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I have 19 payments left car lease for $682.00 per month, thinking to return the car back to the Dealer. I called the bank and they told me that, I will be responsible for the remaining payments. My questions is if I return the car, can I pay back the bank the remaining payments for less money per month and Don't HURT my CREDIT?
Anyone had the same experience and would like to share?
I have 19 payments left car lease for $682.00 per month, thinking to return the car back to the Dealer. I called the bank and they told me that, I will be responsible for the remaining payments. My questions is if I return the car, can I pay back the bank the remaining payments for less money per month and Don't HURT my CREDIT?
Anyone had the same experience and would like to share?
Thank you,
There is a website for people looking to transfer their leased vehicle (sorry, unable to locate it right now).
swapalease.com - car lease takeover - auto lease assumption - car lease transfer - auto lease take over (http://www.swapalease.com/g1.asp?gclid=CNKdrLWWo5YCFQKaFQodMHiR6g - broken link)
Sorry to tell you but if you turn the car back in, its' basically a volunteer repossession. You will be responsible for the remaining payments and for the same amount, no less. You can negotiate with the bank to not put it on your credit as well. Just make sure you get it in writing.
Basically, you'll still be paying for the car so why not just keep it?? What are you trying to get rid of anyways?
You have to understand at the beginning of the lease that you will be responsible for paying for the entire term of the lease. I asked that question about 10 times to make sure that there was no "early out."
Then I made sure I had the cash to pay for the car outright before I went to lease it.
You can find people to take over your lease. There are several sites if you google. Maybe the people you are leasing from can even help you with that.
Sorry to tell you but if you turn the car back in, its' basically a volunteer repossession. You will be responsible for the remaining payments and for the same amount, no less. You can negotiate with the bank to not put it on your credit as well. Just make sure you get it in writing.
Basically, you'll still be paying for the car so why not just keep it?? What are you trying to get rid of anyways?
Hi, it's a big SUV, it's killing us on gas, and this payment is too high right now! Plus I would save couple hundreds dollars on Insurance too!
Thank you,
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