alanbrenton
Mar 6th, 2008, 10:55 PM
I've been reading so much about auto loan defaults in the US.
How exactly does a buy-out work prior to the end of the lease contract? Do you just pay the net present value of the future lease payments on top of the stipulated buy-out price? Or will you have to make those remaining monthly payments without any discounting?
For a Canadian, obviously we cannot continue making the lease payment.
Would there be reputable US companies like Lease Buster (here in Canada) that will faciliate lease buy-outs for Canadian vehicle shoppers?
If the 2nd hand vehicle market is so much larger and default rates increasing, I would expect more choices and better prices when buying out American's leases.
Any experiences or thoughts on this? Leasebuster listings are not too compelling even with the recent decrease in financing/lease rates and vehicle MSRP's.
How exactly does a buy-out work prior to the end of the lease contract? Do you just pay the net present value of the future lease payments on top of the stipulated buy-out price? Or will you have to make those remaining monthly payments without any discounting?
For a Canadian, obviously we cannot continue making the lease payment.
Would there be reputable US companies like Lease Buster (here in Canada) that will faciliate lease buy-outs for Canadian vehicle shoppers?
If the 2nd hand vehicle market is so much larger and default rates increasing, I would expect more choices and better prices when buying out American's leases.
Any experiences or thoughts on this? Leasebuster listings are not too compelling even with the recent decrease in financing/lease rates and vehicle MSRP's.