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Lease Termination Fees and other costs

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

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#9 of 1038 Not Walking In is great by kasperghost Feb 25, 2004 (3:28 pm)
Thanks for the advice. I called NMAC and got a payoff faxed over (Residual is non-negotiable:( ). My CU is going to do a loan for 4%. Best of all, no yahoos to deal with at a dealership.   The regional Kelly Blue Book is about $1500 above residual and locally about $2-3,000 above residual.   I'm shocked- Take Money- Take Keys- Good to go:)
#10 of 1038 RE: car man by ksurg by dtownfb Feb 27, 2004 (9:27 pm)
If you have to pay the lease payments for the Audi, why not just keep it until the end of the lease? You only have 6 months left. The BMW 745 will still be there in July.
#11 of 1038 Dtownfb .. by rroyce10 Feb 28, 2004 (1:25 pm)
....... Good point, it's not like anyone is beating a path to buy the new "7", it might even be the same one sitting there with a nice rebate in the trunk ..........                        Terry.
#12 of 1038 ? Damage allowance - Acura MDX-T '01 by BOBPUT Apr 07, 2004 (12:38 pm)
I would like to know what "damage allowance" may apply by American Honda- I've seen $1500, 1200 & 500 on various postings, but don't find anything specific in my 3/01 lease (42mo). Over mileage by 7-8K --do they always stick to the 15c/mile in the lease, if vehicle is worth more than the residual? Anything to negotiate anywhere? All else equal, leasing an '04 or '05 would please my wife.
#13 of 1038 Bobput by atlgaxt Apr 08, 2004 (1:45 pm)
With the high resale values on the MDX, I would buy it and sell it or trade it. I'm not sure about the damage allowance, but they will probably try to stick it to you for the mileage. I think some of these factors used to be more negotiable upon a trade in, but it seems they have been getting pretty tough lately.   I bought a car two months before my last lease was up. I tried to make the last payment and give it back. They did not want it until the lease was up. I was right at my mileage limit, so I had to park the stupid thing and pay insurance for two months. It made no sense to me. They said if I brought it in early, they would take it to auction and I would have to pay the difference between that and residual, which probably would have been thousands (I guess I did OK leasing their in the big picture - they took a big hit on the bad residual). But their policies at the end are ridiculous. Replies to this message: BOBPUT (Apr 10, 2004 1:35 pm)
#14 of 1038 Re: Bobput [atlgaxt #13] by BOBPUT Apr 10, 2004 (1:35 pm)
Replying to: atlgaxt (Apr 08, 2004 1:45 pm) Thanks for the response--What was your leasing co?--That's what I'm trying to get a feel for--sorry yours was so inflexible-before the MDX I leased 2 Windstars thru Ford, & couldn't complain-- there "damage allowance" seemed weird: $250 allowed on each quarter of the exterior! but still would like to know AHFC Honda policy and $. WORST thing is Lease says will only tranfer MDX directly to MY name--so I guess the sales tax on residual price would have to be paid by me, and then again by any buyer-- unless I become a licensed dealer--Any way around this??? Thanks
#15 of 1038 ALSO-Does Honda extend easily? by BOBPUT Apr 11, 2004 (10:54 am)
I also forgot to ask if AHFC does extensions--since my lease is up Sep 3, if I wanted to trade into a 2005 model, a 2-4 mo extention might be good-Ford did this for me more or less automatically.
#16 of 1038 Re: ALSO-Does Honda extend easily? by Car_man HOST Apr 12, 2004 (3:44 am)
Hi BOBPUT. AHFC does extend its leases for a few months for consumers who wish to. Place a call directly to AHFC and they will tell you exactly how to do so.   Car_man Host Smart Shoppers / FWI Message Boards
#17 of 1038 Bobput by atlgaxt Apr 12, 2004 (6:06 am)
I was leasing through Provident Bank. They gave me a good overall deal (there were no special or subsidized deals from the manufacturer at the time I did it), but I guess because it was a bank and not a car company, they were less flexible at the end.   Upon inspection, they noted minor damage on our car and the fact that it had been wrecked and fixed. The wreck was not our fault and was paid for by the other insurance company, and the inspector claimed it was not fixed right. I thought I was going to be in for a fight, but then they just waived all the damage that the inspector identified.   Typically leases will extend beyond expiration on a month to month basis on the same basic terms, but you would have to look at your contract to see the exact language. Sales tax varies by state to state. I believe in Georgia (my state), I would have had to bay taxes to buy the car, but there are no taxes on private party sales. I am not sure how your state operates. Sorry I can't help more, but issues such as your original lease contract and the laws of the state you are in will control your specific circumstances. I used to do OK leasing, but in the last few years I have been doing to much driving, so I am back to buying.
#18 of 1038 Lease Trading Services by gari Jun 25, 2004 (4:21 pm)
Hello!   I've got a 2003 Nissan Xterra with 19 months left on the lease. I'm moving back to NYC from Cali. and don't really need the vehicle. I've looked into the lease trading sites and was wondering if anyone has had any experience - good or bad, with them? I know that I'm still on the lease even if I transfer. All of the lease trading services offer an "insurance plan". What I'd like to know is: are these plans really reliable? does anyone have a success story?? ANY info would be helpful!!   Thank you.

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