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Lease Termination Fees and other costs

1039 messages,  Last post on Dec 03, 2009 at 10:15 AM

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#887 of 1039 Re: Getting out of lease early [robger99] by a4vy Aug 27, 2008 (9:30 pm)
Replying to: robger99 (Aug 27, 2008 5:39 am) Did you go through swapalease or leasetrader? How much did you list your posting for? The swapalease person i talked to he said their prices range from 500-1200 and that i should do the 800 package?
#888 of 1039 Re: Best solutions in ending a lease early [a4vy] by sebring95 Aug 28, 2008 (4:38 am)
Replying to: a4vy (Aug 27, 2008 9:26 pm) Someone else will have to chime in on the price. At face value, I don't think $25.8k sounds like an overly attractive deal. However, the lease payment is in the ballpark to get folks interested. You may have to throw a little cash on the table if you want a quick deal either way.   I had no idea Swapalease charged so much for their services to "sellers". I've always been on the other end and I think I paid $50 for a lifetime membership. I'd probably recommend sticking an ad on Craigslist saying "4-sale or assume lease" and see what happens. You do NOT have to use swapalease or leasetrader to transfer a lease. And unless they've changed their services since the last time I assumd someone's lease (a couple years ago) they basically did nothing except put your ad online. They will only release your contact info to registered users, so it's a somewhat captive audience (serious buyers, so that's a plus). However, once I was put in touch with the seller, we had to take care of all the paperwork ourselves. Once you have a potential "assumer", you contact VW finance and they can start the paperwork for you. You basically have to file paperwork stating you agree to transfer the lease. The assumer has to file credit application and assumption documents with VW. Once everything is approved, you can hand over the keys. I think the quickest one I've done took two weeks and that was with Toyota finance. Replies to this message: a4vy (Aug 28, 2008 11:17 pm) sebring95 (Aug 29, 2008 4:27 am)
#889 of 1039 swaplease by robger99 Aug 28, 2008 (4:52 am)
Went through swaplease and basic ad was only $100.00 with single picture. Contact named Bill Bell. Had a second registered buyer contact me this am so hopefully will transfer the lease soon. Have it listed on craigs list for a month now and just one brief email contact that way-would say swaplease is more effective as you know peole are at least somewhat serious about your car if they pay to register.
#890 of 1039 Re: Best solutions in ending a lease early [a4vy] by volvomax Aug 28, 2008 (7:25 am)
Replying to: a4vy (Aug 27, 2008 9:26 pm) Wholesale on the car is prob $22-ish.   I'd get a buy bid from Rusnak and see what it would cost to just get out.
#891 of 1039 Re: Best solutions in ending a lease early [sebring95] by dtownfb Aug 28, 2008 (5:53 pm)
Replying to: sebring95 (Aug 27, 2008 11:15 am) Thanks for the explanation. sounds like he needs to check with Audi (VW) and make sure he can do a lease assumption. I still would sell and put up the extra cash. It seem slike it is going to cost him no matter what option he chooses.
#892 of 1039 Re: Best solutions in ending a lease early [sebring95] by a4vy Aug 28, 2008 (11:17 pm)
Replying to: sebring95 (Aug 28, 2008 4:38 am) Hi Sebring95,   thank you so much for your help. I had thought that i had to go through swapalease. Thank you. I'm not too sure what you mean by that i may need to throw a little cash on the table". If i put an ad for 395/mo lease, then it would be 0 downpayment right? Is that what you mean by throwing some cash into it? I'm sorry, my questions are probably retarded...this is the first car i ever bought or rather leased...had no idea that there was so much more then just buying a car. I should have done this much research before I got my audi. Are there any other sites that you would recommend to put ads or listing on?   So the actual paperwork after someone assumes my lease will take about two weeks? is there anything i can do to speed that up?   thanks......... Replies to this message: sebring95 (Aug 29, 2008 4:27 am)
#893 of 1039 Re: Best solutions in ending a lease early [a4vy] by sebring95 Aug 29, 2008 (4:27 am)
Replying to: a4vy (Aug 28, 2008 11:17 pm) When I say put some money on the table, I mean pay someone to assume your lease. There's a good chance it's going to cost you a few grand if you have to sell it outright based on the numbers volvomax threw out above. So maybe instead of a few grand, you offer someone $1,000-$1,500 to assume your lease. This makes for a much more attractive lease assumption and will move the vehicle quicker. The prior leases I have assumed all paid me something to sweeten the deal.   How quickly the paperwork can be completed really depends entirely on the leasing company. GM took almost a month before I received everything. Toyota was much quicker...about two weeks. If timing is a problem, you may just have to sell it and pay the difference. I'd say if you're in a hurry, a dealer or carmax may be your only choice to move it quickly.
#894 of 1039 Re: 2006 H3 Lease [ddog171] by bossman141 Sep 05, 2008 (12:13 pm)
Replying to: ddog171 (Aug 25, 2008 12:49 am) actually I had some recent experience with this. I had 8 payments left on my Pontiac G6 that was leased through GMAC. wanted to take advantage of the Employee Pricing. GMAC waived 2 payments through their "Pull Ahead" program and gave me an additional $2000.00 rebate if I financed the new vehicle (Vibe) instead of leasing it. Couldn't lease it anyway because there are no GMAC lease programs on it anymore.   Worked out well for me. The 2000 not only ate my leftover payments but I was left with around 700 toward the new vibe.   Hopes this helps Replies to this message: buyusmade (Sep 06, 2008 4:19 pm)
#895 of 1039 Exhorbitant lease termination charges - NEED HELP by buyusmade Sep 06, 2008 (4:11 pm)
I recently turned in a 2007 T&C lease and in its place leased a new Dodge Caravan. We signed the lease end papers for the T&C and turned over the title to Chrysler Financial through the dealer. This happened on 6/11/2008. But trouble started soon. Now I have received a lease termination charges of $5900 and Chrysler Financial is threatening if we don’t pay up with in ten days, this will be reported to credit bureaus and screw up my credit score . I have contacted BBB to delay them. But I am not sure what they are capable of. Any suggestions from the group will be appreciated very much reg. what my options are and/or how to handle this issue. Thanks, Replies to this message: qbrozen (Sep 08, 2008 7:58 am) volvomax (Sep 08, 2008 9:51 am)
#896 of 1039 Re: 2006 H3 Lease [bossman141] by buyusmade Sep 06, 2008 (4:19 pm)
Replying to: bossman141 (Sep 05, 2008 12:13 pm) Thanks for your reply. i will kepp this in mind before leasing my next vehicle. I wish I had discussed this before leasing. Now that the lease has already been finalized, I am not in a position to negotiate. Thus any pointers how I can handle my issue?

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