kimchiFLAVA

i got 2 more years on my c sedan i want to get out since i think it is too flashy.

anyone have any ideas on what i can do?

i put 8 grand canadian down and pay 650 canadian a month

if i am going to not come up with any money back well then i guess i'll keep it but man i luv the car just i noticed alot changes when i got the car i dun really like

Matt230K

You certainly are not going to get any money back. It's usually very costly to buy your way out of a lease. The best thing to do is try to get someone to assume your lease and take over the payments. You will essentially break even. There are websites such as Swap-a-lease that you can post your car on kind of like a for sale ad, but for assuming leases instead.

LorinserCClass

Yup, trying to get out will be rather costly. Trust me. You are much better riding out the two years and then giving it back so you could break even. The car is too flashy? Unflashy it! Don't wash it, um curb a few rims and put t-shirts on the bucket seats. Yup, I think you can unflashy it that way without hurting your pockets.

When you swap a lease aren't you still on the contract?

Buellwinkle

Have a friend with a 2001 C320 and wanted to get out, at the dealer it would cost him 12K (US) to get out and if he sold it himself it he can probably keep it down to half that loss if he's lucky. Don't commit to a lease unless you understand the terms and are willing to stick it out for 4 years, something I can never guaranty.

There are websites that help you sell your lease, don't remember the exact URL but I've looked at them before as a way to get a car short term with no money down and in some cases they even offer up a few payments to make the deal happen. Car's have lost a lot of value in the past few years, hang in there, in a few more years you can turn it in for the turn in fee.

Good luck....

LiquidSmile

Yeah it is tough to get out of a lease unless some one steals it or you happen to total it.. *cough* *cough*

BenzC240

Yeah agree also, leases suck. They are greate for someone wanting a car they cant afford. But thats how they get u. I never lease. But i know u r stuck with it. u need to do alot of research on the net and find topic concerning this. also go to your bank they may give u more advise. it doesnt hurt.

also LiquidSmile's idea sounds very good, leave the doors unlocked, park the car in a down town bad area and just go back home and sleep, that lease may end real quick for u

BenzC240

forgot to add. i do agree with u, the sedan is flashy. i get so many looks and compliments its sick. the bad part is they think u r very wealthy and some times thats not as good as it sounds. good luck to u

LorinserCClass

But make sure you got at least GAP insurance or otherwise you are back to square one.

Benzer

the Insurance will pay the market value - not the amount you own. So you still have to cough up( no punt intended ) the rest.

There is just no way out. Sorry.

BenzC240

true, forgot we are creating the perfect crime, get GAP insaurance first

true u will have to pay alittle still to get out but this seems to be the most cost effective way just make sure the car is gone, maybe put a note inside that said "i better not see this car again, the keys are in the glove"

just messing with u "still i didnt say it wouldnt work"

BenzC240

true, forgot we are creating the perfect crime, get GAP insaurance first

true u will have to pay alittle still to get out but this seems to be the most cost effective way just make sure the car is gone, maybe put a note inside that said "i better not see this car again, the keys are in the glove"

just messing with u "still i didnt say it wouldnt work"

Matt230K

Yeah, I've heard that before. I think you esentially become a cosigner, which isn't a good thing if you don't know the person taking over the lease. I don't know if this is the case with every bank, but I think it is with MB Credit.

loungeliz

The way I see it you have three options:

First: Get someone to takeover your lease. since you're in Canada you could use Lease busters $295 to list and attempt to get out of your lease (leasebusters.com).

But I don't think that will work for you. You put too much down. Swapping out of a lease only seems attractive to the person taking it over if you kick in cash. People won't care too much that you put a lot down. eg. Let's say you put zero down. You could say to someone take over my lease and I'll pay you $2,000. However if you put $6,000 down, the same proposition would be, pay me $4,000 and take over my lease. They are the same offer but what sounds better? In each case the person taking over your lease is ahead by $2,000, but the first offer seems much better. You'll be competing against folks that put zero down, it's a tough sell. I think the lesson is put zero down on a lease, you never know if you need out...

Many dealers will also takeover your lease (with the hope of releasing to someone else). You'll take a hit though, and they may only do this if you are buying/leasing another one from them.

The second option, and I think your only realistic one. Is to call your leasing company and ask them what the payout value is on your lease. ie. you have to buy the car outright from the leasing company then sell it however you choose.

No matter how you look at it you're going to take a hit getting out... you just have to figure out what is the smallest hit and the most convenient way out for you...

ooops forgot to add the third and final option... keep your car...

Matt230K

Not necessarily. For example, if you do a 3 year lease and get rid of the car in one year, the new owner will be able to get a 2 year lease at the price of a 3 year lease. It's a much cheaper way to get a car for a short period of time.

I'm not positive, but I don't think dealers do that or can do that. Usually, a dealer has to buy your car from you and then you pay it off with the leasing company. So if your payoff is too high, you're still going to lose money. But I could be wrong. Maybe dealers can take over leases.

Mike T.

$8K down and $650 per month? I sure hope it's a C32, that is one hell of a nasty lease fee considering you put 8K down! As you probably know, M-B Canada C 230 K leases start at $399/month for the base version.

What exactly is the problem you're experiencing with driving the car? Does everyone think you're a snob, do you get cut up in traffic? If these are the problems, I'd suggest living with them for another 2 years and then moving on....to a purchased vehicle.

I think leases can only be justified if you can write down part of their cost on your income taxes, because you use the vehicle for a business. But you can write down depreciation of an owned asset (vehicles included) in the same manner. I also think that keeping a car for under 10 years is nuts. So as you can see, my opinions are not that fashionable