Getting out of a lease agreement early - and cheaply
Discussion
Does anyone have any experience of this?
We moved to the US about two and a half years ago with my wife's work on a three year visa and after a couple of months in a hire car, leased a new Honda Civic on a three year deal (no credit rating means we got raped on the payments, but ho hum). I moved back to the UK recently and my wife is also returning early, next year for a variety of work and personal reasons.
The lease on the car will have about six months to run. We don't fancy having to pay the remaining payments in one lump sum or an early termination penalty (pretty much the remaining payments), if we don't have to.
Searching on the Internet, we found this site http://www.swapalease.com/, where you advertise your lease for assumption by a third party who take the lease off you and see it through.
Any American or ex-American resident PHers ever done this?
Thanks,
HS
We moved to the US about two and a half years ago with my wife's work on a three year visa and after a couple of months in a hire car, leased a new Honda Civic on a three year deal (no credit rating means we got raped on the payments, but ho hum). I moved back to the UK recently and my wife is also returning early, next year for a variety of work and personal reasons.
The lease on the car will have about six months to run. We don't fancy having to pay the remaining payments in one lump sum or an early termination penalty (pretty much the remaining payments), if we don't have to.
Searching on the Internet, we found this site http://www.swapalease.com/, where you advertise your lease for assumption by a third party who take the lease off you and see it through.
Any American or ex-American resident PHers ever done this?
Thanks,
HS
Edited by Highway Star on Monday 10th December 16:05
Thanks for the replies guys, much appreciated.
Not sure I like the sound of someone tooling around in our car for six months, returning it dented and then us being approached to pay (even though we'd been long gone from the US by then, but that's not the done thing).
We'll approach the used sales manager at the dealer in town - the car isn't low mileage - just over two years old and 30,000 on the clock (15,000 mile a year limited lease), but it is in good condition.
Looks like we might just have to suck up a couple of grand loss and just pay it off.
Most importantly it sports a PH sticker, which must add $$$$ to the value.
Not sure I like the sound of someone tooling around in our car for six months, returning it dented and then us being approached to pay (even though we'd been long gone from the US by then, but that's not the done thing).
We'll approach the used sales manager at the dealer in town - the car isn't low mileage - just over two years old and 30,000 on the clock (15,000 mile a year limited lease), but it is in good condition.
Looks like we might just have to suck up a couple of grand loss and just pay it off.
Most importantly it sports a PH sticker, which must add $$$$ to the value.
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