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Smart Shopper 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
Does swap lease really work? They do charge higher ammount for advertisement. Is it worth the money to advertise? What are the stats  for successful swaplease thought this route?
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Replying to: buyusmade (Sep 06, 2008 4:11 pm) |
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Replying to: buyusmade (Sep 06, 2008 4:11 pm) |
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Before leasing, check out any credit unions you belong to. When I leased a 2006 Avalon, the rate was very competitive, all the paperwork was by fax and mail, when my company bought it out early the deal was clean with no additonal fees and I saved money on sales taxes. The credit union officer told me that as a non-profit, they were exempt from the state sales tax and I saved the 3% VA sales tax on the purchase/lease. |
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| I have a extended lease that was terminated 8 months early with 77,500 miles. The total mileage limitation was 82,500, but the lessor charged an excess mileage fee of $780. Even though the limition was not exceeded, there still was an excess mileage charge. It appears the mileage was pro rated resulting in a excess mileage fee on termination. Is it typical for lessors to charge for excess mileage even though the excess mileage limitation has not been exceeded on early termination by pro rating the actual mileage? | |
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Replying to: jmp7882 (Sep 15, 2008 7:49 am) Here is their post. |
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Replying to: jmp7882 (Sep 15, 2008 7:49 am) tidester, host SUVs and Smart Shopper |
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Replying to: tidester (Sep 15, 2008 8:39 am)
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Replying to: jmp7882 (Sep 15, 2008 8:52 am)  One would think that the fair market value at lease termination would include the vehicle's actual mileage though it's possible the lessor has separated the two. Your contract should spell out the details. Perhaps someone with experience would care to jump in here? tidester, host SUVs and Smart Shopper |
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Replying to: tidester (Sep 15, 2008 8:39 am) Essentially, you are doing THEM a favor. Option A is you drive 60k miles in 5 years, making all payments over 5 years, and turn the car in. They have a 5-year-old, 60k-mile car. Option B is you drive 60k miles in 4 years, making all 5 years of payments, and turn the car in. They have a 4-year-old, 60k-mile car. Which one do you think is worth more? Option B, of course.
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