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trellaine201
Nov 4th, 2009, 08:32 PM
I am currently leasing a Honda Civic 08 at around $200/month. I think I have approximately 1.5-2yrs left on the lease. I can afford the payments but I have found a car or other car that I am interested in or at least want the option.

What are my options for getting out of this lease?


If I goto a different company will they or can they buy out my lease?

What would be my best option?

Thanks
HockeyFan
Nov 4th, 2009, 09:03 PM
When dealers say they will buy out your current lease, what they really do is add your current lease amount plus extra interest onto your payments if you get a car with them. So in essence, they are profiting more off your "buyout".
trellaine201
Nov 4th, 2009, 09:07 PM
Are leases transferrable or does that depend? I don't have mine in front of me. I will have to dig it up.

I don't even have many KM on my car either.

Thanks
aleks
Nov 4th, 2009, 11:34 PM
With most leases you can have someone take over your lease if they get approved for the loan.

Another option is for you to sell your civic and use the proceeds to pay out your lease. This has to be done on the same day, pretty much you have to have the person buying the civic write the cheque to the leasing company. The trick is getting your buyout and trying to sell that car for close to that amount.

The final option is mentioned above where you roll the remainder of your lease + lease end value - trade in value to your new loan (this will cost you the most $$$).
trellaine201
Nov 4th, 2009, 11:38 PM
With most leases you can have someone take over your lease if they get approved for the loan.

Another option is for you to sell your civic and use the proceeds to pay out your lease. This has to be done on the same day, pretty much you have to have the person buying the civic write the cheque to the leasing company. The trick is getting your buyout and trying to sell that car for close to that amount.

The final option is mentioned above where you roll the remainder of your lease + lease end value - trade in value to your new loan (this will cost you the most $$$).

Hmm thanks :) looks like the most realistic thing is have someone take over the lease.