05.16.06

Question of the Day - Need to get out of my lease!

Posted in Get out of a car lease, Transfer a car lease, Take over a car lease at 2:13 am by LeasingRus

Question: I still have 15 months left on my lease with the option to buy at the end of the lease. I would like to get out of the lease and trade out now and have found a dealer that is willing to pay the last 15 pmts, the over the mileage the disposition fee and early termination fee. However the lease company will not except that along with the auto they told me if I did the above that It would be like a voluntary repo and would go against my credit. What if anything can I do?

Answer: Dealing with leasing companies can be very confusing. Not everyone you talk to knows the policies of the company they are representing. Furthermore, some differences in state laws come into play. Still, we don’t know why your leasing company would not allow the trade that you have arranged. On the other hand, we don’t know why the dealer would agree to make the last 15 payments and pay the early termination fee. That’s a lot of money just to get you into a new car. Is it possible the dealer is telling you they will do this but they are saying something else to the leasing company?

May we suggest that you speak with a supervisor at the leasing company and verify exactly what it will take to get out of the lease. Get the supervisor’s name and number. Them talk with the dealer and confirm that this is exactly what the dealer is proposing. Or, you can try putting the remainder of your lease on AutoLeaseBusters (to get out of a lease), Lease Trader, Swap a lease, Lease Busters or others to see if someone else will make the remaining payments.

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