Looking to end my lease early as it no longer fits my needs (need more than 5 seats)! I have a 2018 GMC Terrain with approx. 15 months left on the lease and 14,100 miles on the odometer.
2018 GMC Terrain SLE FWD
Summit White exterior/Jet Black interior
Lease ends July 1, 2020
Payment is $159/month
15,000 mi/yr
16,900 miles remaining on lease (14,100/30,000 miles)
Located in Southeastern PA, about 40 minutes West of Philly
Lease includes GM’s ‘Damage Allowance’ Package, which allows up to $5,000 of damage charges to be waived at the end of the lease. Applicant must reside in PA and have good credit to pass the GM Financial evaluation. I did put $2900 down on this lease, and am looking for some of this from the person who assumes the lease, somewhere around $1500. Please message me if you are interested and leave questions below.
You could explain this and ask ppl for a screen shot of their FICO score, it wouldn’t be too much to ask if I was wanting to get a transfer. It’s a really good deal. Someone’s gotta jump on it, id reach as big of a market as possible.
FWIW, plenty of subprime people reading this forum
Thanks for the tip. I’ve been texting people all day and everyone is either no longer looking or not in PA, despite what the listing says. I’ll give it another 2 days and then I guess I’ll have to make some changes to it.
Ouch… You get squeezed on a 24 month lease with transfers, that’s for sure. Regardless that’s a great payment and it should move. I wonder if OP has checked with the usual services to see if someone will buy it out and cover their payoff if they can’t make a transfer work in time. Sounds like they got a good discount and there were a good deal of rebates to make a payment like that happen, even with the DAS.
I’m wondering if Vroom, Carvana, Etc might be able to get you out of it without having to transfer it. I don’t know your dealer payoff, zip code, VIN or other specifics, but Carvana for example offered me $17,240 for a 2018 Black FWD Terrain with 14,100 miles in the Doylestown PA zip code I used as a test run. Just a thought, might be an alternative if you can’t get someone appropriate to transfer it in time.
Low lease payment isn’t always because of high residual. There is also could be high discount combined with high rebates.
My brothers S60 had 43% RV with 36/15 lease. Yet have 20% off and another $9k rebate. So still had relative low payment.
So check RV for sure and see if it’s lower than buyout offers are. GM isn’t really known for stellar RVs:)
That’s the residual, or the dealer payoff quote? And what did you get offered for your VIN? It’s worth a shot checking it all out, but there’s gotta be someone out there willing to do the transfer given the current prices on these.