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Lease Termination Fees and other costs

1189 messages,  Last post on Apr 19, 2013 at 4:18 AM

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Messages Page 119 of 120

#1175 of 1189 how to terminate a lease in order to lease another car with vw by lepia

Dec 10, 2012 (10:34 am)

Hello all,
  
 I have a 2012 lease. The lease is 15 months old. I only have 9200 miles and the car has no scratches.
  
 I would like to take advantage of the sign and drive event vw is offering.
  
 Is it possible to turn in my lease and get into a new one without any penalties, and making the same monthly payments as my current lease?
  
 Are there any incentives to VW owners and if yes, do these incentives apply to me?
  
 Let me know what to expect from the dealer and how to negotiate the deal,
  
 Thanks,

#1176 of 1189 Re: how to terminate a lease in order to lease another car with vw [lepia] by sebring95

Dec 10, 2012 (8:34 pm)

Replying to: lepia (Dec 10, 2012 10:34 am)
It's pretty simple math. What's the current buy-out on your lease vs the trade-in value. If those numbers are reasonably close you could probably get a deal going.

#1177 of 1189 Re: how to terminate a lease in order to lease another car with vw [lepia] by qbrozen

Dec 11, 2012 (9:27 am)

Replying to: lepia (Dec 10, 2012 10:34 am)
At just 15 mos in, it is VERY doubtful you'd be getting into a new one without penalties. But you'd have to go to the dealer to find out.

#1178 of 1189 Re: how to terminate a lease in order to lease another car with vw [sebring95] by lepia

Dec 11, 2012 (6:21 pm)

Replying to: sebring95 (Dec 10, 2012 8:34 pm)
Thank you Sebring95 for the reply.
 
I just came from the dealer and it didnt turn out as I would liked to.
 
It appears the current buy-out was 25K and the trade-in value was 19K.
 
I had to come up with almost 6K to turn in the lease.
 
I will stick with my current lease and hope that in 24 months vw will come out with another sign and drive event.

#1179 of 1189 Re: how to terminate a lease in order to lease another car with vw [qbrozen] by lepia

Dec 11, 2012 (6:34 pm)

Replying to: qbrozen (Dec 11, 2012 9:27 am)
You were right qbrozen.
 
Thank you for the insight.

#1180 of 1189 Re: End of lease discussions [jeffmetanna] by jipster

Dec 27, 2012 (8:04 pm)

Replying to: jeffmetanna (Oct 28, 2012 9:45 am)
Also, during the last 3 years of lease, I only had 3 oil changes and nothing else. Would that be a problem?
 
yes.

#1181 of 1189 lease expiring? by steve_ HOST

Jan 22, 2013 (9:10 pm)

A reporter would like to speak to someone who is going to be in the market for a new car in the next few months because their lease is expiring. If you fit this description, please email your daytime contact info to predmunds.com by Friday, January 25, 2013 at noon PT/3 p.m. ET.

#1182 of 1189 Re: dealership mess [rx2man] by ess_ess

Apr 16, 2013 (5:32 pm)

Replying to: rx2man (Jul 17, 2011 5:11 am)
This is my first post here at Edmunds. I hope this thread is still active.
 
I am in a similar position. I leased a 2012 Chevy Cruze LS for 39 months. In the residual column, the finance guy struck out the amount given with the added $2500 fee with a pen, and rewrote the amount for $2500 lesser when I pointed it out to him and said that is wrong. I guess I didn't push him to get a new document with the correct amount printed on. Now, I'm in a condition where I'll be leaving the country and I've to do something about my lease. Turning it in is super expensive as I'll owe every payment due until the end which is about 27 months at 250 apiece minus interest charges.
 
I called Ally today for a buyout price and was quoted at the residual(8600) + 2500 + all remaining payments(6500) + "property taxes". The buyout price is greater than the value of the car when I signed the lease(17k + taxes in full because I'm in Texas) . The car itself is in great condition with under 7000 miles on it after 12 months lease period is up.
 
Does anyone have any experience if this 2500 buyout fee goes away for a dealer buyout? How screwed am I?

#1183 of 1189 Re: dealership mess [ess_ess] by dwynne

Apr 17, 2013 (9:42 am)

Replying to: ess_ess (Apr 16, 2013 5:32 pm)
That $2500 buyout fee is a crime, but you did sign the lease so you may be stuck.
 
If you buyout or sell the car to a dealer you should not owe all remaining payments plus residual and fee. A lot of the remaining payments is interest which you wouldn't owe if paid in full now. So residual plus fee plus some remaining principle amount. Property tax may apply where you live, but probably not on a dealer purchase.
 
Take your car down to CarMax and see what they will give you for it, then have them contact Ally for a buyout price. Anything more than they offer you will have to be paid to CarMax (in cash or certified funds) to get them to take it off your hands.

#1184 of 1189 Re: dealership mess [dwynne] by ess_ess

Apr 17, 2013 (10:04 am)

Replying to: dwynne (Apr 17, 2013 9:42 am)
Thanks dwynne.
 
I'm planning on going down to Carmax and checking out what they will offer this weekend. I'm also exploring the option of a lease transfer and want to keep the selling as a last option in case the lease transfer doesn't go through.
 
I have another question, does any dealer take a lease buyout because this will be a sale only? Or only Carmax? Can I go to the dealership I leased the car and check if they will buyout my lease? I'm pretty sure that I'll probably not get a great price for it, but can I check?

Messages Page 119 of 120

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