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Smart Shopper Lease Termination Fees and other costs
1027 messages, Last post on Oct 22, 2009 at 8:46 AM
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Have a few questions for the experts on here: We leased a 2007 Nissan Armada SE in Jan 2007 through NMAC with a maturity date of 4/5/10. We are located in Louisiana. The current payoff is right under $21,000. We pay the tax monthly. We are on target with miles at about 29,000. We are considering waiting to lease end and turning it in, but know we will need to put some new tires on it and maybe a few other things prior to inspection. The truck is in great condition. However, we are also considering selling it prior to the maturity date if I can find a buyer. Here goes the questions ... (1) If a dealer does a courtesy trade for us and the person buying will pay the payoff amount, will the vehicle first have to go in our name (since the current owner is NMAC) and we will have to pay TTL? If we need to pay TTL, I assume we will get the tax credit toward the new car purchase like any other trade. Anything else I need to know about going this route? Any other recommendations if we sell it prior to the lease maturity?
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Replying to: sbuhler (Jun 21, 2009 5:12 am) |
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I originally posted this in the Ford Edge forum but found this forum and have reposted this here. I received an postcard from Ford stating that I can return my lease early (2 months). When I went to the dealer today to discuss my options, he stated that mileage would be prorated. For some reason,I was under the impression that they didnt do that. Can anyone confirm this to be true? My only reason for returning the car early was to avoid the over mileage fees. I will wait until the end of my lease and pay it then.
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Replying to: elliemaej (Jun 23, 2009 11:35 am) |
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Soon returning a 2006 Vue leased through GMAC. It's over miles so we already know we will be billed for that, but what about excess wear and tear? What's generally cheaper: getting the EWT bill from GMAC or attempting to identify EWT yourself and repairing at a non-dealer body shop? Or is it just a crap shoot? I haven't called yet but is it common for dealers to do a sort of "courtesy" pre-inspection so you might get an idea of what they think will be EWT? Thanks!
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Replying to: tony5oh (Jul 07, 2009 12:02 pm) Call GMAC to set it up. |
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I have a 2006 Saab Leased from GMAC for 39 months . my lease will be up in november 2009. I am supposed to clock 39K miles but did only 25.5K until now. Do you guys think I can turn in the car early and get some concessions ? Who should I contact , Dealer or GMAC ?
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Replying to: radioative2006 (Jul 12, 2009 4:19 pm) IF you had bought extra miles up front beyond the standard limits and didn't use them then you would be entitled to a refund. |
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Hi Folks - Because I'm not a car leasing expert and not so good with numbers and such, I thought I'd post here for some opinions/assistance. My 2007 Honda Odyssey (base model) lease is coming to an end. My maturity date is 10/21/09. I am trying to decide what my best option will be for when lease is up. I'm not sure if I should buy, hand it back and walk away, or what ever other options might be available. If I need to share more info, please let me know. The current payoff amount is $16822. The residual value on the lease agreement is $15481. I am over mileage, I had a 15000/yr and am presently at 46500. I don't have another car to drive, so the over mileage will continue till I decide what I'm going to do next. I would like to get my payments back down to something more reasonable, whatever option I choose. These lease payments are killing me, I was so foolish in my younger days..anyways, any help would be greatly appreciated.
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Replying to: psumommyof2 (Jul 16, 2009 6:10 pm) tidester, host SUVs and Smart Shopper |
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