2007-02-12 15:10:37 · 11 answers · asked by densheng 1 in Cars & Transportation ➔ Car Makes ➔ Scion
You're a perfect example why people shouldn't lease. You have to go to the Scion dealer and find out what the buyout cost is.
2007-02-13 06:09:21 · answer #1 · answered by Anonymous · 3⤊ 0⤋
ok first of all actually contrary to what many believe leasing is a great way to go. most people never own their car any way. there is a joke in the automotive world it goes "why do bank have drive up windows? so the car can visit its rightful owner." and you can get out of the lease just like any other vehilce you take it in and trade it in you will have some inequity, what that means is you owe more than your car is worth. it could be worse, if you had "purchased" the car you would have much higher amount to pay off. the way inequity works is when you trade a car in the company that take is it in on trade only pays what the car is worth.. the rest is up to you, so the negative equity is rolled into the new loan balance. you would be better off leasing a new car for around 36 months and keeping it for the whole term and paying the high payments. the reason being that at the end of the 36 months you will have no negative equity to roll into another car. the bank takes all the risks. very very very very very few car salesman ever buy a car. they usually lease because they know it is a better deal..you get a new car every couple of years and the bank takes all risk.
2007-02-14 18:15:58 · answer #2 · answered by big_john_719 3 · 1⤊ 0⤋
Your first mistake was choosing a Scion anything. I will never know what people see in these ridiculous vehicles. Your second mistake was taking such a long lease. There isn't much you can do. You can do a lease buyout, basically paying off the remaining payments plus the residual value and then hope to recover most of that by then trading it in or selling it privately. This can be very costly. Your other option is to find someone to take over the lease. There are websites that specialize in helping with this process. Its a long and time consuming process. Your best bet, live with it for the next 42 months and just know to never get a Scion, I mean, never lease for such a long time ever again.
Oh my, you will have paid $19500.00 over 5 years for a vehicle that starts at around $13000.00 and you wont even own it at the end. Good grief.
2007-02-14 08:05:17 · answer #3 · answered by J D 5 · 1⤊ 2⤋
Lease usually goes up to 3 years.
Are you sure that's a lease not a finance?
If that's really is a lease, calculates the fines of returning early and compare to the cost of the car.
If that's really is a lease, see if there is a option to buy out early.
If that's really is a lease, see if you can trade it in for another car for a max 3 year lease better to be 2 year.
And of course...
If you are financing it, you can do whatever you liked.
Payoff, Sell, etc...
$19500 for 5 years for a Scion xA, you should be financing not leasing on a very high intrest rate.
All I can say is good luck.
Please do some research on buying new car under www.edmunds.com or www.consumerreports.org
2007-02-13 18:55:34 · answer #4 · answered by 991 2 · 1⤊ 0⤋
DUDE! the dealership totally screwed you over. You will have to pay another $13,650 on it in the remainder of the lease. That's only slightly less than owning a new one. Go to the dealership and ask about it. If they won't, tell them you know how they screwed you over and they are never going to get your business again. Not much you can do.
Was your credit bad? That why you're paying so much? Out of curiousity...
2007-02-16 06:53:22 · answer #5 · answered by Busta 5 · 1⤊ 0⤋
you may see what the broking needs. He could permit you pay a flat quantity as a penalty and lease it to somebody else. All they care approximately is breaking even. of course they gained't get $323 for a motor vehicle that's a million.5 years previous. you may additionally attempt having somebody take over the lease money yet you may desire to make certain that they're going to proceed them for the soundness of the lease.
2016-10-02 01:29:00 · answer #6 · answered by luera 4 · 0⤊ 0⤋
If you really decided to lease it for 5 years, you are an idiot. There's no way out. You should have gotten the xB! Much cooler then your cheap replica of a Toyota Matrix.
2007-02-13 20:26:52 · answer #7 · answered by Anonymous · 0⤊ 2⤋
Man, did they ever see you coming. Sell the POS, pay the difference and never, ever do this again.
2007-02-13 11:47:16 · answer #8 · answered by Anonymous · 0⤊ 0⤋
Full coverage insurance
2007-02-12 20:49:38 · answer #9 · answered by Dr Phil 5 · 0⤊ 1⤋
Call your dealership and talk to them.
2007-02-16 00:59:22 · answer #10 · answered by T C 3 · 1⤊ 0⤋