What happens with it can I give it back even though I have like a year left on the lease, will I get a penalty, of are they going to tell me to trade it for something else. Help.
2007-07-02 03:42:20 · 5 answers · asked by Anonymous in Cars & Transportation ➔ Buying & Selling
Leasing is just a creative way to finance a car. You are just as obligated as if you'd taken out a loan. It's doubtful that you will come out of this with your credit in good shape but you might as well call the bank that owns the lease and tell them the situation. They don't want the car back and might work with you in some way. Losing a job happens and not being able to pay a lease payment is not as bad as just deciding not to pay it. Good luck.
2007-07-02 05:10:24 · answer #1 · answered by Anonymous · 0⤊ 0⤋
This is not too difficult unlike what others think. Call the bank and find the payoff number for the car. that is the amount of money it will take to buy the car from the bank right now. See what you can get for it provately. if it's close, you're in luck.
2007-07-02 04:22:08 · answer #2 · answered by Jay P 7 · 0⤊ 0⤋
You will have a penalty. Around $2000-$4000. It all depends on what you signed, what the car is worth and the total payout is on the car. Call the dealership and they can tell you.
2007-07-02 03:49:01 · answer #3 · answered by Anonymous · 0⤊ 0⤋
I think you can roll this lease into another lease, very similar to a trade in.
2007-07-02 03:57:13 · answer #4 · answered by TAXLADY 1 · 0⤊ 0⤋
talk to them...you probably trade down....longer payments ,crappy car ,,higher interest...good luck...dont worry,,,,talk to them...
2007-07-02 03:47:53 · answer #5 · answered by Anonymous · 0⤊ 0⤋