Our lease on the 2006 E350 is up December 31, 2007. It is for 12,000 miles a year.

If I reach the magical 24,000 miles before December 31, 2007, can I drive it to the MB dealer and turn it in? Can I be done? I don't want the car after the lease is over and can see no reason just letting it sit in the garage paying insurance on it. I have 2 other vehicles to drive and wouldn't drive it over the mileage cap.

Just curious if they would take it back as I've gotten the mileage on it or force me to keep it until the 24 months is up.

Thanks.

So you think that because of miles you can avoid the monthly payments? Nice try.

That would be cool, but young grasshoppa, I have made one giant payment "one-pay" I think is what MB calls it.

Anyway, it's paid up through the term of the lease.

I guess, that would be an important tidbit of information that I forgot. D'oh!

They'd prolly make u still keep it till its the end, but I'll wait for the experts to chime in!

At $.25/mile, driving 1,000 miles a month over your allowance means $250/month for the use of the car until lease-end. You've got to really want out of the car to forgo such a cheap deal.

Did you get a discount for doing it this way? If not, I'm not sure that makes a great deal of financial sense.

If you've prepaid the lease amount in full why wouldn't they be thrilled to have the car back sooner? They have your money and more months to sell the car. I'd be shocked if they didn't take it back immediately.

lease termination fee
I'd just keep it and drive it, or just park it and cancel the insurance until the lease is up. Then just start the insurance a month or two before you give it in. Give them a call and see what's what

With the MB one pay lease dealio, there is a small discount versus paying it monthly. Not much, mind you, but enough to make me do it that way.

I really hadn't thought about the 0.25/mile fee that I would incur if I went over the mileage cap...it really is a cheap payment if I run up the miles...but technically, I've paid a monthly fee already to use that car for that month as well, so I'm paying double. Hence, the rationale to turn it in.

I probably won't be but about 1 month early or maybe only 3 weeks ahead of the mileage game.

I agree with slk55lvr as they should be happy to get it back early. I would be if I were a dealer.

There is no lease termination fee in my contract, trust me. Insider employee help with the lease.

I wouldn't cancel the insurance as it would be my luck that the garage imploded on the car and I'd be left holding the bag.

Thanks fellas!

Leasees are required to keep the car fully insured with the leasing co as payee. If you drop the insurance they consider it a breach of contract and will repo the vehicle and charge you and even sue you for the costs to insure the car. Its obvious that you have no understanding of contracts and even ethics

Theres no ethics is car sales

PHXATC- You're right, you have already paid a monthy fee for the vehicle but you've over driven on miles. So you're not really paying double, your just paying for what you over used. Leasing is basically paying for what you use. You've used more than you were allowed, so of course you've gotta pay for it.

Also, not insuring, if the lease company finds out there isn't insurance all they will do is put there own insurance on it. Only at an extreme rate, not repo it and sue you.

Yes initially they will place insurance on it at your cost. However this is an interim fix so the car is covered. Eventually they will repo and sue for the balance due including their insurance at a very high rate. Dropping insurance is one of the most common reasons for a reposition.