604_kpEscoba

well i seriously am thinking of getting a new car hopefully in approx. 6 monthes. in about that time that would make my car 6 monthes old.

i have a question regarding my lease term i intially put $8000 canadian down(incl tax and secuirty Dep.) at the beggining making my payments all 6 mothes so far at about 600 a month
the kilometers are at approx.14000 km (avg.) and by 6 monthes should be 24000km.

what are my options for selling i know i have many but what in your opinion is the best?

i can put an add in the paper for take over lease

i can sell to private owner and then buy out the car over the lease

i can trade it in for the new car i am buying

i can give it back to the dealer giving up the lease

which would i have better chance in doing and if any suggestions and information is appreciated thanky ou

LorinserCClass

Honestly, I can tell you out of personal experience you are looking to be in the hole 5-8k depending on who you sell to. I tried 2 times to get rid of my car the first time I was 5500 in the hole and I though that was crazy so I walked. Second time I had a friend that manage a dealership so he was going to "hook me up" this was last week new kelley blue book just came out , and the best price he could put me at w/ the value of my car is 8100 upside down w/ my car and that is them buying it at close to kelley blue book w/ my hookup!!!!! Market on the C-Class is to soft right now especially w/C240. When I originally bought my car I got a 4 yr lease w/4000 down 460 a month. I am almost 2 yrs into it. So to address your question, honestly don't do it it is not worth it. It is hard to get out unless you put down what you are upside down + new down payment. 2 yrs ago I had done that I rolled negative equity on a GST-Spyder into a Toyota Highlander and they bend me over and f'd me man. It is not worth it. Do what I did just use all that money buy a set of rims, kit and drop and you will completly forget about another car.. trust me....

CHECKMATE

The only advantage to a lease unless the vehicle is used for business with attendant write off is the lower monthly. Once in, there is really no clean way out w/o taking a heavy down side. Even if you are within a month or so of completion and turn in for a new car the lessor will nail you for the remaining payments.

The only ray of light is if you have a very high residual value and the market is hot-you may be able to sell high enough to pay off remaining lease + penalties and clean a few dollars. Not likely particulary in todays market.

Best advice, ride what you have, save some $ to down on your next car after lease completion.

tberry

If your friend really wanna hook you up trust me he can do KBB value....thats no friend....I heard that Lexus dealer usually will give good $$$$ back for German rides (of course the cheapest thing u can get ther is IS300). Either way, lease sux if u have to end early......I hope i dont.

MacPhisto

If you can write a car off, you can write it off, whether you lease, purchase on payments, or buy for cash.

If you lease, you get a deduction for part of the lease payments.

If you purchase, you get "depreciation," which is the equivalent of a lease payment "writeoff."

(There can be some differences depending on how long you keep the car).

604_kpEscoba

thanks for your replies

well i see keke i know slam it wheel it and a kit thats what i need to do. but there s other reasonsi need to get rid of it..

aww well*sigh*


anyone else have there 2 cents?

Outland

What? Did your brother dent it again?