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You can get out, Question is for how much (archive)

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Posted by Roman on May 11, 1999 at 08:44:22:

In Reply to: Another to get out of lease early??? posted by James H on May 11, 1999 at 00:20:27:

Most (perhaps all) leases have termination provisions. Depending on the terms of the lease -- specifically the residual, your car's current market value, and the termination penalty -- you may be able to pay the termination penalty, pay the buyout, and sell the car for enough to actually make money or, at least, not lose too much. My wife and I were able to do this several years ago on a RX-7 convertible -- it turned out that the car's resale value was high enough to allow us to walk away from a lease early and actually gain a little money. I think this result is rare, but the only way to find out is to (1) read the lease carefully to determine how (if at all) you can terminate the lease early and (2) assess your car's current market value. Good luck.

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