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Hi, does anyone have any experience with early lease terminations due to illness? My 95 year old father started a car lease a few months ago and cannot drive anymore. The car, a 2019 Toyota Camry has 1200 miles on it. We called Toyota and they said to turn the car over to the dealership who will then auction off the car and my father will be liable for the difference. We are going to get a letter from a doctor and write a letter to dmv showing he turned over his license. Does anyone have any experience with this type of situation? Thanks.
Does he have the money to pay the penalties or what ever? If so, he should pay the lease company. If not, he should quit making payments and tell the lease company good luck. Then the lawyers can figure it all out later.
What difference does getting sick have to do with anything? Lots of people get sick and/or old. That doesn't mean that their bills just magically go away when it happens.
It might be worth examining all the paperwork. It's possible the dealership misrepresented his income or some other material information on the application.
I would just drive the car yourself and make the payment rather than do that. He will get hosed big time if you do that.
Another option is to see if Toyota leases are transferable or not. If they are you can find somebody to legally assume it if they want the car. You'd have to throw in some money to get somebody to bite on that probably though, since they could easily just go get a new one.
what's done is done...I agree with urbanadventurer. If your financial condition allows, negotiate with the dealer to see if you can take over and continue driving the car. What's the term and condition of the lease?
Hi, does anyone have any experience with early lease terminations due to illness? My 95 year old father started a car lease a few months ago and cannot drive anymore. The car, a 2019 Toyota Camry has 1200 miles on it. We called Toyota and they said to turn the car over to the dealership who will then auction off the car and my father will be liable for the difference. We are going to get a letter from a doctor and write a letter to dmv showing he turned over his license. Does anyone have any experience with this type of situation? Thanks.
It is no different than if he bought the car on a loan.
What can you sell the car for, and what's the payoff? If the payoff is $25K and the car's worth $23, pay $2,000 down on the lease and sell it. Start by going to Carmax.
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