I leased my s2k for 36 months and I have 11 months remaining until the lease is up. The manager of the dealership mentioned that I could bring it back in 30 months rather than 36 and get out of paying the remaining 6 months. Is this common? Or is he just willing to do this if I get into something else. This is my first time leasing so any help appreciated.

 

[QUOTE]Originally posted by mlgomez
I leased my s2k for 36 months and I have 11 months remaining until the lease is up.

 

The only thing i can think of them letting you do that is they need a car used s2k for a customer.

 

This is what I think is likely.....

You probably have enough equity in your S with the trade in value they would be able to give you....So basically they would use that 'equity' to pay off the remaining months allowing you to start 'fresh'.....I think.

 

That, or they could just roll what you own into the next lease/purchase so you wind up that much farther behind the 8 ball. Maybe I'm must being pessimistic here but that sounds a lot more likely to me!

Good luck & Drive Safe,
Steve R.

 

Don't end your lease early.

You signed a contract, fulfill it and end it properly. By ending ur lease early, you violated the terms of the lease agreement, which can cause all sorts of problems such as

1. not being able to purchase ur car at the agreed upon residual price set at the signing of the lease.

2. any lease protection such as 1,500 damage protection, etc.

3. whatever else...

don't violate ur lease contract.

 

no, when you get out of a lease, you just pay the residual.

if the dealer takes possession of the car, then there are NO fines at all. fines are only levied if the leasing company takes the car back. there is no contract violation.

this is unless he has a crappy lease that doesn't allow this. most do, though.

I think that the dealer wants the S to sell to someone. Since the S is low volume, dealers want all that they can get.

 

If you can turn the car in and not have to pay anything, it's up to you and may be worth it if you are looking at something else. If I could get out a of car early, I'd do it.... Starting a lease on new car for 30 months would have a higher lease rate than the same car for 36 months, and if you are able to turn it early without additional $$$ out of your pocket, it's like getting the 30 month lease at 36 month rate.

The leasing company you are paying is expecting a certain amount of money over 36 months and perhaps the dealership is paying the risidual?

 

Just curious... How much are you paying monthly on your 3 yr lease???


Also, there are ways to end a lease early without any penalties:

You can trade the car in, and if you have equity, good, if you are upside down, the negative equity just gets carried over....
Remember, there is always a buyout on a lease, much like when you finance a vehicle...

Ex. If the buyout is $25k on your car, and the dealership offers you $22k for it, you can get out of the lease, but will have negative equity, but no penalties...

 

[QUOTE]Originally posted by trendy26
Just curious... How much are you paying monthly on your 3 yr lease???
Also, there are ways to end a lease early without any penalties:

You can trade the car in, and if you have equity, good, if you are upside down, the negative equity just gets carried over....
Remember, there is always a buyout on a lease, much like when you finance a vehicle...

Ex.