PUZZ1

Has anyone successfully terminated a lease. Looking to get out of two leases (2003 Audi A4 and 2002 Boxster S) and into a Cayenne S. Any advice as to how this might be accomplished or even better, first hand experiences from those who may structured a deal like this. How accomodating are dealers on this.

mudman2

I have never gotten off lightly when I have tried to do this is in the past, but I did come across an interesting site, www.swapalease.com, might help.

Harbormaster

I am sorry to tell you that you are going to find terminating a lease early is a VERY costly business.

dfar

I agree with Harbormaster completely. Some companies will let you out early providing you are within a few months of the terms end and you want another car of thier make. That's one drawback on leasing, you better love the car you leased.

The other alt. is to find someone willing to buy out your lease.

jhunt@huntinter

I had a truck leased through Key Bank. Asked about getting out early and they said sure, so long as I paid all the remaining payments... and the difference between the residual (which was way over the value of the truck) and what they happpened to sell it for at wholesale.

Once I got within three months of the termination date they let me just make the last couple of payments then picked it up. I will never lease another vehicle again.

John

Cupcar#12

Porsche is really tough to get out of unless you trade it in on another leased porsche.
they will let you give the lease away but you remain on the note - not for the faint hearted IMHO. since you loose any cap reduction and basically agree to take over the lease if the other person defaults, oh and they can come after you for any end of lease charges as well.
I ended up loosing a lot on my Boxster lease
no more leasing for me ever.
that and i just paid off the car i replaced it with (a 2003 VC70 - laugh away ) after 13 months.

DanP

You would need to basically treat it as a payoff - call the leasing co's and ask for the buy amount (unless you are less than 12 months away from termination) and negotiate as if you were trading anything else in with a given payoff.

I do it all the time and its usually not pretty. But if you negotiate right and account for the difference of what leasing saved you vs. buying at a reasonable finance rate, then it may not be as devastating as some say...

But yes, no doubt, you will lose $$. It is just a question of whether the $$ are disposable enough to warrant the joy of the new vehicle, and only you know that answer. It's all relative.