Wednesday, April 1, 2009

Returning a leased car consequences?

I'm leasing a nissan sentra 2008 for 38 months, I want to return it after 12 months so far, does someone know how much they gonna charge me for that? will this affect my credit? any tips and advices please.



WHY NOT JUST SELL/SUB-LEASE TO SOMEONE ELSE WITH THE LEASING COMPANY'S PERMISSION.... YOU PUT IT IN THE LOCAL NEWSPAPER AS "TAKE OVER LEASE", AND IF THEY PASS THE LEASING COMPANY'S CREDIT CHECK, AND IT IS AUTHORIZED BY THEM, YOU'RE OFF THE HOOK.




Not positive, but I'm pretty sure it will affect your credit. And for penalties look at your lease agreement; this will most likely list any penalties from returning the car early. It could conceivably be anything up to the full amount of payments you were obligated to make for the life of the lease (though probably not that much). Unless you have a fantastic reason for returning it (being sick of it doesn't count) returning it is a really bad idea.




You signed a contract to lease the vehicle for 38 months. If you do anything other than honor the terms you agreed to in that contract, it will negatively affect you.




will count as a repo unless you pay them the balance of pmts owed or sell the car and pay the difference between the payoff and value.

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