Tini

Suggestions?

Scot

harder than hell!!! there is some website leasetrader.com or something like that... but most leases are underwater by a good bit ...especially during the first part of it.

Pony up and eat the expense.....sell the car for the best that you can and eat the rest (which may be more than your remaining payments...so that is not a good choice too often).

I steered away from a 3 year lease knowing I wouldn't keep the car that long. Honda leases are especially hard to get out of since they don't let you transfer them.

Goodluck!

Scot

taylor01

1. turn in the car and pay the remainder of the payments.
2. sell the car and pay the difference of what you got for the car and what the total of the residual value plus the sum of the remaining payments.

Either way you are stuck with the remaining payments.

PLYRS 3

[QUOTE]Originally posted by taylor01
[B]1.

PLYRS 3

i should have mentioned that this is the case in canada, at least....

hell, i had to get the dealer involved just to put personalized plates on my wife's car.......canada sucks for car admin. stuff.

Humanatek

I have done this once before and I am currently doing this again so that I can get another S2k. The short of it is that you if you have made more than half of your payments, you can usually call the company you are leasing the car from (i.e. AHF, BofA, etc.) and negotiate the buyout down from what it currently is. For example, I am currently leasing a 2000 4Runner Limited. The buyout is supposed to be $28,200. I called them up on Monday and used my "special negotiating tactic" and have so far talked them down to $23500 on the buyout AND I am going to hear back from them today as to whether or not they will drop it all the way down to $22,000. PM me if you would like to hear details of how I do this.

Humanatek

Sorry, but this is a completely inacurate statement. When you are financing a car, you dont own it either, the bank does. You MOST DEFINATELY can sell a car that you are leasing. You just need to pony up the difference between what you get and what the buy-out is. Hell, I sold one of my leases for $3k more than what the buyout was on the car. I used that money for the down on the next car.

PLYRS 3

yes, but the difference is that the ownership will be in YOUR name with bank financing......you DO own the car, but the bank will have a lien on it.....hence, you will not be able to "sell it", until you pay off the bank.

in leasing, the ownership is in the leasing company's name......you have no way (or right) to negotiate that "instrument"....only the leasing company does.

again, this is the case in canada, at least.......

Scot

I think to sell your leased car, don't you need to "buy" it from the leasing company (and paying sales tax on it), then sell it.????

I think the best thing would be to take your car to the dealer where you plan to buy your next car and have them negotiate some, and also roll the difference into the new car.

no matter how you slice it, you will most likely get ed in the end!

Humanatek

No, actually that is not true. What you do is contact your leasing company and get a buyout quote. Then ask them if there is any paperwork that they require (each company has different requirements) and then simply sell the car to your buyer. Once they give you the money, you send it into the leasing company (plus or minus the difference between the buyout and what the buyer gave you), and they will release the title to you. You then simply forward it onto the buyer. This is essentially the same thing you do when you finance a car.

This, however is a definate possibility, it all depends on how good of a negotiator you are and how good or bad of a deal you got in the beginning. What most people dont realize is that every aspect of a lease is negotiable at lease inception, including the residuals, mileage penalties, etc.