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Smart Shopper Lease Termination Fees and other costs
1039 messages, Last post on Dec 03, 2009 at 10:15 AM
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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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Replying to: JayManCpa (May 14, 2009 6:14 pm) You will be charged for any damage to the car,so you might want to get that fixed prior to turn in.
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Replying to: volvomax (May 15, 2009 7:58 am) I know 400 to save 1,000 does not make sense. But the 1,000 is spread out over 39 mos. If the new lease payments fit into my budget it might make sense.
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Replying to: JayManCpa (May 14, 2009 6:14 pm) Before you lease another vehicle, ask yourself should you be leasing a vehicle? The low payment may be nice but the situation you are in now tells me that maybe buying is the better option for you. |
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Replying to: JayManCpa (May 15, 2009 10:05 am) Getting an estimate is a very good idea. |
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Help!!! We are at the end of a 5 year lease on a Chrysler Pacifica(would never do it again). The leasing company's inspector gave the car raving reviews and recommended no penalty charges for wear and tear. Now with 2 weeks before turn in we received a letter advising that we should buy the car to avoid a charge we will be responsible for regarding alleged "frame damage". The car was in an accident where the rear quarter panel was replaced. The repairing dealer stated that there was "no frame damage". Leasing company is claiming quarter panel replacement, which is immaculate, from factory and unable to detect by looking at it, substantially diminishes the cars value and we will be responsible for the difference between market value and what they sell it for. What can we do? Lease states "I also recognize that if the vehicle has suffered frame damage or substantial other damage, even though the damage may have been repaired, the value of the vehicle will be substantially less than the value of an identical vehicle which has not had frame damage or suffered other damage." Any assistance would be greatly appreciated. Thank you! |
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