Hi there, Let me try to make things clear, my eng is not that good.
Long story short, me and my ex lease a car from Lexus. I was busy that time, my ex is in charge everything during the lease(she said she have a broker friend).
Everything goes smoothly until I get the title which is under her name.
I asked her about the title, her explanation is she have a better credit score and history. she put my name under her name, so that we can get a better deal.
After we broken up, she transferred car under my name.(I did a new insurance and state inspection and get new title under my name.)
Now, she is pushing me to buyout or end up lease early because she want to buy a real estate and this lease will make effect on her loan amount.
Is anyone have an issue like me? Is my ex true? I checked my credit report that I have a loan from Toyota.
Right now, my lease still have 15 terms going on, it will cost 8250. Her broker friend give me an offer for return the car by paying 12 terms which is 6600 and lease a new Lexus car.
Should I ignore her or any better solution? Anyone any ideas?
Until the lease is over or you physically buy out the car, there isn’t a way to get her name off the car. She signed the contract too.
The only possible way to get her off now would be to end early (since she’s co-signer, she’s then responsible (technically) for half the early return fees and remaining payments. The other would be to refinance the amount still owed under your name only, essentially purchasing the car from Lexus.
Correct me if I am mistaken but once you transfer a Toyota lease from TFS, the original leasee is not liable for any payments. Should that not make the loan go away from her credit? May be better if you call TFS
No problem! But as other members said, please don’t break lease like that. Well if she is willing to pay to break the lease, that is a different matter.
