I am sure many will be in a similar situation like me. Have a mercedes and hyundai lease. With WFH and self isolation, we will no way reach the 30K limit. Probably around 15-16K
Can we expect manufacturers/financial services to come up with some kind of credit or pay back since the car value should be reasonably higher. I understand the answer might be to sell it myself and payoff. But with several that might be in my situation, hope they come up with something
Used car values overall might be lower than the original estimates when captives originally set the RVs. Would it be fair for them to come after you for those losses?
Being 50% under mileage will make for a very attractive lease transfer offer, which means you could potentially get out of your lease much earlier and/or at least not be subject to any lease return or condition fees.
That probably wouldn’t be a viable option even if the market was good(not on those two cars), virtual no chance there no. Transfer or just turn it in a the end.
We still have 18 to 24 months left. Are you saying we should look into transferring the merc lease now? Problem is, we may still need 2 cars though the mileage usage will end up being only 50% of the allotment
Do you know for how long you are WFH?
If you have two cars and use 50% of both, then isn’t it having one car get’s you 100%? Even if you go over a bit still may be cheaper than keeping second car for all this time.
So yeah there’s basically nothing you can do or ditch one and pick another lease with the lowest mileage option or be like 90% of all the other people leasing and in the same boat.
True, but while both WFH, I’m sure there is a way to get by without second car and for less than having second car payment, insurance, maintenance, gas etc.
Looks like I might only need the car 2 days a week even after everything opens up
Other car might be used 3-4 days a week. So a definite overlap every week. If I cant really get 30K miles out of my merc, really no point in paying. Makes me wonder if I should just transfer lease and buy a used accord or something
If I post to transfer, how much incentive will I have to offer on a 2018 CLA 250 AWD (41K price), 18 months and 25K miles left. Or let me put it this way, how much per month will someone bite so I can offer the difference as incentive
Post it to swap a lease as is and see if anyone bites. If you’re anxious to dump, start adding incentive every couple weeks till you get a bite. If you’re ok with holding onto it, leave it as-is till someone bites.
This, of course, is dependent on you not having an 800/mo payment on that thing, and having something decent already.