Get out of Lease options?
06-02-2012, 04:03 AM
#11
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For NY/NJ Lease, just click the NY/NJ button on top of page
http://www.autopromocenter.com/newyork/car-lease/
For under $300/mo, you can lease a new
Impreza WRX
Nissan 370Z
Infiniti G37
VW Tiguan
For under $300/mo, you can lease a new
Impreza WRX
Nissan 370Z
Infiniti G37
VW Tiguan
Last edited by bigdadi; 06-02-2012 at 04:09 AM.
06-02-2012, 09:03 AM
#12
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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!
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!
Option 1.... Not a bad idea....I would hate to give it up. I just wonder what my costs will be with a 5 year lease and a 5 year loan after
Option 2.... I think I already have the lowest mileage. 10k. Any other terms that can be negotiated?
Option 3..... I do have Affinity. I don't even know what the loan rates are at for cars now. Around 4-5% I think. I would assume even a loan doesn't save me any money. I got such a great deal on the '08 after the lease, so it was worth buying. My buy out at lease end is $22,907.50. I think it would cost me over $42k if I financed for 5 years after the lease. UGH. Depending on the rate, a 5 year loan will still be well over $400/mo.
Option 4.....Am I allowed to sell a car that I'm leasing? I didn't know that was an option. I guess it's similar to me buying it from the dealer now before the lease is up? I would have to find out what the dealer wants for it and then hope to sell it for that.
Thanks for the ideas. I hope to figure out a reasonable option.
06-02-2012, 09:05 AM
#13
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06-02-2012, 07:34 PM
#15
You cannot sell a car you are leasing. You don't own it. You can buy out the lease, then buy the car, but I doubt you would have any equity to make a profit.
I wish they would call a lease by its proper name: (f)lease. At the end of the lease you are about $ 5,000 behind where you would be if you simply bought the car and sold it at the end of the equal lease period.
I am not sure why you guys do it.
I wish they would call a lease by its proper name: (f)lease. At the end of the lease you are about $ 5,000 behind where you would be if you simply bought the car and sold it at the end of the equal lease period.
I am not sure why you guys do it.
06-02-2012, 07:43 PM
#16
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You cannot sell a car you are leasing. You don't own it. You can buy out the lease, then buy the car, but I doubt you would have any equity to make a profit.
I wish they would call a lease by its proper name: (f)lease. At the end of the lease you are about $ 5,000 behind where you would be if you simply bought the car and sold it at the end of the equal lease period.
I am not sure why you guys do it.
I wish they would call a lease by its proper name: (f)lease. At the end of the lease you are about $ 5,000 behind where you would be if you simply bought the car and sold it at the end of the equal lease period.
I am not sure why you guys do it.
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