I am looking to do an early termination on my Nissan lease, I still have about 30 months left and was wondering about how much I would be paying to get out of the lease. If someone has experience with this please let me know.
Also, I have thought about doing the Swap-a-lease or leasetrader type thing but have found out that I would still be liable for the payments just in case the person I sold it to, did not make the payments. I do not want to be responsible for someone else.
2006-12-11 09:26:55 · 5 answers · asked by sardar615 2 in Cars & Transportation ➔ Buying & Selling
If you are planning to keep the car, (pay the buyout) there usually isn't a penalty.
Some leases charge 3 months payment to terminate it.
If you want to trade it in, the will usually waive early termination costs.
BUT!!!!!! if you return the car, pay to terminate the lease you still have a problem. If your car has excess mileage over the stated limit. you will be charged for every mile over. AND if the cars condition does not match the book value. if the tires are bald etc you will be charged the difference.
DO NOT SWAP if the leasing co. is not involved, you are liable. The lease co places a lien against all leased cars. So private transactions, sales etc. can't be done. Leases can be transferred, but the lease co treats it like a new leasee and they must qualify.
The last problem is if the amount owing on the lease, buyout, payments etc. exceed the cars value at the time you wish to terminate the lease, you will need to pay the difference.
Leases are great going in but hell going out.
2006-12-11 12:21:51 · answer #1 · answered by ? 6 · 1⤊ 0⤋
There is no reason to speculate, call Nissan and get an exact amount to terminate the lease. Wild guess, 20 payments.
You can try swap a lease or lease trader, but you may have to offer an incentive. Read your contract to determine if someone can assume your lease. Lease transfers through the lessor are usually done with the approval of the new lessee, a fee to transfer. In general you would be relased from the contract.
2006-12-11 17:36:33 · answer #2 · answered by Gatsby216 7 · 0⤊ 0⤋
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2016-11-25 21:25:23 · answer #3 · answered by ? 4 · 0⤊ 0⤋
your lease may have an early out clause in which case you pay a percentage of the remaining payments,other than that you would have to pay all remaining payments in full.talk to the leasing company for options
2006-12-11 09:47:48 · answer #4 · answered by doug b 6 · 0⤊ 1⤋
Each lender is differnt and you will have to contact your lender as well as read the back of your contract to see what fees and process is involved.
2006-12-11 12:47:33 · answer #5 · answered by Opinions are just like... 2 · 0⤊ 0⤋