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Re: Is it possible to end a lease halfway through?
Posted by maymama
you could always buy it out at the end and sell it. with miles WAY over, that's usually the only way.
If you are only half way through a lease, they will not let you trade-it back in (more than likely)
I have trouble trading my acura back in 4 months early! For ANOTHER acura!
to me this seems like the only way. 3k over is a lot. Especially that you are only half way. Sounds like you will be 15 k over in the end. I would buy out in the end. Is this an option for you? What dealership?
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| Posted 12/23/13 4:47 PM |
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chilltocam
LIF Adult
Member since 11/11 9141 total posts
Name:
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Is it possible to end a lease halfway through?
A friend of mine just turned in her leased vehicle and she was in a very similar situation to you. (moved much further from work, so she was way over mileage). She had to pay off the remainder of the lease. They wouldn't even offer her any good deal if she bought the same brand of car.
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| Posted 12/23/13 4:48 PM |
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ave1024
I Took The Wrong Road
Member since 12/07 6153 total posts
Name:
That Led To The Wrong Tendencies
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Is it possible to end a lease halfway through?
You are better off buying the lease out.
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| Posted 12/23/13 5:15 PM |
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ChristinaM128
LIF Adult
Member since 8/12 4043 total posts
Name:
Christina
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Re: Is it possible to end a lease halfway through?
Early bird usually is with 6 mos. remaining.
You probably have to buy out the lease. Or buy the car outright and try to sell it on your own for profit.
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| Posted 12/23/13 8:24 PM |
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angelicd77
LIF Adolescent
Member since 12/13 794 total posts
Name:
Kim
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Re: Is it possible to end a lease halfway through?
Posted by maymama
you could always buy it out at the end and sell it. with miles WAY over, that's usually the only way.
If you are only half way through a lease, they will not let you trade-it back in (more than likely)
I have trouble trading my acura back in 4 months early! For ANOTHER acura!
Which Acura dealership? I work at one!
As for the terminating the lease early. Here's the scoop. They never "get you out". Your remaining payments are added to the price of the next car you lease/purchase. There's always a way but your payment will skyrocket because they will just add what you owe to the new car. And if you don't stay with the same brand you will also get hit with a disposition fee. That will be added to your total payoff amount. As PPs have said. Your best bet will be to stick it out and purchase it in the end. Pm me if you have any other questions!!
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| Posted 12/23/13 10:07 PM |
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