Breaking Car Lease

Discuss your favorite music, TV shows & movies, cars and sports here.
Post Reply
User avatar
zepp21
Posts: 5131
Joined: Mon Feb 07, 2011 12:09 pm
Name: Alex
Location: Pennsylvania

Breaking Car Lease

Post by zepp21 » Sat Jan 05, 2019 10:15 pm

Anyone know if it is possible to get out of a car lease? Quick version: Leased the Alfa Romeo and while I like it, I'm just not happy in a SUV. With 30 months left am I SOL to get out of the lease and into a truck or is there a feasible way? Obviously not looking to hurt my credit, or have to pay enormous fees. Thanks guys!

Sent from my Pixel 3 using Tapatalk


User avatar
zepp21
Posts: 5131
Joined: Mon Feb 07, 2011 12:09 pm
Name: Alex
Location: Pennsylvania

Re: Breaking Car Lease

Post by zepp21 » Sat Jan 05, 2019 10:18 pm

Oh and I would be looking at a Ram so staying within the same dealership and corporate umbrella...if that helps.

Sent from my Pixel 3 using Tapatalk


User avatar
r.palace
Posts: 8301
Joined: Tue Aug 13, 2013 10:36 pm
Location: Tray-O-Five

Re: Breaking Car Lease

Post by r.palace » Sat Jan 05, 2019 10:40 pm

You can “get out of a lease” but they’ll just roll your current monthly payments into the new lease either way. No way a car company is going to “eat” (as they call it) 30 or so payments

ETFs (early termination fees) vary by company and leasing programs whether favorable or not depend on the vehicle so some vehicles are more “forgiveable” than others when talking about early termination

Best bet is to ask directly what you’d owe and what your options are
ImageImage
Many will register, few will last :htfu:

User avatar
hoppyjr
HJ
Posts: 39668
Joined: Thu Feb 24, 2011 9:05 am
Name: Hoppy

Re: Breaking Car Lease

Post by hoppyjr » Sat Jan 05, 2019 10:51 pm

I noticed the Alfa’s had some solid lease deals last year, so if you got in on that you may be ok.

I believe you can let someone take over the lease, but they have to qualify. Your specific lease lender will need to tell you if yours can be handled this way.

Also, there is a website called Swapalease and it’s designed for this type of situation.


User avatar
TLgdeL
Posts: 3690
Joined: Tue Jan 05, 2010 7:32 pm
Name: Gee Deez
Location: MD

Re: Breaking Car Lease

Post by TLgdeL » Sun Jan 06, 2019 5:36 am

hoppyjr wrote:
Sat Jan 05, 2019 10:51 pm
I noticed the Alfa’s had some solid lease deals last year, so if you got in on that you may be ok.

I believe you can let someone take over the lease, but they have to qualify. Your specific lease lender will need to tell you if yours can be handled this way.

Also, there is a website called Swapalease and it’s designed for this type of situation.
Can always try Carmax or other dealer to sell the car. They pay the leasing company, and you get a check if you are not upside down, or you pay the difference.
Image Image

User avatar
Panerai7
Posts: 16728
Joined: Mon Mar 11, 2013 8:09 pm
Name: Art
Location: North Carolina

Re: Breaking Car Lease

Post by Panerai7 » Sun Jan 06, 2019 7:03 am

Swaplease

User avatar
zepp21
Posts: 5131
Joined: Mon Feb 07, 2011 12:09 pm
Name: Alex
Location: Pennsylvania

Re: Breaking Car Lease

Post by zepp21 » Sun Jan 06, 2019 5:40 pm

r.palace wrote:You can “get out of a lease” but they’ll just roll your current monthly payments into the new lease either way. No way a car company is going to “eat” (as they call it) 30 or so payments

ETFs (early termination fees) vary by company and leasing programs whether favorable or not depend on the vehicle so some vehicles are more “forgiveable” than others when talking about early termination

Best bet is to ask directly what you’d owe and what your options are
Do you call the leasing company or dealership?

Sent from my Pixel 3 using Tapatalk


User avatar
r.palace
Posts: 8301
Joined: Tue Aug 13, 2013 10:36 pm
Location: Tray-O-Five

Breaking Car Lease

Post by r.palace » Sun Jan 06, 2019 5:42 pm

zepp21 wrote:
r.palace wrote:You can “get out of a lease” but they’ll just roll your current monthly payments into the new lease either way. No way a car company is going to “eat” (as they call it) 30 or so payments

ETFs (early termination fees) vary by company and leasing programs whether favorable or not depend on the vehicle so some vehicles are more “forgiveable” than others when talking about early termination

Best bet is to ask directly what you’d owe and what your options are
Do you call the leasing company or dealership?

Sent from my Pixel 3 using Tapatalk
Leasing company. Dealership may or may not give you a concrete answer.

I’d rather call Rolex directly than deal with the AD Image
ImageImage
Many will register, few will last :htfu:

User avatar
zepp21
Posts: 5131
Joined: Mon Feb 07, 2011 12:09 pm
Name: Alex
Location: Pennsylvania

Re: Breaking Car Lease

Post by zepp21 » Mon Jan 07, 2019 12:42 pm

So I called the leasing company. They told me to call the dealership to get my answers of options beyond just a payout of 13k. Basically I'm thinking at this point, SOL so better to stop thinking and just drive the vehicle.

Sent from my Pixel 3 using Tapatalk


User avatar
nweash
Posts: 4800
Joined: Tue Jul 22, 2014 9:52 pm
Name: Nick
Location: High Hill, CA

Re: Breaking Car Lease

Post by nweash » Mon Jan 07, 2019 12:49 pm

I swapped cars 2 years into my 3 year Lexus lease. I did it all through the dealer. They made it seem like it wasn’t a big deal.

I wasn’t charged any fees or anything. I just noticed later my credit score was dinged 50 points from closing out the loan I guess.

User avatar
r.palace
Posts: 8301
Joined: Tue Aug 13, 2013 10:36 pm
Location: Tray-O-Five

Re: Breaking Car Lease

Post by r.palace » Mon Jan 07, 2019 1:02 pm

zepp21 wrote:So I called the leasing company. They told me to call the dealership to get my answers of options beyond just a payout of 13k. Basically I'm thinking at this point, SOL so better to stop thinking and just drive the vehicle.

Sent from my Pixel 3 using Tapatalk
Hmm. Guess it varies by company. Honda/Acura insisted I call the leasing company.

Swapalease would be an option if your contract allows it
ImageImage
Many will register, few will last :htfu:

shaneotool
Posts: 498
Joined: Tue May 03, 2016 1:57 pm
Name: Paul
Location: Arkansas

Re: Breaking Car Lease

Post by shaneotool » Tue Jan 15, 2019 12:40 pm

zepp21 wrote:
Sat Jan 05, 2019 10:18 pm
Oh and I would be looking at a Ram so staying within the same dealership and corporate umbrella...if that helps.

Sent from my Pixel 3 using Tapatalk
I don't know about the lease - but those new Ram trucks are sweet. I test drove one a couple of months ago and almost bought it.

User avatar
zepp21
Posts: 5131
Joined: Mon Feb 07, 2011 12:09 pm
Name: Alex
Location: Pennsylvania

Re: Breaking Car Lease

Post by zepp21 » Tue Jan 15, 2019 2:18 pm

shaneotool wrote:
zepp21 wrote:
Sat Jan 05, 2019 10:18 pm
Oh and I would be looking at a Ram so staying within the same dealership and corporate umbrella...if that helps.

Sent from my Pixel 3 using Tapatalk
I don't know about the lease - but those new Ram trucks are sweet. I test drove one a couple of months ago and almost bought it.
Stop it. It isn't doable with swapping unless I flat out use a service like swapalease

Sent from my Pixel 3 using Tapatalk


Post Reply

Who is online

Users browsing this forum: Seth and 29 guests