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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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#958 of 1038 by houston_man Jan 31, 2009 (4:03 am)
Re: Post#957   Thanks for the well thought out reply...............exactly what I was looking for. Fortunately, leases are a writeoff for me, but I can tell you from this experience that Toyota Highlander's do not lease well. Lesson learned on my part..... Replies to this message: sebring95 (Jan 31, 2009 4:49 am)
#959 of 1038 Re: [houston_man] by sebring95 Jan 31, 2009 (4:49 am)
Replying to: houston_man (Jan 31, 2009 4:03 am) I won't go into my long list of loathing leases for the general public. I'm a CPA and even if you can write-off the payment, it's still very hard to make a good financial case for it. Taking all factors into consideration...present value of cash, investing saved capital, tax deduction, etc. I've generally found you have to be buying a vehicle worth over $40,000 to even come close. But that's for another discussion. Nothing SUV/Truckish leases well at the moment. Most are currently underwater so the folks like me don't have any good deals to pick from on the lease assumption front. Future lease deals are going to be slim and none as captive financing and banks have taken a beating on the current stock. Many are getting out of it completely and the one's that aren't are making sure they're not going to lose money in the future.
#960 of 1038 Help with Getting out of a very! new lease by musthavemy350z Feb 08, 2009 (9:31 pm)
Hello, This is my first post and I hope it doesnt sound stupid..well maybe it kind of is but anyway here is my question. I just leased a 2009 accord LXP from a local honda about a week ago. It has maybe 150 miles on it right now. I do not want this car anymore I have a nissan 350z I have been trying to get for 6 months but could not get the payment I was looking for. So of course 2 days after I lease a new Honda the Nissan guy calls and is ready to deal. My bad for not waiting more than 6 months but any advice on how to get out of this lease would be helpful. Should I try and sell the car to a private owner? Beg the dealer to take it back LOL I must have this car it is a sweet 350z nismo jet black awesome car! I wish I knew how to attach pics I would show you what I mean, oh and for more information this accord is the 9th car in a row my wife and I have leased from the same Honda dealer. Thank you Replies to this message: sebring95 (Feb 09, 2009 5:15 am) qbrozen (Feb 09, 2009 8:27 am)
#961 of 1038 Re: Help with Getting out of a very! new lease [musthavemy350z] by sebring95 Feb 09, 2009 (5:15 am)
Replying to: musthavemy350z (Feb 08, 2009 9:31 pm) No need for pics.....the emotional part will not change the facts of the situation. It certainly wouldn't hurt to beg and plead at the dealer, that would probably be my first shot. Did you put anything down on the Accord lease? The other option is to see if you can find someone to assume the lease. However, I have heard (never confirmed) that Honda does not allow for lease transfers. That leaves selling as the final option, but I imagine that will be quite expensive. Someone is going to want a good deal sweetner to pickup a "used" Accord.
#962 of 1038 Re: Help with Getting out of a very! new lease [musthavemy350z] by qbrozen Feb 09, 2009 (8:27 am)
Replying to: musthavemy350z (Feb 08, 2009 9:31 pm) what sebring has heard is correct. Honda does not allow lease transfers UNLESS under special circumstances, such as death. And it would need to be proven.   You are stuck unless you want to cough up a large amount of dough, which would be much more expensive than if you had just gone with the higher payment to begin with.
#963 of 1038 End of lease - Turning in C-class by nicos Feb 23, 2009 (9:55 am)
Hi all, I am going to turn in my C-class (2006) after the 36 month lease is up. There are some scratches here and there. How is their policy with paying for damage when turning in the car? How do I find out I have to pay for some damage? I would like to get my costs to a minimum, so if I can have it fixed (paint job or whatever) and save some instead of paying a lot after turning in, I would do it.    Hope you can help me out with these questions! Thanks a lot. Replies to this message: volvomax (Feb 24, 2009 9:28 am) nicos (Feb 24, 2009 9:36 am)
#964 of 1038 Re: End of lease - Turning in C-class [nicos] by volvomax Feb 24, 2009 (9:28 am)
Replying to: nicos (Feb 23, 2009 9:55 am) most lenders have pre-term inspections. I'd call your lease co and find out if they do. That way, you would know what your liability is prior to returning the car. Replies to this message: nicos (Feb 24, 2009 9:36 am)
#965 of 1038 Re: End of lease - Turning in C-class [volvomax] by nicos Feb 24, 2009 (9:36 am)
Replying to: volvomax (Feb 24, 2009 9:28 am) Good point, I will do just that.   Thanks for your help!
#966 of 1038 Make Payments on Lease Return by nbennett88 Feb 25, 2009 (11:23 am)
Replying to: houston_man (Jan 30, 2009 2:06 pm) Here's the situation: I have a leased truck that is 50% through its lease but only has 1500 miles left on the lease. I need to return it instead of it sitting around for a year and a half. The payoff is around $4000 if I return it before March 19th.   My question is this: If I return it, do I have to make the $4000 payment in one lump sum or can it be paid monthly? Anyone have any idea? Replies to this message: volvomax (Feb 25, 2009 2:41 pm)
#967 of 1038 Re: Make Payments on Lease Return [nbennett88] by volvomax Feb 25, 2009 (2:41 pm)
Replying to: nbennett88 (Feb 25, 2009 11:23 am) Lump sum.

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