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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
I was just wondering if anyone knew anything about terminating a lease with Chrysler Financial early. I've been trying to research the topic and some websites and forums are saying that they'll waive three months payments and the early termination fee and that they no longer offer leases through Chrysler Financial. Well this is my situation. I leased a Chrysler 300 in 2006 for a 39 month lease. It's $450 a month. A lot, I know. I put nothing down and had to get the leather, made it 15,000 miles a year instead of 12,000 and then upgraded grill for the car. I was 18 and didn't know any better. Anyways, since I signed the contract; I took responsibility and have been paying it on time for the past two and a half years. The mileage is fine. I have not gone over. It's at 43,000 miles right now but I will stop driving it as soon as it reaches 44,500 miles because I already have another car that is paid off and can drive till I can turn this one back in. It is a great time to buy a house and since that is a big car payment, that would qualify me for less on a home loan. I am planning on buying a house around August. If it is in fact true that there is no early termination fee and they will waive three months payments. Then I will be set. I called Chrysler financial and they are telling me that there still is a early termination fee and the current payoff quote and that is all the information they can give me. They said I can wait until August when they contact me and make me an offer to either end the lease and turn it in or buy it. I just want to find out about the early termination fee and the three months waived. Just so I can be prepared by August. So I know how much money I will need and if indeed I can turn it in early with no early termination fee and the last three months waived. Or if I choose to turn it in early and they will not waive the last three months and the early termination fee. Then I guess I will just have to pay it to get out of the lease. Also, if I do choose to end my lease three months early. Does anyone know if that will be bad for my credit? I mean, I will be paying them the whole amount I owe them. Whatever that amount is. If anyone has any information that could help me out. That would be great. Thanks!
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Replying to: jessiekha (Mar 30, 2009 12:43 am) When I ended mine, I did not have any early termination fee. Just had to pay remaining payments plus the turn-in fee. Your problem, of course, is that you have 9 months left and only 2k miles to go. Not a good situation. |
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 I leasing a 2007 mazda 3 and my lease is ending a two months. I called mazda credit and asked if I could keep my car at the end of lease and finance it. They informed me that my lease contract had no such option. I have to go back to dealer for that. Does that make any sense??????? Has anyone ever heard of this?????I certainly never have. Please inform me on what to do cuz I know if I go to dealer, they are gonna scam me somehow on top of all the mileage fees, tires, and other things.
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Replying to: zeeman1229 (Apr 09, 2009 9:34 am) You do have to go to your dealer to buy out the lease. |
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Hi everyone.... I could really use some guidance here. I have a 2007 Lexus RX350 whose lease will expire next month. I was just involved in a fairly significant car accident last month, and although my car was fixed, it did sustain rear-end frame damage. I have very low miles, and there is absolutely nothing else wrong with the car. Does anyone have ANY idea how much Lexus is going to hit me for "excess wear and tear" due to the frame damage? I am really stressing out about this. I appreciate any feedback. Thanks
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Replying to: beau516 (May 02, 2009 2:35 pm) tidester, host SUVs and Smart Shopper
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Replying to: tidester (May 02, 2009 7:30 pm) So, do you think I won't get dinged too badly?
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Replying to: beau516 (May 03, 2009 7:09 am) Lease companies don't get to collect on "diminished value", because one of their vehicles has been in an accident. As long as it was properly repaired, then you turn in the keys and go your merry way. One of the advantages of leasing.. 
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Replying to: kyfdx (May 03, 2009 8:17 am) You have taken a HUGE burden off of me. I did also call Lexus (anonymously) and asked them the same question, and they basically confirmed what you said. Thanks so much. |
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Replying to: qbrozen (Mar 13, 2009 8:47 am) I think with being so close to the end, I’m getting antsy to get into something new, but also trying to test my patience so I don’t roll payments into my next purchase.
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