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Lease Termination Fees and other costs

1038 messages,  Last post on Nov 19, 2009 at 9:34 AM

You are in the Smart Shopper Forum. Your Hosts are kirstie_h & tidester

What is this discussion about? Car Leasing


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#1006 of 1038
Re: Lease Return - Dealer or Self Repair [tony5oh] by qbrozen
Jul 07, 2009 (1:36 pm)
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Replying to: tony5oh (Jul 07, 2009 12:02 pm)

Yes. You should be able to get a pre-turn-in inspection, then decide for yourself what you want to do.
 
Call GMAC to set it up.
#1007 of 1038
Early termnation with GMAC with Very Low Mileage by radioative2006
Jul 12, 2009 (4:19 pm)
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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 ?
#1008 of 1038
Re: Early termnation with GMAC with Very Low Mileage [radioative2006] by volvomax
Jul 14, 2009 (10:00 am)
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Replying to: radioative2006 (Jul 12, 2009 4:19 pm)

no concession for less than the contract miles.
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.
#1009 of 1038
lease end help needed by psumommyof2
Jul 16, 2009 (6:10 pm)
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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.
#1010 of 1038
Re: lease end help needed [psumommyof2] by tidester HOST
Jul 16, 2009 (7:21 pm)
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Replying to: psumommyof2 (Jul 16, 2009 6:10 pm)

If you buy the Odyssey at the end of your lease at the residual value your payments will be about $373 per month (48 month loan, 7.26% apr). I don't know if that helps with the cash flow problem but it might get rid of the overmileage charge.
 
tidester, host
SUVs and Smart Shopper
#1011 of 1038
Re: lease end help needed [psumommyof2] by grandtotal
Jul 17, 2009 (4:51 am)
Reply

Replying to: psumommyof2 (Jul 16, 2009 6:10 pm)

I suggest you buy it at the end of your lease, assuming that it has been trouble free and that you have maintained it regularly and it has not had a major accident. A 3 year old Odyssey with 51000 miles (at lease end) will still have several good years ahead of it without major repairs, though you're probably going to need new tires soon.
 
My only reservation is your comment about the lease payments killing you. I doubt that the loan payments will be any less. Perhaps you should look at a smaller, cheaper to run vehicle?
#1012 of 1038
Dent repair by rbirns1
Jul 17, 2009 (7:08 am)
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My Audi Q7 lease ends in 2 months. I was recently rear ended by a truck. Very slow speed, small dent near the license plate. Other driver said he would pay for the repair. I got 2 local body shop estimates ($800 and $850) and sent to him. He sent me a check and we're good.
 
My question: if I turn in the car as is, will Audi gouge me on the repair? Can the pre-inspection tell me how much my cost would be? Is that binding? Bottom line for me, if Audi will charge me the same as my local body shop, I would rather just turn it in and not deal with the hassle of repair.
#1013 of 1038
Re: Dent repair [rbirns1] by taun
Jul 17, 2009 (9:12 am)
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Replying to: rbirns1 (Jul 17, 2009 7:08 am)

About your Audi lease, the end of lease inspection will tell you how much Audi will charge for the repair. Exactly how much will be determined by the inspector and their estimate of the damage cost.
 
I have an A4 that had a tiny dent (smaller than a dime) and the inspector wrote the cost to be $55 on my inspection report. That's pretty competitive to what most mobile dent repair outfits charge.
 
If you do your inspection early you'll get the estimate. From there, see if it would be cheaper to let Audi handle it or to do it on your own.
#1014 of 1038
Re: Dent repair [taun] by rbirns1
Jul 17, 2009 (11:04 am)
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Replying to: taun (Jul 17, 2009 9:12 am)

So the amount given at the inspection will be the amount charged? Audi won't hit me with any surprises?

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