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Smart Shopper Lease Termination Fees and other costs
1039 messages, Last post on Dec 03, 2009 at 10:15 AM
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We've been out looking at something to replace an 06 Odyssey van when the lease runs out in December. Of course, every place we go offers to make our last three payments if we want to get into their car then. My question is this: Would we get a check to make the final payments, then turn the van back in, provided there were no extra charges for any damages? We are well under our mileage (36500 of 46400 allowed) but I don't want to trade it in because the residual is higher than what I think we would get. I'm just a little leery of the "we'll make your final three payments" spiel because I can just see getting a notice from Honda asking where our payments are after doing the deal. FWIW, we're looking at a myriad of vehicles: Lexus RX350, Toyota Highlander, Volvo XC90, Acura MDX, Mazda CX-9, VW Tiguan and Buick Enclave. At least, that's the list we've narrowed down to after starting with about 18-20 and eliminating from there.
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Replying to: bigbutr (Aug 16, 2008 2:05 pm) You should negotiate the price of your new vehicle first, then worry about payments or lease details. THEN see if you can get the same payment / price and get a dealer to pay your current lease off for you. Odds are good they will not. You can also take your current ride to places like Driver's Way and CarMax to see how much they will pay you for it. Don't tell them how much you owe, the buyout, or how many payment you have left - just get a quote from them and then you compare that to the current buy out price. If they would give you enough to pay off the Ody, just sell it to them and go get something new (if that is what you want). If the Ody is not worth the buy out price now, it will not be worth more at the end of lease - so there is no reason to get out of it early (no profit in it). Why not just turn it in at lease end and then get something new? AHFC has one of the best, if not the best, turn in policies in the biz - no fee and $500 per item and $1,500 total in forgiveness for dents, tears, tires, etc - it really is painless. Dennis |
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I have 9 months left on my H3 lease and am under my miles. I was wanting to buy a smaller car, and was wondering if I went with a GM car would they be willing to work with me on my lease without charging me the early termination fees? Or should I just wait till the end of my lease? What other options do I have? Thanks!
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Replying to: ddog171 (Aug 25, 2008 12:49 am) If you can, I would suggest you be patient and wait until your lease is up. |
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I am in major desperation to find the best solution to my problem. I am moving away from the country in October 08 and dont know what to do about my car lease. I leased an Audi A4 last september 07' on a 36 month lease. I still have about 24 months left. Will I end up paying the remaining 24 months even after turning the car in early? Is my best bet using swapalease or leasetraders? How effective and quick are they in getting someone to take over my lease. Would buying the car and trying to sell it to a used car dealership be something I should look into? Any suggestions..solutions to help would be highly highly appreciated. 
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I would try leasetraders or swaplease first. the fees are not outrageous and depending on how low the monthly payment is you may have some success in transferring the lease. I have had my car listed for about 4 weeks and have a registered buyer coming to look at it on Saturday.
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Replying to: a4vy (Aug 26, 2008 7:28 pm) Usually you can find someone to assume the lease if you sweeten the deal with cash. So instead of coughing up $5,000 if that's the short-fall of selling it outright, maybe someone will take $2,000 and assume the lease. Just depends on the situation. Let us know what you find out.
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Replying to: a4vy (Aug 26, 2008 7:28 pm) Personally, I would find out what you are in for the A4 to the leasing company and sell it on your own. make up the difference if the sale comes up short.
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Replying to: dtownfb (Aug 27, 2008 9:36 am)
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Replying to: sebring95 (Aug 27, 2008 7:55 am) Here is some info about my lease Audi A4 2.0T FWD Sedan 2008 Quartz Silver exterior Black leather interior Current mileage: 12,405 Lease miles: 15,000/yr Downpayment: $5500 36 Term lease 10/10/2007 ~ 10/10/2010 Monthly Payments: $395.62 I also was convinced to purchase the service contract for $590 which is included in the monthly payments. Payoff info: Residual Value: $18,924.00 Scheduled payments not yet due: $9,136.75 Rebate Unearned rent charge: -$2,231.35 ( I have no idea what this is) Total Amount: $ 25,859.55 My car was leased from Rusnak Audi in Pasadena, Ca. I talked to a salesperson from swapalease. They charges are between 500-1200 but he saids is a one time start up fee and that is all. Is it necessary to go through a company like swapalease or leasetrader to transfer my lease? Or can I post my own ads? Is $25,859.55 a good deal for my car? Would anyone buy it for that amount? Thank you so much!! |
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