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Old 07-18-2007, 06:25 AM   #5 (permalink)
jguns2002
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Re: Can you get out of a lease early?

You can get out of just about anything if you're willing to pay for it. In my experience (sold cars and have helped about 50 people buy/trade them) you will be upside-down significantly. You may be able to trade the car & get a lower payment on a lot lesser of a vehicle, but you'll still take a pretty big hit.

Don't just look at the payment. Remember that you're adding that negative equity to new payment. I've never seen anyone get out of a lease w/out a special program put on by the manufacturers.

3 vehicles ago I had a GMC Jimmy that I leased. I hated the vehicle & wanted to get out of it, but I couldn't 14 months into it. At 16 mos, GM came out w/something they called the "Pull Ahead" program, which basically let you turn in your lease early w/out any penalties. The catch was, you had to buy a new GM vehicle. But still I was able to walk away w/out paying a dime.

I wouldn't waste my time driving 200 miles to just try and trade it.
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