5 Ways To End A Car Lease Early (2020)
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- Опубликовано: 10 сен 2024
- In this video, I will show 4 ways to END a car lease early. All my recommendations 👉🏾 bit.ly/naamwynn
Ending leases early are rarely ever a good idea. But in certain cases you can cash out any equity you may have.
With that said, here’s what you’ll learn in today’s video.
First, I'll explain why you may or may not want to break your car lease. If you do decide and what to end your lease early, there are 3 things you must do before proceeding. Without knowing these 3 things, breaking a car lease may not be in your best interest.
Next, you will learn 5 different ways to break a car lease early. They may not be what you want to hear, but this will be the reality if you want to end a lease early. There will be a strategy to make money off your lease, so you want to stay tuned for that
In the end, you’ll know 5 ways to end a car lease early and if it's worth it for you.
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DISCLAIMER:
This video is for entertainment purposes only. I am not a legal or financial expert or have any authority to give legal or financial advice. While all the information in this video is believed to be accurate at the time of its recording, realize this channel and its author makes no express warranty as to the completeness or accuracy, nor can it accept responsibility for errors appearing in this video.
🔥 Learn all about car leasing here ----> ruclips.net/p/PL3P451EIH_bLTqzsdYUdwo5By6OxiBDa0
Thanks for the info. I’ve always steered away from a lease but we did lease a 2019 leaf (on purpose). Now needing to get out early, never dreamed it’d be the case
Good point on the fact that it's more expensive for them if you default. Sounds like they would be more than willing to find a deal that works for both people
Make sense from a business aspect.
@@NaamWynn the b roll is back though! And your lighting is always on point
Haha, I had too. The video is too dry without it.
@@NaamWynn let me know of it helps your retention
We returned our 2020 Chevy malibu early to the dealership and were told that they would send a pay-off check to,GM financial for the few months left on the lease. The opposite happened. GM financial beraded,us with calls demanding payments from us!
Just buy the car out and sell it yourself. Thats the best choice you have. Never trade in your car or go to dealer to do it for you. They will just rob you even more. Just remember, the more middle man you put between you and buyer, the more money you lose. That applies in anything in life not just car o house
Ahaha when you said stop making payments 😂😂 I laughed
What kind of advice
I like you sense of humor
Hey how are you sir ..I have a question about my leased. I leased my car about month ago .accaully my car monthly payment is expensive like $626 months I’m thinking 🤔 I’m gonna have to switch my Mazda ..to same company .different model like less payment monthly
I never lease but this is good to know if I ever do!
Haha awesome man. Leasing is definitely not for everyone!
Do companies like car max give you the full value so you can have a profit or is it better to go with a regular dealership?
is there a website where i can find cars from people who want to get out of their lease?
My brother in-law leases cars and a year later goes to a different company to lease with them. Trades the car in and leaves with a new car even if he went over the milage.
Great job 👏 👍
What If You haven't made your first payment in the lease and want out, or want to just get another car and maybe the same type of vehicle.
Like a Toyota truck your leasing and now after getting the truck you just want to finance a different color but the same model truck and keep it for life.
7:14 You can't buy out with Tesla ...and this why their lease is ughhh. On the plus side, the tax credit helps bring down the capitalized costs to make the lease payments and early termination not so bad...
Thank you so much!!! This video is everything I needed to know!!!! 👏
I'm 3 years in on a 5 year lease with my 2018 Toyota Rav4 le. My buyback is 20931+ tax. I want to return it to buy a 2017 Sienna. I'm staying with the same dealer. I was told that dealers usually waive off fees etc when you stay with them for another car. Is that true? I just want to return the lease and start fresh with them.
Great video Nam. Smart topic to cover because a lot of people lease cars and want or need to get out of them. I can think of a few. I’ve only leased one car and it was a good experience but not sure if I would again.
It’s pretty tricky to exit leases early. Its usually best to hang on til the end.
Hey I’m working on getting out of a lease that’s only 3 1/2 months old do you think returning it is a good enough option since my car wouldn’t have lost much if any value
Did you return it?
I’m only 5 months into a lease and was lied into thinking the car would be able to hold a trailer hitch. It doesn’t without violating the lease, what do I do?? I made a huge misfams
What happens, when the person that leases a car dies??, are the closest family members liable for that lease?? Thank you
Quick question, my car lease payment is about $300/mo. During this pandemic, my restaurant is closing for 3 months. If i tell the car dealer that i can only make $150/mo until my workplace reopen, will i still have to pay back the other $150/mo for those 3 months later?
That’s something that you have to work out with a financial company. I imagine that they will probably just extend your lease.
Let’s say I want to return my lease to the same dealership, and outright buy a pre-owned vehicle. Do you think the dealership would accept buying the car back, and allow me to finance a pre-owned vehicle?
They will, but most likely they will not buy the car for the payoff price. It’s similar to trading in a vehicle it’s hardly ever a good deal but it is possible to roll over any money that is due on to a new auto loan.
What if u go over mileage can u work w dealership
Thanks for sharing, really a lot of good content in this video. Finding the best choice to return that lease can be useful and save a person a lot of money.
Thanks Tomy! Ending leases early are usually a bad idea, but if they have positive equity then they are in the clear.
If im on a 4 year car lease...can I trade in my car within two years of my lease? I have a Audi and want to get into a BMW
Question, my lease is up this month but my registration expired last month (the vehicle was a demo). The registration for the year is $550, the bmw dealer i called said the vehicle has to have current registration. Im in California if that makes a difference. Is this true? Or should i find another dealership?
Your production value is so good! I'm so jealous, lol.
Haha. Thanks man!
Fiance went to finance a car and his dad was his co-signer, after he went to pay the down payment I decided to end my current lease and added the remaining balance on a new lease, (two different contracts) a week later he receives a call saying the down payment wasn’t received and that he needed to go and pay that.... the dealership was suppose to send a check to my old lease company for the remaining balance on the car since I added it to my new lease and now they are saying they aren’t going to send it because he owes them money.... mind you our contracts aren’t combine and his dad co-signed for him car not me so I don’t understand why they are holding the check for my car
Do you think a dealership would trade your car during COVID ??? I’m thinking to get rid of my lease in the most positive way . I don’t want to ruin my credit since I’m trying to buy a home soon.
Hey my lease is up in about 2 months. I have positive equity. I’m not planning on leasing another car or even buying a car from that same manufacturer. That being said, can I take my car to a different car manufacturer and sell it to them and apply that positive equity towards a down payment? Or do I need to take it back to the original manufacturer to get a check for the equity?
You can sell the car anywhere. They will handle it like a trade in.
Naam Wynn awesome. Thank you so much for responding
Can you return a car early and continue to make monthly payments if ending the lease as a whole is to expensive
Lease swapping only accepts year 2013 & over
great video man! Just hit that like button
Brilliant!
Okay I'm 4 months ahead on my car payments I guess the principal and the bank stole the car back what do I do
Hi. So my lease contract will end on September but I will already be deployed at that time. I’m also planning to buy it out and get a car loan. Am I still able to get the necessary documents while I’m deployed?
If you have a power to attorney signed before to deploy you can have a family member handle your documents while you're away. Another option is to buy the car and get it financed now if you planning to keep it. You can payoff the car at anytime, so you wouldn't have to wait when the lease in ending.
Great information
Thank you
I don’t want my crosstrek anymore but I’ve just completed one year of leasing
I simply want to pay it out
Would it be smart to finance a car from a lease & trade it in to another dealership?
Great video! One question in regards of selling a lease, would it affect your credit score in any way? I want to sell my car to a third party and after pay the leasing company that money.
You would most likely get a boost in your credit, since you won't have any debts. It's like a paying off a loan.
Naam Wynn didn’t think about it that way thanks for your input!
I have a lease with Toyota for a Toyota Prius, they called me and they offered to buy my car to get if the lease earlier, my lease expires March 22 ,2022, what can I do ? Do you think would be worse selling the car to them ?
It best to sell to a different dealer than the one you brought from
I need help
We Trade in a car but the monthly of the car is a $1000, is it better to buy out the car. What about the finance of the trading? What's going to happen to it?
Try to my mom, hard time 😭😭😭😭😭
Doesn't CarMax low-ball like crazy? You would end up paying so much right?
I found Carvana to be better, but CarMax is still better than a dealership. You really got to shop around to find the best offer.
Just trade it in to a dealer early. Easy peasy.
Question for all - my lease expires shortly. When I return the vehicle, what do I do with the state registration certificate?
In most states you transfer the registration. The title is normally held by the bank or leasing company
Question, I am reviewing my leasing contract and no where does it say anything about early termination. Does that mean I can turn in without penalties?
Most of the time they do, but if it does not say it anywhere then possibly. I would consider calling the financial company first to confirm.
When I leased they charged me a fee when I returned the car but when they saw that I took another lease car they said forget the fee!?!?!? Why was that?🤷🏾♀️
There’s a disposition fee when you turn in a lease. Many dealerships will waive this fee if you lease another. It just a way to keep people leasing.
What if the car you want is actually cheaper than the current car you are leasing for a trade in
Hii can I return my car in 3 days?
REMAINING LEASE PAYMENTS….LOL ILL just stay in
If you sell the lease even with positive equity, you’d still have to pay the remaining payments of the leased car too right?
No, the sell price should cover the remaining payments and the buyout price.
What happen if you got ripped off and the sell price do not cover the payout amount
I agree-we sure do love to sue-probably because of all the damned attorneys advertising on television, putting get-rich-quick ideas into people’s heads.
Hey naam Wynn I just leased a 2020 Honda Accord for a couple months now and I still owe them $9000 I really want this Infiniti but I wanna buy the the Infiniti I’m trying to figure out what should i do to end my lease early to get into this other car
I never recommend to get out of the lease early, because there's so many cons on doing so. The one way that's gonna be the least expensive way, is by swapping the lease with someone else or if someone's willing to take it over.
You also can try to sell the vehicle to, so you can pay off the remainder of the balance, but you may be in the hole this way as well.
I’m in this situation right now. Going to buy the car and sell it
Hello, I'm currently enlisted in the Marine Corps. I'm really considering the USNA and have just submitted the preliminary application. I only have one issue. I just got into a car lease and I was wondering if getting accepted into the USNA and leaving the enlisted side (Which means I wouldn't afford the car anymore) would allow me to terminate my car lease early. On a side note, I'm deploying later next year and under the Service Member Relief act, I can turn in my car lease without penalties and fees if I'm deploying for more then 180 days, which I am. So that is the whole reason I entered the lease, but now I have a shot to attend the USNA and that car lease is worrying me because I obviously can't pay for it if I go to the USNA. Any advice would help, thank you!
lease only makes sense if you can write off for business.
Question! Im leasing from honda, and say if I’m in the negative and they made me pay 2k. If CarMax would “buy” it off me and I only need to pay 1k for them to take it off me..... do I need to worry about taxes? Also, would I just pay the 1k for CarMax and not have to worry about anything else? Or would I have to call my leasing company to let them know that CarMax will be sending them a check for payout? My lease ends in June ;(
How did it go !???
@@ellapanda1425 I had to pay the taxes and return fees :(
I have a honda lease too. Do you know if it affected your credit ??
Lilychanex was it a lot ??
@@ivyhernandez5546 no, if you sell the lease your credit should go up because the company is paying off the loan and giving you what’s left.
Naam, *do you lease?*
I do. I currently have one.
A repo stay on your credit for 3 years
Actually it’s 7
nothing but bad news
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