Return lease 2.5 months prior to ending

Ask the Hackrs
1

I have a 2023 Mazda cx9 GT lease that’s ending in 2.5 months. Is there anyway for me to return it ahead of time without paying the last 2.5 months?

I’m based on MI, dealer isn’t being helpful. I tried calling MSF and the say to talk to to dealer. I’m not interested in a new Mazda lease.

Thanks!

2

Talk to a dealer about SELLING the lease early. (Yes it is a thing) However, go to Carvana and Carmax (Don’t say its a lease) to get it’s current value.

compare the value to the Buyout amount (Ask MSF for this number) and if it is less than Buyout, then just pay the 2.5 months and walk way.

3

I kind of did that. The “issue” is that I got a fit lease so the RV is really high (78%) so whatever I got from Carvana doesn’t cover the RV.

4

I don’t know what a ‘Fit Lease’ is, but then either ride it out or pay the missing months and turn it in early (With an inspection)

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5

About the only thing you can do is see if another dealer will take the car in trade with no negative equity, i.e buy you out of the lease at the current payoff value. Mazda may not allow third party buyouts, which is maybe why they said to talk with a dealer. Carvana not giving you close to your payoff is probably an indication you are underwater on the trade.

6

All the bad advice, all at once.

  1. Roll the remaining payments into your next lease or loan.
  2. List it on Turo and try to rent it for more than your payment
  3. Find an uber driver and do a private sublet. (or, become said uber driver)
  4. Put the remaining payments on a credit card, get rewards, deal with it later.
  5. Find a snowy offramp or maybe checkout those Canadian ice roads.
  6. Park it, unlocked, in a bad neighborhood in Detroit.
  7. Declare bankruptcy and/or flee the country.

Or, honor the remaining binding obligations in your lease agreement.

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8

You may have equity, or just pay the remaining months and the termination fee and walk away. 2-3 months of payments and the termination fee assuming no major damage etc shouldn’t run you that bad. Don’t roll anything over into a new lease it’s just kicking a can down the road.