THIS is the way I’d get out of my car lease..
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- Опубликовано: 26 сен 2024
- The only thing more difficult than getting a smoking hot deal on a car is getting out of a car lease!! Whether you're trying to do an early termination, a lease transfer, or a buyout, getting out of a car lease requires a lot of persistence and shopping around dealer to dealer!
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Get out of car lease early, getting out of car auto lease, auto lease early termination, ending car lease early penalty, car lease trade in, trading in an auto lease, ending existing lease for new car lease, selling leased car to carmax, carmax lease buyout, how to end a car lease, ending a car lease early, penalty for ending auto lease, ari janessian, boston automotive consulting
Keep moving your hands!!! Never change!!!
🤗😁 .. Edward I’ve got a Ridgeline video coming up for you soon!
I am Italian, we all use our hands when speaking, don't change
Hahaha .. love that!
Holy crap! You saved me $5,000 on returning a lease early. Thanks for making this video!
You just saved my life . I have 17 more payments left and really just want a car now that I really want. Definitely going to go this route by seeing what other dealerships have to offer
How relevant is this in 2024?
Great Information, my elderly father in law became to ill to drive any longer and Buick would not let him at of his lease and now he pays for a car he can’t use, I’m definitely going to see what CarMax can do. Thank you
OMG people tell me to stop using my hands when I talk too! 🤣 I just tell them I won't actually be able to talk, it's an extension of my voice lol!👐🏿
It's nice to know that there are in fact ways to escape a lease that you find isn't working out, but it is still a daunting task. But that is the business of leasing love it or hate it.
Here's a trick you can do if you want to purchase the car at the end of the lease: Now, normally I wouldn't do it, but I was in a bind at the time. First, I extended the lease for 6 months. It was a Toyota Corolla, so 6 months was the max that Toyota would do. I was biding my time, but at the end of the 6 months, I was still in a bind, so I decided to purchase the car. This is where I found out the secret. Toyota retains more value than most makes and I expected a high buy price, but what I found out was that the extra 5 months actually greatly reduced the purchase price. In fact, the car drops more in value in the extension period than it does over the last 8 months of the original lease. Had I purchased the car at the 36 month mark, I'd have paid a lot more for the car. Suffice it to say, the price was decent for a company that does not negotiate price on a lease purchase. My payment went up only $16 a month. So, if you are ever in a situation where you decide to buy your leased car, don't buy it after the original lease is up. Extend the lease 6 months or more if you can, then go ahead and buy it after that period runs out.
I know I was somewhat redundant here, but I think you get the idea. Of course, no matter how smart you are, the dealer is always going to have the upper hand, but as Ari shows, there are things you can do to lessen the blow. Now, would I ever get a lease with a $900 payment? Not bloody likely, unless it was a company car.
Do they not fix the residual value when u extend the lease.
How will reduction in car value change the residual value in the contract
you lose 27.5% of your enthusiasm and will to live when you put your hands down
LOL.. sorry John :(
I’m a finance major from an Ivy League school and there is no way an average joe was able to keep up with your explanation, remember those car salesmen and the back end finance guys are pros who know the in and outs and we r there for the taking , but that’s the way of doing business, but I do find your advice helpful, especially about bringing the car to car max for appraisal/purchase, I was hesitant about car max but you vouched got Them so I’ll give the consideration, all in all thanks for the advice and keep up the great work
Yeah I’m still confused on how he was able to get out a bmw lease while owing 21k in outstanding payments + the residual. Especially on a bmw x5 which depreciates like a stone. He must of still had to put down a good 15-20k to get out of that lease. A part that he left out conveniently.
I love it when you move your hands 🙌, don’t stop!
I’m in the same boat. Just leased a new Mercedes Benz Eclass and hate it already. 😂 only made one lease payment.
Same: I just leased a new 2025 Camry in June and I hate it I want out.. I don't know what to do😵
I returned a leased Honda civic long time ago. I kept super good care of the car and was a few thousand miles under the lease and got money back from the lease or a "trade-in" value on a new purchase..... I'm sure it made super good sense for the dealer.. I'm not saying I worked some great deal out of it but it was still cool because having leased cars in the past and having had to pay at the end of the lease this was a nice change.
Great channel Ari... I'm still shocked you only have like 5,000 Subs. That's crazy.... I'm not an idiot when it comes to buying or leasing cars but my next car deal in CA you're gonna work it for me.... wish I would have found your channel before I purchased my e53 AMG. Damn!
you look like the butler from mr deeds
Terrific channel!
Just found this...
Bought / leased five BMWs in six years... great advice. Helps sharpens my skills...
Thank you Clay, and welcome!!!
You do you.....keep your hands up.
😀💪🏼
I got screwed on my lease with Kia, had a optima SXL 18 car was fine two weeks after having it nothing but issues, finally got tired of it, went back to Kia to try and trade it in for another, looked at a cadenza they came with a payment of 995, so I went to Toyota leases a Camry XSE and took car back to Kia, and got hit with a 12,500 bill. Even after Kia still didn’t want help.
Hi Ari,
This is my first time watching your video and I LOVE this video so much! Your inner struggle to not use your hands so much, is absolutely adorable! Towards the end of the video, I do agree that the hand gestures are a smidge distracting but I truly did learn a lot from this video, so thank you!! 5 out of 5 STARS on this video! Great explanations, as I have taken two of my leases to Carmax and they bought both cars. I'm on my 3rd and I like my Jeep but I want a GMC AT4, so I'm not sure what I want to do just yet. But I had to commend you on your video and your humility. I'm a fan! #SUBSCRIBED
Thank you for all the valuable information!!! And please keep using your hands, it just shows your passion for the topic you’re talking about. I love your hand gestures... ♥️
Use your hands and words. Don't let anyone tell you what to do smh. Good channel keep it up
Thank you :)
There is nothing wrong about moving your hands. That's what they are there for aren't they... Keep it up and thanks for sharing this info :)
Thanks so much! I needed this. Did not know I had options when in my lease.
Tee .. I'm happy you found this, and thank YOU for watching!
I appreciate this lecture. I have 8 months left on my car, I cannot take it anymore my payments are $520 may not seem a lot but los Angeles it's too much. Mind you it's a Hyundai not a mercedes, why am I paying so much!? I'm hoping the dealer can hook me up if I get another car from them. Should I go to the exact Hyundai dealer I went to first? Thanks for your help, you made me feel better knowing you did it and you had way more lease months left.
You are awesome! I love all of your videos so much.
I’m currently leasing a 2015 genesis sedan AWD and have 4 remaining payments. I’m debating on getting out early so I’m trying to figure the best option and which car I want. I am also a “sporty coup” kinda guy, but the genesis sedan has treated me well.
Most dealers are shooting very straight with me as I understand mf, residual, and how it all works thanks to you!
Also, hands moving are great! They keep the videos exciting.
Keep doing you!
That's amazing Oscar :)))
I'm very happy you find the value in the content, and thank you for watching the channel brother. I appreciate the support!
I absolutely love this guy for his informative videos. He can waive his hands all he wants.
:)))
I have a 2017 Chevy Traverse with 2 months left in the lease and I'm waaayyyy over my miles with a bunch of dings and scratches. My plan was to turn the car into a carmax or other dealer. I'm also approved for a loan through my credit union for a new car at a great rate. I just found out today that GM Financial has stopped allowing lease buyout from other dealers as of yesterday July 1st. Now I don't know what to do, I don't want to deal with GM ever again. This is the lease from hell!
Excellent video Ari very informative. After hearing your X5 payment I’m glad I got the Jeep. Lol PS : Nothing wrong with your hands :)
Thank you Ted!!!
Your channel is a great help, I made a similar video on my experience as well but I find great value from your perspective. I personally never had trouble breaking leases for buying a car from the same dealer that sold me the lease, I just buy another car from that same dealer with no consequences to me. I enjoy watching your vids they are very informative thank you sir
Thank you brother ... which video is it? can you share here?
It’s kinda long..
Should’ve just totaled the car lol
The scene where Ricky Bobby kept lifting his hands kills me every time. Keep doing your thing man
Captive lenders aren’t allowing third party buyouts from Carmax/Carvana anymore, so OEM dealers don’t have to compete on appraisals at all anymore.
No brotha you keep those hands up!! Thanks for all the info
Great info, thanks! ...The hands thing wouldn't look so bad if you were further away from the camera. When you are that close to the camera it looks like the hands are coming right at me. Set the camera further back and use the zoom to frame yourself similarly into the picture.
I know this is a 5-year old video, but just saw it today in 2024. I have 6 payments left (lease up in October). I will keep my Hyundai Kona (2022 Limited FWD ICE, under 10,000 miles on it) until after the summer; inventory on the vehicles I'm interested in are low still and should pick up by summer. Of course, since I'm looking at another Hyundai or a Toyota, the models I would lease again are popular and have very low inventory.
My lease is up on my Nissan Sentra in September. I want to purchase a car - done with monthly payment. Going to do what you said - shop around at dealerships.
$910 a month to rent a car?!? Young people should learn to take emotion out of the car buying experience. Take that money and travel instead! Life experiences over material possessions any day! You’ll be much happier and feel better about money better spent.
If I choose the option to let the bank send the 2020 auto to the auction, is there reserve the bank will set for the sell of the vehicle?
I don’t mind if you use your hands but I find the 200 hard cuts in a 7 minute video hard to watch. But all the info was really useful so thank you!
Chris... thank you :))) I actually addressed this a bit in my most recent vids. Trying to do less jump cuts.
Ari Janessian- awesome 👏
It is all about the payment with leasing. Good for you. They play back o the contract.
gosh thank god i saw this im running to carmax when it opens to appraise my acura TLX i wanna get out of my auto lease!
Any luck? I want to do the same ):
You can always get rid of leases by going to the dealer and getting a car from them. They will take over your car and whatever payments left. Assuming you have a good original lease and the car is still in good condition. I did that twice. Or you can put the car online for a lease transfer. ( I did it once). Now I am leasing an SRT charger and thinking about a hellcat in the future lol. Most people think leasing is a bad idea but it's not if you know the numbers !
I have a 19 scatpack but now I want that widebody I wanna get out this lease and upgrade
Ari, I’m paying $400 a month on a fully loaded 2019 Outback 3.6R but am moving from the Northwest to California for a new job.
Suffice to say, I am considering getting out of my lease.
I have $12 k payoff on the lease
Great advice again ! Can always count on you, to give direct advice and strategy to gain a great deal !
Thank you Bob! :)
The manufacturer knew the dealer couldn't help you.
The only way I've seen people sell their leases is because they put a ton of money down on the lease(which you should never do) which brought their buyout down so low that it offset the value of the car.
Hi Ari, could you make a similar video to this one, but explaining the options at lease end. Specifically if you want to purchase the car, but the payoff is a lot higher than what the car is worth. Thanks.
Absolutely!
That’s called being upside down
I don’t think I will lease ever again and the reason why I messed again because they scared me with the finance cost
great information, but my head just blew up.
I admire you just the way you are.
I haven't even made my second payment yet. I think I will wait. LOL
LOL! How’d it go there Richard?
Good. I left comments on your Subaru video. Basically got the advertised lease deal for a more expensive car.
Shocked the sales manager with my level of preparedness.
I had to do a camera check at my job and I’m the video I just kept moving my hands lol WAY more than I realize lol 😂
Never change! Haha
Wish you could help me get out of my 2016 Jeep Patriot! I hate this car so much. Respect from Illinois. ✊🏽
Thank you for making this video!
Currently I have a 2018 Audi Q5 lease about 8 months into it and not really a car I like. Looks like payoff is $42k and KKB is saying around $38k.
I’m gonna definitely check out Carmax (Norwood) or Herb Chambers to see what I can get for it.
Carmax has really come in clutch for some of my clients Ken! Give it a shot
Great channel Ari, I also love the blue dj2 on your wrist 😄
MY MAN! thank you :))
I don't think all dealers will give you that option to pay the lesser of the two options. That was something either that particular dealer or just BMW offers. The fact still remains that you have signed up to pay the entirety of the lease payments. If a car company wants to they can make you pay the full amount. I wouldn't count on getting the same option that Ari got.
Also it doesn't make sense to accept negative equity from a lease AND give the car back to them. If they are just rolling your remaining payments into the next loan or lease you might as well just keep the car and actually get some use out of it for the money you are paying. If they roll money into the next lease you are still paying for the previous car without getting any benefit from it.
mpeg, what I am referring to is having the dealer purchase the vehicle from the lease company. this is an option on most if not all leases. essentially the buyout price is what they are paying, and if the value is lessor, the lease company has no say in what you're allowed to pay. you technically own it for what they are asking from you as a price to buy it.
@@negotiationguides That is not accurate unless you have fulfilled the lease payment obligations. The dealer can only buy the car for the residual once all of the lease payments have been made unless the finance company decides to just be nice and forgive those payments. You may have been presented this option but I don't think it is universal. Check the "payoff" amount on any lease. It always includes the remaining depreciation owed and the residual price plus the "buyout" fee. Sometimes dealers will forgive a couple or a few payments but what they are actually doing is rolling them into your next lease/loan or the manufacturer is giving them an incentive to accept the loss.
Right but you’re neglecting the fact that the difference in the two scenarios will often result in a lesser total amount due. Because the car has actual value, in this scenario, it’s being deducted from the whole balance due as opposed to the remaining payments + disposition option where there is no deduction for market value
Btw, most captive banks don’t have a buyout fee.
@@negotiationguides that would only be the case if the resale value of the car is above the residual and not below it. Honestly, this does not sound like a universal thing. It sounds specific to BMW. They actually have a special program just for scenarios like this. I don't believe every manufacture will offer the options you were given.
I leased a GC altitude 4x4 with 0 down at 434 rolling in 4 payments of 369 a month from a previous rav4. Fast forward when my car was due on Jan I received a letter from Toyota being told that my car was sold for profit at auction. I received half of the negative equity, plus over charge on MV of 300 bucks. Unheard of, but got lucky.
OMG, how confusing. My head is spinning!
Tell the haters you have a little Italian in you, hence the hand talking. The haters can just listen to you if they don't want to see the hand talking.
Use your words AND hands!
Sounds good a lopsided loan, the best way to give dealer free money , upside down loan negative equity.
Hmm, I have 9 months left on the lease for my 2017 Jeep wrangler unlimited. Monthly payment is $294. I've been dying to get out of it because I need more space for a growing family. This might be my ticket.
You guys are all amatuers!! On here!!! This is a really easy thing! You just have to be good at it!!
Never subscribed to a channel faster than this one, after watching this video!!!
payments less finance charge plus excess wear tear, * and tax ( less aution price) and fees, thats what you owe.
Good info. Thanks!
The lease or finance becomes expensive when you take the car out of the dealership and you star to cool off and the car loses value.
Over 900! Jesus Christ. Your first problem is even thinking about paying that much. I’ve got a 2019 F-150 and I pay less then $400 for my lease 🤦🏻♂️
Screw that guy vids are top notch no one minds your hands
❤️
I love your video’s! Keep doing your thing. I’ve learned in life no matter what you do you can not make everyone happy. Haters will always have something to say.
I'll just stick to enterprise. Less complicated and probably cheaper than what you've paid.
Haha! 🤣🤣🤣 Speaking with your hands. Not a bad thing. Just have to have balance. 🤣🤣🤣
LOL.. thank you!
Your hands are fine! No worry!
Great video with easy steps
Don't change
What can I do? The 4 cylinder model is painfully slow, it is not that fuel efficient, definitely not sporty. I used to have a BMW X3. What a difference.
I have a 2018 Subaru Outback 2.5i Limited with 24,000 miles. Residual value is $22,000 I believe. I still own 14 payments of $464. I don’t like this car and I’m dying to get rid of it.
The dealer is going to make the about same margin you trade in or not. There’s no discount either way except the incentives for new lease on a same brand.
I have a Mazda lease I’m unhappy with it. Mazda will only let me turn it into a Mazda dealership. I have 2 years left. I want a Toyota. Is my only option to buy the car and then trade it in?
I have 10 months or 10 payments left and roughly 500 miles left on my lease contract. Under the current situation with Ford having a boat load of inventory my value has dropped. Cannot trade to another brand. What should I do????
So i'm in a 2020 Gladiator, 15k miles out of a 3yr 30k mile lease, would you suggest the same Carmax for appraisal and then shop around?
Carvana gives you quote and that’s it...thy pick it up. Carmax gives you a quote n you take it to their dealership and inspect it - your rate may change. Carvana is lower but most convenient and as is on the quote. Traded in my GLC to Carvana
What if I wanted to switch my contract agreement to finance the car instead of lease?
I want to know this as well...please answer
Works on everything except ford leases? I can’t get an early buyout of my ford lease
So if I’m understanding this right-
Payoff - 25k
Residual payments - 17k
Auction price - 23k
I’m only on the hook for $2000?
👍🏼
Do a charger hellcat or scat pack please
To get out of a lease of a Charger Hellcat or Scat Pack? I am currently trying to do some research as well to get out of a lease on a Charger Hellcat and Trade it in for either a Trackhawk or Jeep SRT 392 due to family size increase.
Any luck with this I want to get out my lease I have a 19 scatpack charger but ready for a wide body now
What about trying to get out of a lease a week to 10 days after getting it?
Move your hands all you want! To those who hide behind a comment, "watch your words because they will be the fruit you eat."
Haha thank you :)
ARI ,Swing your arms and hands LOUD AND PROUD.....
So I’ve had my 2019 for about 4 months and I want to get out of it man. Can you give me any advice on what my options may be?
Ari, what is the best way to get out of a high interest loan where my car is worth less than what I owe? I owe about 5 grand over what it's worth, do I just continue to pay and rough it out until it evens out?
Can you make a video on what options you have if you are over milage on a lease? Asking for a friend lol. If you haven't already.
Definitely will make a video about this again..
P Linton you trade it in! And let the dealer buy it out! Negotiating skills are a must! Plan a strategy!
Wow, $910 is insanity. That's way more than some mortgages! I buy in cash. Keeps you modest.
You can’t finance anything with being modest no credit
Did not know you can "sell" a car you are leasing.
As long as it’s to a dealer!
@@negotiationguides I'm pretty sure you can sell it a private buyer too. Its just a hassle
I need help. I am in the exact situation. Let’s say Carmax only gives me $14,000 and I owe $20,000. I would like Carmax to buy my car in order to get rid of it. But I don’t have the extra $6,000. So my question is, can Carmax loan me those $6,000 so I can pay them monthly and the get rid of my car?
Can you do a new and used Tesla buying strategy video please?
What if someone stole and totaled the leased car would u be liable for it even with gap insurance?
Dustin most leases include GAP insurance and you won't be liable for that no..
Ari Janessian wrong! You are liable for the car! Insurance will pay!
AngeloR674 how are you liable if the car got stolen dickhead?
It’s that a voluntary repo?
But the repairs on the 2014 X3 were killing me.
Ari. Nice video and thanks for sharing lease termination options. I was anticipating you mentioning Swapalease or Leasetrader. I got out of my lease on a Toyota Avalon about 1 year early by someone taking over my lease. It took a few months to get the right person, but it did work. Have you considered that as an option? Thanks.
Scott, thank you too! Believe me, I wish I had a positive experience with LeaseTrader.. I had my car up on LeaseTrader for 6 months Scott eventually leading me to bite the bullet :(
At one point, the X5 had a $3,000 incentive bringing the payment down to $775! It was a $73k M-Sport.
Can’t do lease swap in RI ....
L Bear ? I did
Did it ruin your credit?
pretty good video...movement of your hands means the force is with you! I recently went through a divorce that was finalized last month...I'm going into month 4 of a 36 month lease of a 2019 Honda Accord Sport which I can no longer afford due to the divorce outcome...I owe $36362.55 would you recommend the CarMax route?
I would see what they'd offer vs. what the dealer is offering for sure..