Chris in SD

Anyone have a suggestion on how I can break my lease with Honda Finance? I have an Evo also, so I end up neglecting the S2000 (not driving it very often). I'd also like to make my finances a little more flexible...

If anyone has any suggestions, please reply or PM me.

Thanks in advance!!

Chris

B.C.

Sell it back to the dealership and take a loss. IE: You have 15K left on payments, your residual is 16K. That's 31K, let say your car is worth 26K, then you pay the dealer 5 K, and get out. 5K is one years loss.

BC

revhi

You cant break a lease. Whatever happens, someone is responsible for the remaining payments. Youll lose money somewhere.

Well unless you put a ton of money down and your payment are only like 200 dollars a month. Then youd save yourself selling it back to the dealer. However most people only put down minimum.

S2KANDRE

wing

Transfer the lease. Do you not have things like leasebusters ? We have leasebuster.com it's a site like autotrader where you advertise your car as a lease takeover.

You can also sell the car. The cost of the car would be monthly payment * months left + buyout + taxes on buyout price.

It will be a BIT cheaper (couple of hundred) but that's pretty much the calculation. You can sell the car and that essentially gets you out.

GeorgeP

Basically you have two choices. Find someone to assume the lease or buy out the lease and sell the car. Since you are probably upside down on the lease at this point both could end up costing you money. If you sell the car you will get what the market will give you. The buyout price will be fixed in your contract. The difference could substantial. If you got by for under a 5000 dollar difference I would be surprised. Finding someone to assume the lease might turn out to be a better deal if your leasing company allows the lease to be assumed. You may have to pay someone some cash to assume the lease but the loss would be a lot less then if you sell it. If you do let someone assume the lease they will have to qualify as you do for the lease. Sometimes you can allow a lease to be assumed by someone who does not qualify however you will remain as the responsibly party if they don't pay. This is a very bad deal. Don't allow this type of assumption. You want your name off the lease completely.

Sonic_S2k_04

Swapalease.com

You can trade your lease with someone....or have someone assume it just the same... Pretty good site...

steven975

you can break a lease with most companies.

With Chase, all you have to do is buy the car at the residual, and pay the $100 lease termination fee. Most lease companies are like that.

If you don't want to buy the car, you can sell it (and deliver after the lease is terminated) or take it to a Honda dealer. In most cases you'll be out some cash for the diff between residual and market, but often in the last year you'll break even or better.

Ludedude

That's not breaking a lease, that's buying the car outright.

Don't forget you'll have to pay the balance of payments along with the residual

prelupino

how much is ur lease? and what year and mileage is ur car?