Just wish to know more on the subject if we are not rolling the penalties in a new lease. I had known that we would have to pay the left over lease payments and the ETF (learnt it ranges $200-500) but there may be other costs. (Considering a scenario where we may have to get out of the lease relativ…

[image] leasedrive: For 3, say Carmax would it fetch me a decent value vs auction price. I am assuming yes but any experiences Normally, yes. Right now? I wouldn’t expect much from CarMax/carvana/etc

Thanks. I would have the contract to read through but thinking here about putting all the effort of getting a lease deal and what if breaking it early which is a possible requirement would be the worst thing ever. Do the leasing company really hit hard for the 2nd option? How about Hyundai? I have…

Only a few banks/lessors let you completely swap out of an existing lease with them. You will get financially destroyed if they charge you the difference between current payoff (not RV) and wholesale auction value (which is tanking)

[image] leasedrive: How about Hyundai? I have learnt they don’t allow transfers? Some questions are easily searchable. Don’t treat this forum as a lazy substitute to Google

If you’re on the West Coast, tred.com is an option too. I sold my Alfa Giulia lease 10 months in (36/10) to a private buyer and broke even (including $350 seller fee), although I did put $500 down (not sure why :smile:) that I obviously had to wave buh-bye to. TRED is a licensed online dealer, so th…

Thanks. In the northeast right now

I didn’t understand the second point. Current payoff = selling price - lease payments made I assume. You are correct this would be destroying. I’m new to leasing but is this a common practice I googled but didn’t find much about this or exact terms of any company. May have to reach out to them or w…

[image] leasedrive: Sell it: Just take it to carmax or get cavana/vroom to do their magic. May be we would break even As a matter of fact [image] The Corona Virus - Negative Equity - Superfund Thread Off-Ramp Either for catharsis or posterity to future generations…

Looks like it is better to let it go through the term and then give it back on the date. Even if you have to let it sit in a storage somewhere.

If you truly are not going to use the car at all, make sure you also consider the costs of registration and insurance (if it is going to just sit), versus whatever it costs to get out of the car now.

Early lease termination - Leasing knowledge

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jeisensc May 23, 2020, 11:04pm 9

As a matter of fact

IMO don’t waste your time.