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Getting out of a vehicle lease?

  • Automatik
    Least expensive and painless method? Does this exist?


    A close friend is locked in a 36 month lease. Her work moved her to NYC from Cleveland, she wasn't given much notice and career wise is wasn't something she could pass up. She's currently 8 months into the lease.


    Having the car here is basically a pointless money suck. It just sits on street, while she taking care of the lease and insurance payments. I feel bad for her so I'm trying to help, it's a shitty situation.
  • sleeper
    I believe you can transfer the lease to someone else and they take over the contract.
  • bases_loaded
    What kind of car?
  • Automatik
    According to my brief research, it all depends on the contract.

    She cold possibly walk away, but will have to pay a hefty penalty. A coworker walked away from the same term lease after 20 months and paid a fee of $3,500.
  • QuakerOats
    Rule # 1 -- never lease a car (unless it is a company vehicle).
  • Automatik
    My #1 rule is to not even have a car.
  • wildcats20
    Just saw a commercial for swapalease.com.

    Go for it.
  • sleeper
    Automatik;1794924 wrote:My #1 rule is to not even have a car.
    Found the city dweller.

    I honestly don't need my car but its convenient to have one. Mostly my car is there just to impress people that I don't really care about.
  • Mulva
    This is probably a naive question, but why not bring the car?
  • sleeper
    Mulva;1794933 wrote:This is probably a naive question, but why not bring the car?
    Nowhere to park it in NYC at a reasonable cost and the lack of a need for a car in a big city.
  • Mulva
    Derp. I read it backward as NYC to Cleveland.
  • Automatik
    I had one for a few months, just not worth it. Moving it for street sweeping was a major PITA. It all depends on your location.

    Zipcar is perfect for my vehicle needs.

    My friend is in a difficult situation though. She also has a medium-sized dog, one that you can't really take on the subway.
  • like_that
    I have my car in DC. It's more of the conscience to have one (traveling out of town, faster commute to work, grabbing groceries, etc), but I could live without it if it came down to that. Moving the car for street sweeping is a pain in the ass though.

    There really is not much use for a car if you live in NYC though.
  • raiderbuck
    QuakerOats;1794923 wrote:Rule # 1 -- never lease a car (unless it is a company vehicle).
    Subjective.
  • rocketalum
    Particularly if you believe in the buy what appreciates, rent what depreciates philosophy.
  • rrfan
    Automatik;1794937 wrote:I had one for a few months, just not worth it. Moving it for street sweeping was a major PITA. It all depends on your location.

    Zipcar is perfect for my vehicle needs.

    My friend is in a difficult situation though. She also has a medium-sized dog, one that you can't really take on the subway.
    what kind of Dog?
  • rrfan
    QuakerOats;1794923 wrote:Rule # 1 -- never lease a car (unless it is a company vehicle).
    I agree with this. Buy a car and maintain it till it dies. You will save a fortune.
  • Automatik
    Dog: Husky

    Car: Chevy Cruze (lol)
    wildcats20;1794925 wrote:Just saw a commercial for swapalease.com.

    Go for it.
    Looking into this.

    Also possibly getting a buyout number then selling to Carmax.
  • wildcats20
    Automatik;1795056 wrote:Looking into this.

    Also possibly getting a buyout number then selling to Carmax.
    I'm sure it's some sort of a scam or something. Just thought it was funny I was reading this thread and it came on tv. It was super low budget looking.
  • QuakerOats
    Automatik;1795056 wrote:Dog: Husky

    Car: Chevy Cruze (lol)



    Looking into this.

    Also possibly getting a buyout number then selling to Carmax.

    Nice dog. Keep the car, since it looks like the subway into Manhattan from Brooklyn is going down for a long time.
  • Automatik
    That's not starting until 2019 and I highly doubt they will completely shut down the tunnel. There's also 2 other lines going into Manhattan.

    She's gotta ditch the car or make more money. The latter isn't happening anytime soon.
  • ts1227
    wildcats20;1795057 wrote:I'm sure it's some sort of a scam or something. Just thought it was funny I was reading this thread and it came on tv. It was super low budget looking.
    It looks legit, just seems like it hasn't taken off yet. She may have decent luck in a big city on something like that though.

    I suppose she can try to throw it on Craigslist and get someone to take over the lease?
  • superman
    Get an extra set of keys, "accidently" leave them on the seat. The problem will take care of itself.
  • rydawg5
    superman;1795079 wrote:Get an extra set of keys, "accidently" leave them on the seat. The problem will take care of itself.
    I leased a Honda CR-V a few years ago and turned it in to Carmax half way through and I was only $650 upside down with their really strong offer. They pay off the lease and it's done.
  • Tiernan
    "A close friend...?" What happened 'Matik ya get a little overextended buying the 'Benz with gold spinners?