trlyka

I wanted to know if there was a way to get out of my lease. Personal things are happening and I may not be able to afford the current monthly lease payment I have now which is nearly $500/month.

I would even be willing to stay with Audi/VW, but for a lower monthly payment. As much as I don't want to, I may have to. Because I know I will need to downgrade to get a lower price.

Are there any circumstances that are acceptable in getting out of a lease? Or getting a different lease for less?

I obviously don't want to do a voluntary repossession/surrender. If the dealer won't work with me, then is my only other option to do a lease transfer?

I read about doing a rollover, but it also says the dealership includes your remaining lease obligation in the payments on the new lease. That just doesn't make sense

Thanks

fender4645

Lease's are pretty ironclad. The dealer is expecting x amount of money from you over the life of the lease and there's no incentive for them to give that up. The only thing I can think of seeing if you could do a buyout of the car and then turn around and sell it. Audi Financial's web site should give you the current buyout price. Then go and research what folks are paying/selling for your car with similar mileage. I highly doubt you have any equity in it but it may save you money over the long haul. The good thing is that used luxury cars are going for a premium right now so the loss may not be that bad.

trlyka

Ok, thanks for the info. I am hoping I don't have to buy/sell it, but I wanted to see the best course for me to take. I'll know more over the next month or so if I need to make any drastic changes. My lease is up Oct. 2013.

TheRebbie

If your lease is up in October and your payment is just under $500/month then the worst case in keeping the car is 5 months of payments or just under $2500. You say you'll know more in a month or so. That means the remaining payments might only total $1500. Given that October is not that far away, you might be able to find a dealer willing to do as you suggest and take the vehicle in trade for another with lower payments. That said, I'm not sure how much lower you could go without an up-front payment that is close to the cost of just finishing the existing lease.

snagitseven

His lease is up Oct 2013, not 2012.

bigdadi

You have 2 options

If you lease another Audi, say the current 2012 A4 at 349/mo, dealer will buy out your present lease and lease your a lower price one. I think VW is under same finance company so you can look into VW also. Below is a link re lease deals in your area.
http://www.autopromocenter.com/boston/car-lease/

Swap the lease by using this service, so someone will take over your lease. Some leasing company does not allow this, so check with Audi Finance first.
http://www.swapalease.com/

SFV A4

First off, sorry for your situation. It happens sometimes and it's wise of you to seek out your options.

Here are some ideas...

1) Try to extend your lease. Maybe with a longer term, the monthly payment could drop.

2) Also, try to renegotiate some of your lease terms. Maybe you can cut out some driving and get your annual mileage allotment reduced. This could lower your monthly payment.

3) Look into a credit union. Companies like Lockheed Financial Services offer very low rates. Maybe with a new loan through them, you could significantly reduce your monthly payment, while they end up paying off Audi.

4) Consider selling the car privately now. You will likely get more for it than what the dealer would offer. Then take that amount you get from the sale, pay off Audi, and you are free of your car payment.

Good luck and keep us posted!

trlyka

Thanks. I am in NJ, but I'm sure there are other places around that offer similar options. The swap lease is a good idea too. I'll look into both.

trlyka

HER lease....... but that's ok. I get that a lot on these forums

gunsmoker

It was obvious that you were pushing it when you bought the car, but you had to have that nav package! Best of luck anyway.