I have an 05 Jeep. It still has a year and a half left on the lease but I want a truck. Can I break the lease for a new truck?
2006-12-12 07:18:35 · 5 answers · asked by Mussmania 2 in Cars & Transportation ➔ Buying & Selling
Dealers will trade customers out of leases all the time. You can call your leinholder and find out what your payoff is. Chances are you are going to be in a situation where you owe more than the vehicle is worth. This inequity (difference between what the dealership will give you for the lease and what your payoff is) will be added into your loan on the truck you purchase. Contact a dealership to see if the payments will be affordable.
2006-12-12 10:42:21 · answer #1 · answered by skittle 3 · 0⤊ 0⤋
Go to the dealer where you initiated the lease. Tell them what you want to do. You may be surprised at what they can do to get you a truck and get you out of the lease. There are lots of options besides ruining your credit. Dealers want to sell cars, not re possess them. Give it a try at least.
2006-12-12 07:27:00 · answer #2 · answered by yes_its_me 7 · 0⤊ 0⤋
procceed at your own risk, but i would seriously wait the 1.5y left, sure you can return the vehicle but youll get a bill in a few months, but most importantly your car might be in negative equity (which is almost always the case on leases) meaning that if its sold for 10k and theres residual value left of 15k your -5k under and that will be coming out of your pocket plus selling fees because they will sell the at a auction, one more thing, it will go on your credit as a voluntary repo which will stay on record for 7years.
i would talk to your dealer...
2006-12-12 07:46:58 · answer #3 · answered by stucaz 2 · 0⤊ 0⤋
you would be better off on a trade in. Don't break the lease it will destroy your credit.
2006-12-12 07:21:47 · answer #4 · answered by tjnw79 4 · 0⤊ 0⤋
yes, but you are going to be responsible for the difference in value of your Jeep compared to what the payoff is.
2006-12-12 07:21:56 · answer #5 · answered by Eric B 2 · 0⤊ 0⤋