Is it possible to get out of a car lease early?

[MichelleVW]

Speaking as someone who sold cars for many years....
The customer who thinks they got the best deal usually paid the most.

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Lol.....you have no idea how many cars we've had in the past 10 years. My DH seriously knows more about the car buying/leasing game than 90% of the salesmen he comes in counter with. You may be right for the person that buys a car every 4 or 5 years but in the 9 years that we have been married I can't even begin to tell you how many cars we've had. Yes, we will always have car payments because of his obsession for "different" cars....but he does get good deals.

 

[StitchesGr8Fan]

Chrysler is discontinuing the T&C. The only option will be a Dodge Grand Caravan. Not sure if it is for 2014 or 2015.

 

[labdogs42]

Chrysler is discontinuing the T&C. The only option will be a Dodge Grand Caravan. Not sure if it is for 2014 or 2015.

Oh, that's weird! But, considering the GC and the T&C are essentially the same thing, that's OK by me.

 

[labdogs42]

A solution might be to have someone assume your lease.
I have never leased a car, so I have never used these web sites--but I found this with a google search:
http://www.leasetrader.com/

http://www.swapalease.com/

Here is an article on Edmunds.com:Get Out of Your Lease the Cheap and Easy Way Or Save Big by Assuming a Short-Term Lease

and LOL. I found all three of those sites yesterday, too!

 

[labdogs42]

Agreed! We leased for years, always ended anywhere from 4 to 9 months early and never paid to get out of the first lease or had months rolled onto the next one. See if you can find a dealership that has multiple manufacturers. We have gone from Pontiac to Jeep to Chevy to GMC to Hummer back to GMC at the same dealership. The last time we ended a lease and purchased without penalty.

Yeah? I found a dealer that has both brands near me. This sounds promising...I hate to pay any more money into this car that I truly dislike.

 

[Bob NC]

You don't know my husband lol. We've leased many cars and he never keeps them until the lease is up...heck not even close and we always get a good deal.

I'm not including your husband in this, but, whenever I hear someone bragging about their car shopping expertise, upon further investigation they usually have a skewed notion of what a 'good deal' really is.

 

[HM]

I had a coworker who's 38 yr old husband died of a massive heart attack while playing pick up basketball. He had a newish lease on a car in his name. The dealership would not let her cancel the lease. She had to keep paying for a car that no one drove for the rest of the lease. Her experience led me to believe it's not possible.

 

[Luv Bunnies]

Op - I'm curious as to what you don't like about your KIA Sorento? I've had mine for a year and I love it.

 

[MichelleVW]

I'm not including your husband in this, but, whenever I hear someone bragging about their car shopping expertise, upon further investigation they usually have a skewed notion of what a 'good deal' really is.

Oh yeah...I just close my mouth when most people tell me about their good deal. We usually buy and sell at least 2-3 cars a year and even when he's not actively looking he's running numbers. It's a weird hobby of his. I honestly wish we could just keep a car and pay it off but it's a losing battle and since he doesn't say anything about my 2-4 trips to Disney a year, I let him buy and sell cars.

I had a coworker who's 38 yr old husband died of a massive heart attack while playing pick up basketball. He had a newish lease on a car in his name. The dealership would not let her cancel the lease. She had to keep paying for a car that no one drove for the rest of the lease. Her experience led me to believe it's not possible.

I'm sorry for your coworker, but it really is possible, there would be a penalty just like any contract, but you can get out of it, especially if you are like the OP and want a different car.

 

[OrangeCountyCommuter]

I had a friend who was a 'Genius" at the car game...Until he declared bankruptcy and it came out that he was just rolling the payments foward.. no nope of EVER getting out from under. There's really no free lunch. If you signed a contract saying you will pay X over x months then... no they aren't just letting you out. they are just rolling it to the next deal LOL!

I don't trust the "it sounds too good to be true" (there's going to be a catch)

I just paid out my lease a few months early when I bought a new car. Option two was just to let it sit in the driveway

 

[Desnik]

He has an awesome car dealer.....honestly no idea how...but my husband is a genius at the car game.

Lol.....you have no idea how many cars we've had in the past 10 years. My DH seriously knows more about the car buying/leasing game than 90% of the salesmen he comes in counter with. You may be right for the person that buys a car every 4 or 5 years but in the 9 years that we have been married I can't even begin to tell you how many cars we've had. Yes, we will always have car payments because of his obsession for "different" cars....but he does get good deals.

I swear our husbands must be related!!

We have been together for 19 years and have had over 25, yes over 25 new cars. He loves cars, loves having new cars, and like your DH knows more than any salesman we have ever encountered. We have had just about every make car out there and have broken our share of leases!

OP, it can be done, but always at a price. Basically whatever the car is worth minus what you owe to buy out the car at the end of the lease. So let's say you owe $15,000 at the end of your lease to buy out your car, but right now, it's only worth $12,000. You are "upside down" $3,000. That price then gets negotiated. You can roll it over into a new lease or purchase. You can pay the difference. You can ask the dealer to come down on the car you plan to get and at least meet you half way.

It's not ideal, but it's a way out. We've done it many times. DH is so darn picky and seriously can find something wrong with just about every car he's gotten. Well, except for the only car he loved and we actually bought out at the end of the lease. (Mercedes Benz E350 4matic)

The shortest amount of time we've had a car was 6 months. It was leased and we had no problems with trading it in for a different car, at a price. Oh, and we've never had to go with the same manufacturer. I've gone from a Honda to a BMW, a Toyota to a Nissan, etc.

 

[labdogs42]

Op - I'm curious as to what you don't like about your KIA Sorento? I've had mine for a year and I love it.

It is a nice enough car, I just wish it was a minvan! I thought I could downsize to the Sorento, but really, I just want a van again. It is a perfectly nice vehicle for someone else!

 

[nugov2]

You don't know my husband lol. We've leased many cars and he never keeps them until the lease is up...heck not even close and we always get a good deal.

Us too! I have had a lease for 6 years b/c I like a new car every couple of years and put no miles on a car so leasing is the perfect option for us. I always trade in early and our last one I upgraded from the middle of the road Honda Odyssey to the top of the line touring...for only $10 more a month Part of it is I always get a new Honda Odyssey...can you tell I LOVE my minivan. So I think the key is that you can get out of the lease early but it needs to be with the same dealer.

 

[labdogs42]

Can I find a buyer for the leased car? Wonder how that would work?