Has anyone ever done it? What questions should I ask my lender (GMAC)?
2007-03-16 03:52:25 · 2 answers · asked by Mike R 1 in Business & Finance ➔ Renting & Real Estate
Ask the lender what is a balance on the loan to pay in full. A car lease is still a loan, it's just not fully amortized. If you can sell the vehicle for an amount close to the payoff balance on the loan, and then pay off the loan, you can get out of it this way. You can trade the car in if you buy another one, but essentially it's the same as selling.
2007-03-16 03:59:21 · answer #1 · answered by Alexander K 3 · 0⤊ 0⤋
Leases are really tough, the terms are laid out up front and if you want to terminate a lease early you can look to pay additional fees. After over 7-years in the car business, I have never seen anyone get out of one without paying.
2007-03-16 10:57:58 · answer #2 · answered by ? 7 · 0⤊ 0⤋