Anyone ever cut a lease short?
#1
Anyone ever cut a lease short?
Whats the least painful way to do it? I'm leasing this Mazda 3, and I'm only about 13 month into a 39 month lease - and I'm already sick of it. Trying to see if there's an easy way to get rid of it without paying all sorts of fees.
#2
Lexus Champion
Many times. I just trade it in. As long as the trade in value is more than the payoff (residual plus remaining payments) you are ok.
#3
Depends on what your lease paperwork allows for. You could list it on sites like swapalease etc and try to get someone to take it over. Or, you could get a trade in/sell bid on it and see how it compares to your lease buy out quote, likely a bit underwater on it in the first year I would imagine.
#6
Lexus Champion
Here in Canada, we have a service called LeaseBusters (leasebusters.com). This is from their introduction page:
Find someone who is willing to take over your lease from you. I have leased for a number of years and when I have asked the dealer what I should do if I wanted to end a lease early, this is the first thing I was told: find someone to take over the lease.
The second option, that I took advantage of once, is to have the dealer buy back the car for a price that is at least as much, or greater than the value of the remaining payments on the car. I have been told that this option is usually only worth it in the 3rd year of a 4 year lease (I lease Toyotas for 4 years up here). Of course, it works for you if your car is worth something on a used car lot.
If the Mazda3 is in such high demand that people are busting the doors to get one, even a slightly used one, it may be worth trying to see if a dealer is willing to buy your 3 from you.
What's the problem with the Mazda3 that you want to get rid of it so early?
LeaseBusters is very similar to an online dating service that assists people in finding the right partner except LeaseBusters promotes leased vehicles as opposed to people. The LeaseBusters model is very simple; if a leasing customer has a vehicle that they would like to get out of (regardless of the reason), LeaseBusters will find a new customer to take over the balance of the existing lease.
The second option, that I took advantage of once, is to have the dealer buy back the car for a price that is at least as much, or greater than the value of the remaining payments on the car. I have been told that this option is usually only worth it in the 3rd year of a 4 year lease (I lease Toyotas for 4 years up here). Of course, it works for you if your car is worth something on a used car lot.
If the Mazda3 is in such high demand that people are busting the doors to get one, even a slightly used one, it may be worth trying to see if a dealer is willing to buy your 3 from you.
What's the problem with the Mazda3 that you want to get rid of it so early?
#7
Lexus Test Driver
You'll get the most money for your car by selling it privately. Then pay off the lease and use the extra money to offset the fees.
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#8
Lexus Champion
Have you tried SwapALease.com?
#9
Lexus Fanatic
iTrader: (20)
#10
Lexus Champion
#11
I don't know, I just though it was a smart idea to have a beater car, but as it turns out - the beater is the one that gets driven the most, and its just missing out on all of the conveniences, comfort and fun. I've only been driving it for a year, and already tired of it. I'd like to upgrade to something cooler.
#12
Lexus Fanatic
iTrader: (20)
I don't know, I just though it was a smart idea to have a beater car, but as it turns out - the beater is the one that gets driven the most, and its just missing out on all of the conveniences, comfort and fun. I've only been driving it for a year, and already tired of it. I'd like to upgrade to something cooler.
obviously not everyone can afford a nice vehicle.
but if you can, life's too short to drive a cheap one.
#13
good for you. not surprisingly the 'beater' gets driven the most as it's meant to take the brunt of the 'abuse' of driving. i've spent quite a bit of time struggling with what i should get next, from econoboxes to luxury vehicles to two vehicles, etc. but like you, i've concluded i wouldn't enjoy driving something with few frills or conveniences. i even looked at a 2015 fit, which is a neat small car, but i didn't even bother to drive it once i got the feel for the interior which just seemed so cheap and funky.
obviously not everyone can afford a nice vehicle.
but if you can, life's too short to drive a cheap one.
obviously not everyone can afford a nice vehicle.
but if you can, life's too short to drive a cheap one.
#14
Lexus Fanatic
iTrader: (20)
i recently drove 1000 miles in a new, but base (i think) corolla. it was absolutely awful.
#15
good for you. not surprisingly the 'beater' gets driven the most as it's meant to take the brunt of the 'abuse' of driving. i've spent quite a bit of time struggling with what i should get next, from econoboxes to luxury vehicles to two vehicles, etc. but like you, i've concluded i wouldn't enjoy driving something with few frills or conveniences. i even looked at a 2015 fit, which is a neat small car, but i didn't even bother to drive it once i got the feel for the interior which just seemed so cheap and funky.
obviously not everyone can afford a nice vehicle.
but if you can, life's too short to drive a cheap one.
obviously not everyone can afford a nice vehicle.
but if you can, life's too short to drive a cheap one.
http://www.edmunds.com/car-compariso...atorId=3282634