Quadcammer

this is a dangerous situation.

Lets say some guy takes the car, then stops sending the checks and disappears

Although you may have filled out a contract with the guy, you're still the one on the hook with porsche, and your credit might still take a beating.

be very careful about this.

Dave07997S

OH...

Although my baby is a she...and she loves when I rub those sensual curves in the rear area...

mickfluff

Buddy, ace the car, drive it spirited for its last journey to the dealer to pass in the keys and move on. Enroll in some realtionship counsiling at 75$/hr and the time you spent detailing and driving your car get a part time job so your condo isn't the next to go.

Dig yourself out of this mess you helped to create (gotta trake ownership) and yes loose the battle for the time being...... Re-group, work even harder (I am sure you work hard) then come back in a few years; 2, 3 or maybe it is 5 posting pics of your new 911 Turbo......and win the WAR!

Its a car, no one has cancer, no one has been in a life threatening accident or other....your not moving to tent city cause your being evicted. Thanks god its not that bad....Chaulk it up as a learning experience..... talk to some smart financial people abd figure the best way to move on from this and devise a nice solid 1,2 and 3 year plan to come back in a better place.

Do it with pride, head up, work through the issues and you'll be more prepared to deal with true "bad situations" later in life....this sucks and again I am sorry but worse things could be happening and are happening on this crazy planet of ours...

Best of luck and hope things work out for you....

Insane we are page on 8 here of replies.....

Whisper

In case, he would report it stolen, and it would be a matter for the police and the insurance company.

Rinty

Deanski:

Sorry to read about your situation, and I haven't read all of the previous posts.

My wife and I went through this in the early eighties, when interest rates skyrocketed, and the Canadian government of the day passed legislation that killed our energy industry, overnight.

It resulted in a huge lifestyle change, as we sold off toys and downscaled our lifestyle. But eventually the skies cleared, and we ended up in better circumstances than before. The experience also gave us an improved perspective of our ongoing financial circumstances.

Good luck to you.

Quadcammer

might be a touch tricky to explain why the guy has the keys, documentation, insurance for the car, etc.

Its just not a good idea without an official transfer.

John NY-Naples

I didn't take the OP's post to be advocating keeping the Porsche, while risking his relationship with his spouse or losing his home. The problem is just giving the car back to Porsche doesn't necessarily make economic sense, because PFS will rake him over the coals. If he can find someone to take over the lease payments, that would make the most economic sense.

Whisper

Yeah... it would be a great deal for that someone. $715 a month is ludicrous for this car. Problem is the logistics of of it all, since it would have to be off the books.

I keep feeling tempted to try to work something out, since I have the resources. But I remind myself that I am in California, and the complications involved would be overwhelming.

Surely there is *someone* closer to home who can help this guy out?

boolala

Just for the record it's not $715 a month. It is 715 + 2000/12 = $881, still a good buy IMO.

Whisper

Ah, yes, I didn't read the whole thread. Still, 2000 down and 715 a month is something I'd snap up in a second if I thought it could be worked. Don't see how, with him in CT and me in CA, though.

Surely someone on that coast still has a job and a love of Porsches?

Tinluver

+1

tooloud10

+2

RaceCarDriver

I think there may be an insurance issue for the person taking over the payments. Usually in the fine print of a car lease, only the Lessee and Lessee's spouse are allowed to drive the car.

In your example above, the person taking over the payments is not officially the Lessee.

This could cause a problem if the person taking over the payments gets into an accident or the car is stolen.

There is also usually something in the fine print about moving the car out of state without permission of the leasing company.

I've taken over someone elses lease before. it's best for the new person to officially be on the lease.

cy7878

Since we are talking money and leases, how much did yoiu have to put down initially to get the payment to be $715 with a $60k residual on a $125k car?

abe

just a thought.
abe