I have a 2004 Honda Odessey. I lease it for a large amount of money monthly, no money down. Now I want out!!! What do I do? Is there a way out? The lease is up in Dec. 2007.
2006-10-11 12:51:25 · 7 answers · asked by Stacey 2 in Cars & Transportation ➔ Buying & Selling
Contact the leasing company and see what it would cost you to terminate the lease early. Ask about the cost to buy the vehicle now also!
Take the vehicle to a dealer or to Carmax and see what you can sell the car for. Compare the cost of buying the car and selling it, and the fees if you return the vehicle early!
Good luck
2006-10-11 13:27:47 · answer #1 · answered by fire4511 7 · 1⤊ 0⤋
You can sell the vehicle and do a 'pay-off' on your lease. Call the leasing company and get all the details, which will include the amount you will be short if you do this. Most likely you will have to secure some sort of loan to 'gap' what the Honda sells for and what you owe. (still better than paying those ridiclous lease payments).
Sorry you had to find out about the worst deal in America the hard way. Live and learn, huh?
2006-10-11 20:22:35 · answer #2 · answered by Anonymous · 0⤊ 0⤋
i own a repair shop,and i had a friend in a spot like this he got someone to buy the lease out,or basically take it over,and he got out of it that way,other wise i think they can hold you to it,he tried once before to get out of and failed,but after he got out of it,,he said never again would he lease one,,you might can get out of it,,look the lease agreement over really good and look for any kind of a clause in it to let you off the hook,good luck i hope this help,s.
2006-10-11 19:59:01 · answer #3 · answered by dodge man 7 · 0⤊ 0⤋
There is such a thing as a "right to refusal" however it's only good for three days, and I'm not sure if it applies to leases.There's always a way out, it's just a matter of which one will you choose to go with.
2006-10-11 20:14:00 · answer #4 · answered by Michael 2 · 0⤊ 0⤋
Read all the fine print on the contract.
There are probably cancellation fees.
If you stop paying, they will repo it but probably ruin your credit and still get you to pay all the cancellation fees.
Talk to a lawyer.
2006-10-11 19:54:21 · answer #5 · answered by Dennis K 4 · 0⤊ 0⤋
talk to the dealership - look at your contract and see if there is an "out"; if not, talk with a lawyer and see what can be done without hurting your credit.
2006-10-11 19:54:00 · answer #6 · answered by YRofTexas 6 · 0⤊ 0⤋
not very likely.dealerships are pretty good at this game
2006-10-11 19:55:46 · answer #7 · answered by rclem1962 1 · 0⤊ 0⤋