Dealer Says No Early Termination Penalties

Ask the Hackrs
1

Hello,

I’ve only seen people with active leases addressing early termination on here, but I have an auto leasing company (Fairlease in DFW) saying that they do 60 month leases with no early termination fees. The agent texted me that “residuals are real, and there is no early termination fee. You can trade or sell your car at any time. We start calling our clients 2 years out and give them options to get out of their vehicle or try and lower their payments.”

I’m wondering if this is something I need to watch out for and if anyone else has a similar experience? I’m wondering if I’m going to get to reading the contract and see something like “only if your next lease is with us or if you payout the lease.” Any advise would be appreciated, thank you!

2

  1. who the leasing company is matters, so what’s the mystery make?

  2. don’t ever sign a 60 month lease, ever

5 Likes
3

Well, there’s this…

and

Why would a residual not be real, and why would they need to contact buyers to lower their payments???

Agree that it would be helpful for you to name the company… Although, based on what you’re saying, this place sounds totally shady, and I would run far, far away.

1 Like
4

Wouldn’t be D&M would it? :face_with_hand_over_mouth:

4 Likes
5

Exactly what i was thinking.

If so,

Will Smith Run GIF by MOODMAN

2 Likes
6

More like S&M, amirite?

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7

Fairlease is the name of the company

8

You need to run away, fast.

I Pity The Fool GIF by Oi

… who takes one of these.

9

Nothing they are saying is technically wrong, but it is all just sales tactics. Sure they will call you in 2 years and your balance will still be the RV plus the remaining 36 payments like any other lease. Maybe the car is upside down, maybe it isn’t. As they said, you have the option of selling it at any time like any other lease with the fine print of paying off any negative equity.

2 Likes
10

Don’t know enough about them to give an opinion but if they’re anything like D&M (BHPH with a nicer building) I’d keep away.

11

Get a copy of the lease contract, including any addendums, before you sign anything! You need to control the deal and not the other way around.

12

No worries I’m not the type to sign without reading, at least on a purchase this big. I’m also going to ask the agent if he can quote 3 years and see what the response is. If they can’t I’ll take everyone’s kind warnings and take my business elsewhere. If they can I’ll just be extra careful in reading the contract, but based on everyone’s speculation I’m thinking they’ll keep trying for that 60 months

13

What kind of car are you looking for?

14

Sounds like a good plan. GOOD LUCK!

15

They’re quoting a 2024 Jetta SEL. I’m looking for a sedan with ventilated front seats and modern tech/safety features (android auto, blind spot detection, forward collision assist, etc.)
P.S. Agent actually said he could run a quote for 36 months for me, so just waiting on him for numbers

16

JFC. What’s wrong with getting one of those directly from your friendly local VW store?

1 Like
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Nothing, I’m working with local dealers too. The dealers are quoting about $100-200 more right now though

18

Why don’t you approach the dealer with your target offer instead of asking them what they want you to pay?

19

What’s your budget?

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Trying to stay around $450, under $500 at max. Looking at most quotes looking like I need to revaluate the car choice and/or trim level