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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
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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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Replying to: psumommyof2 (May 07, 2009 11:20 am) There is always a way to justify switching NOW. For instance, how much are the miles costing you right now? Say, for instance, you have a $400 payment plus $200 in excess miles each month. That's like having a $600 payment. In which case, depending on what you are looking to get into, rolling the remaining $1600 might not seem like such a bad idea. If you wait, you are still paying $1600 PLUS another $800 in miles. Of course, there are huge holes in this argument. It just depends on how much you want to convince yourself. 
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2007 Dodge Charger R/T 469/month I could use some advice. I'm currently 6,000 miles over my lease and have five months left.Obviously I would like to turn the car in early but no dealer will 'eat any of my payments. Is it worth it to just pay the overage at the end of the lease or try to turn the car in early? I think I will owe about 2400 in overage. I was thinking about waiting until I had two payments left and just roll the final 1,000 of payments into my new lease. I would save about 400 but would still have the extra 1,000 on my new lease. The is my 1st lease and I made the mistake of not getting enough miles... I also have a minor dent and my drivers side key entry is damaged from someone trying to break into the car. Should I try to get this fixed thru insurance(500 deductible) and will they really hammer me when I turn this bad boy in? |
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