How do I get out of a car I can't afford? Read details...?

Question

I am about 14 months into a 48 month lease of a 2006 VW GTI. My payoff quote is arond $21k. I pay $400.42 per month. I made a mistake buying this car, when I later changed jobs and now am barely able to make payments. HELP! Oh, also, mileage approx 20k. Thanks!

Answer 1

You might be able to talk the dealer into trading down if you explain the situation to them. We have traded people out of clean low milage lease vehicles before just to get the vehicle on the lot, just beware, it will cost you a bundle, you are going to get nailed for the depreciation for 14 months which is going to be a killer.

Answer 2

Well there are 2 ways to get out of your lease one painful and one not. The best way is to find someone to take over your lease payment the hard part is they have to have excellent credit there are many websites out there that let you sell your leased vehicle. The other way is to turn it back to the dealer which is like a voluntary repossession. Sorry... I hope this helps a little.

Answer 3

♥ Your kinda stuck. I did the same exact thing... In December 2005 I brought a 2005 F150... my payments were $399 a month (simply because it was in my moms name as well). And my insurance was $400 a month. I also switched jobs... my mom ended up talking to them and getting a different car with a slightly lower payment, but it was because of something that had occured with the salesman... You can try talking to them, but I dont believe there is nething they can do...

Good luck ♥

Answer 4

Breaking a lease is very expensive, as you owe more than the car is worth. The best option is to keep paying. I know that sucks but your other options are worse.

Answer 5

Try this: http://www.swapalease.com/

Or try to sell the car.