Looking for info for a possible early lease termination. Figure post it here since one of the Basil dealerships would have the car she wants.
My g/f has a 2013 Escape with little less than a year left on the lease. She HATES the car. Wondering if anything can be done to get here into a new car. She’s would like to get into a Explorer or a GMC Terrain.
Fire/theft?
lol
I talked with quite a few sales friends. Unless the lease is worth more than when she bought it she should ride the wave until it is up.
I’m going through a very similar situation. Our plan is to get out of the lease…return it or what not, then buy somewhere else.
Normally you can find 3-4 month pull aheads but a year is a long time
^Doesn’t that only work if you buy again from the same place you leased?
What if I leased a Focus from West Herr but want to buy a BMW from Towne?
Good question…I’m now curious…I would guess they would buy it out?
I’ll cut multiple fingers off before I ever lease again, I simply just drive too much. I got out of my VW from Volkswagen of Orchard Park after paying $2500 after 6 months like a “termination fee”…ya it sucked lol.
Never could get down with a lease. Good luck with it!
A dealership isnt supposed to buy leases out, they are supposed to go back to the leasing company.
That said, some will do it, but most will only consider it if you buy another car fron them. They also are unlikely to offer it as a first option since they can get in trouble for it.
Option 2 is sometimes you can get a 3 month pull ahead, but then you have to buy another.
Or just ride the thing out. It is a contract after all. That would be the smartest option.
So what does one do at the end of the lease to get out of having to buy another lease? Hand them the keys and bid them good day?
Pretty much. Your contract is up, you can do whatever you like at that point.
A) Pay the remaining payments
B)Use vehicle like a trade-in your vehicle has a buyout just like a loan
Ford currently is waiving leases that end APRIL-MAY-JUNE.
I would be happy to look at your particular situation and see what I can do to help.
Please PM or call me at Basil Ford 716-893-1000
-Chuck Basil JR
At the end of the lease, if you do not wish to lease another car, you turn in the keys at the dealership, pay for any owed fees and leave.
He is not at the end of the lease. He said he has almost a year to go.
To turn his lease in he would have to pay the remaining payments as per the lease contract. In his case, probably close to $3,000.
Are your payments attractive? If so, you can throw it up on swapalease.com or leasetrader.com and see if you get any bites. I had a great experience taking over a lease on leasetrader.
Not true. Leases have buyouts and the car has a value. Any dealer could buyout the lease/treat like a trade and get him into another car.
Yes. Most people forget at the end of the lease there is still money “owed” if you decide not to roll it into another lease. It’s a perpetual machine to keep you living in a lease, IMO. I’m sure there is value in that but if you grow out of a certain brand it hard to break out.
If at the end of your lease you decide not to continue business with the dealer you leased from it sounds like your only options are to BUY the leased car and now own it. Or, pay off X amount and return the car. Both options leave either with a car you don’t want or car-less.
I guess if you decided to BUY the car and use it as a trade in for your next car that would be worth it as long as the trade in value is more than the buyout…am I screwing this up in my head? Does this make any sense or have any truth to it?
I think that is what Chuck is saying…if so, got any ~ 2008 Audi A4 Wagons in stock?
I’ll have her check on the buyout amount. Maybe tomorrow I’ll take her shopping just to see what her options would be.
That probably depends on your contract. The only fee I paid when I turned my car in was for damage and mismatched tires.
The problem with the lease is that you owe them the payments, plus you owe them the agreed upon residual value of the car - those two numbers = buyout cost
which almost always exceeds the trade in value of the car.