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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
No I didn't misunderstand you as much as I don't understand the rationale of terminating your lease early and taking a needless hit on trade inequity or by paying off the balance of the payments and not having the use of the car.The only situation where you are "upside down''on a lease is if you choose to terminate it early.So the queston becomes "why?"....are you already over mileage and driving what I try to jokingly refer to my customers as a "taxicab"the meter is running at anywhere from 15 to 20 cents a mile /per mile driven ? Has the car become grossly inappropriate for your needs,such as you just had twin babies and you ain't even going to attempt to get two car seats in the back of your Saab convertible? I don't get it ! Unless you have an overwhelming need to end the lease early,,just ride it out!The only time that the cars value in the market being below your lease residual matters is if you want to break the lease early.What was your need or reasons for doing this apparently on both a Chrysler and a Honda lease?
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Replying to: saablcp (Sep 17, 2008 11:26 am)
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Replying to: qbrozen (Sep 17, 2008 1:03 pm)
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Replying to: saablcp (Sep 20, 2008 8:56 am) Or how to express yourself in a clear and concise manner? If you'd like to try again, I am listening. I am always willing to help someone who at least attempts to help him or herself. If your "point" was to express that terminating a lease early when you are under miles is financially imprudent, its not much of a point at all.
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Replying to: qbrozen (Sep 22, 2008 6:47 am)
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Replying to: saablcp (Sep 22, 2008 9:51 am) Hear, hear! tidester, host SUVs and Smart Shopper
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Replying to: tidester (Sep 22, 2008 9:54 am) I'd still like to know what the "pro's" point was supposed to be. How can one end a discussion that never started? Ok. Wait. Let me try to back up here and possibly answer any unanswered questions because I hate having an unresolved conversation. Worth less because they made an improper market projection....no,thats why they buy residual value insurance. I don't understand your point. Yes, it was worth less because they made an improper market projection. The residual value insurance protects them, not me. And that's fine. However, when terminating early, it is worth what it is worth. What was your need or reasons for doing this apparently on both a Chrysler and a Honda lease? On the Chrysler, as I believe I stated, we were at the mileage limit. We were going to pay the per mile fee, but happened upon a great deal on a replacement vehicle, so that was that. As for the Honda, I had my own reasons for terminating early. None of which were financial or rational in any way. So, again, it has no bearing on the topic.
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Replying to: qbrozen (Sep 22, 2008 10:04 am) That would be the discussion questioning age and respect neither of which have much to do with lease termination fees. tidester, host SUVs and Smart Shopper |
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