I have a 991 with low miles, 4S, 2014, under warranty, etc.

I have about $20k due for the rest of the year on the lease. Yes I realize its a pricey lease!

Don't really need the car anymore due to another car coming into the family.

Any suggestions on what to do?

Thanks RL!

 

Check out Swapalease.com

 

if you lease another porsche, you can get rid of it 12 months early.

 

Give Carmax a try - I exited a Boxster S lease this way and was happy with it.

It costs you nothing but 30 minutes to get a buyout quote.

 

What's your lease payoff? You might be able to trade it in to a dealer for close to the payoff, and simply pay the difference. It obviously helps if you are trading it in for another vehicle. I recently traded in my wife's Audi Allroad with a year left on the lease for an Audi Q7. Audi paid off our Allroad lease in full because we were leasing another vehicle.

 

Or do a private sale and then buy out the lease?

 

Assuming lease is from PFS, not a good idea. His name will stay on the lease. Lessee cannot be removed.

 

This is probably the best option. If it is a PFS lease, as noted, you cannot be removed from liability so any swap deal is a very bad idea. Also, note in your lease paperwork that your lease payment is composed of a few parts. It has been a while but there is the monthly tax, a use fee, and an actual lease fee (or something to that effect). If you end a lease early you only pay the lease fee (months remaining times fee) and not the use or tax components. So, your $20K remaining may really be only about $12K or so.

It all depends on how much you actually owe and the residual. For example, I really wanted out of a lease a while back and had a low (compared to market value) residual so I lined up a buyer at the residual cost plus payoff amount and bought the car. As it worked out, the car was priced about $8K below market and I had about 10 offers in a couple days. I wasn't looking to make a profit, just move the car to make room for the next one.

Also, if it is a PFS lease they used to have an option when you called them to key in your lease number and they would tell you the actual payoff.

Best of luck!

 

The only option you have is to sell the car privately or to a dealer and hope that the sale price and the residual value are very close , so your loss is minimal

 

Did not know that , thanks!

 

Don't do anything until you send me the wing

 

If you want to get out of that lease, the first thing you need to do is remove those stickers...

 

+1

 

+2

And reason 37b not to lease a car.

 

Thanks guys for the ideas and input. Keeping the stickers on as long as possible