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Getting Out of a Lease?

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CausticMick

CausticMick

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Alright, so I bought (leased actually) a 2006 Chevy Avalanche on October 31st of last year. Absolutely love the truck. I can afford the payment. Well, could afford the payment. But just like the rest of you, I'm getting raped as Exxon is recording record profits with futures continuing to rise. I want to get into an Accord or something similar.. you know, 35 mpg opposed to 19 mpg. I have 3 1/2 years left on the 4 year lease. It was a dumb move, immature, being an ever-consuming typical American. Like I said, on top of that it's getting more and more difficult to fuel up. I went to the filling station this morning and couldn't fill up. Seriously. The pump stopped me at $75. This truck has turned into a mortgage. I've listed it on leasetrader.com, offering my $2K stereo system and alarm with it as well as the $595 payment to move the lease to the new leasee. Dropped $80 on that listing. Does anyone else have any suggestions? I'm a dumbass, but I've learned my lesson. Can't believe I made this mistake, considering I'm a "money-career" guy (retirement advice).

:smash:
 
There are a couple other lease trader sites out there too.


http://www.swapalease.com/

http://www.takemypayments.com/


You will probably never get what you need from any of them though, unless you negotiated a really good lease upfront. Your best bet if you really need to get out of it is to find out what your buyout is and see if you can sell it for anything close to that on your own, or find a dealer desperate enough to sell you a different car and pay it off for you.

If you have gap insurance, you could just find it stolen one day, or on fire.


Good Luck.

P.S. I would give my left nut for 19mpg right now.
 
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Chevy usually will let you out of the lease 6 months early if buy or lease another GM vehicle... I know that probably doesn't help much right now. I have 5 months left on a lease and then I'm getting a cheap car to drive around.

if all else fails just leave it in a bad neighborhood and let someone "find" it.
 
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The big gas guzzlers aren't moving off car lots. You can steal a Hummer if you want right now!
You could temporally park the guzzler and pick up .....say a small motorcycle or used small car.
 
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Taosman said:
The big gas guzzlers aren't moving off car lots. You can steal a Hummer if you want right now!
You could temporally park the guzzler and pick up .....say a small motorcycle or used small car.
Click to expand...

My thoughts as well. Buy a POS beater for everyday use...Keeps the truck in nice condition and the gas you save should easily pay for the extra insurance at $75+ per fill up...
 
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honda-rebel.jpg


Honestly, I wish I had some advice for you. I would have told you our "lease nightmare" story before you did this.
 
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You could check with the dealer you leased it from to see if they would cut you a deal to switch to a Cobalt (or some other GM product). You probably wouldn't get the best deal on the car, but it would reduce your fuel costs at the very least. You might lose out on some money right now, but you'll probably save over time. My fiance's parents lease and it seems like their dealer usually helps them out to keep them in a lease.
 
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Chudmeat said:
I have 3 1/2 years left on the 4 year lease. I've listed it on leasetrader.com, offering my $2K stereo system and alarm with it as well as the $595 payment to move the lease to the new leasee.
Click to expand...
Holy shit! So, you pay damn near $30K for a truck that you have to turn back in at the end of 4 years?

A truck like that would likely be a target for auto thieves...so be careful. They like to take expensive vehicles like that out for joy rides, and when they're done with their fun they end up torching them out in the middle of nowhere...leaving you having to file a claim with your insurance company.
 
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