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anyone broken a lease before?

 
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RodeoRed
Almost Joe Isuzu


Joined: 09 Dec 2004
Posts: 5607
Location: montreal

PostPosted: Sat Oct 06, 2007 7:17 pm    Post subject: anyone broken a lease before? Reply with quote

so the wife and i have come to a conclusion - with a kid on the way the rodeo may not be the best vehicle for her and the baby to cruise aroudn in during her mat. leave. and selling it ain't an option.

i since i have a 2005 leased VW golf TDI, i did the math and if we buy two $10,000 vehicles the monthly payments would be the same as the the VW. i leased for business tax purposes- and will never make that mistake again.

so now the only hurdle is to break the lease.

i know all about the lease takeover business, and have registered the car on a bunch of the sites already but do not hold my breath at all.

am i totally screwed? there are 21 months left on my lease.
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'99 Rodeo 3.2 V6 A/T w/ 8" lift, 4.77's, Aussie Locked Rear
33" TrXus MT's, trailgear sliders, pacer flares
CB, superwinch 8000 lb & custom bumper,ProComp lights, custom rack, dents...
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cornfedp
Newbie


Joined: 12 Apr 2007
Posts: 63
Location: Beatrice Ne.

PostPosted: Sun Oct 07, 2007 10:28 am    Post subject: Reply with quote

I am reasonably sure you can buy your way out of the lease. Find out what the payoff is and go from there on your asking price. May have to kick in a few grand of your own. Confused
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RodeoRed
Almost Joe Isuzu


Joined: 09 Dec 2004
Posts: 5607
Location: montreal

PostPosted: Sun Oct 07, 2007 10:55 am    Post subject: Reply with quote

yeah i read my contract and to break tyhe lease i will owe any unpaid monthly fees, minus interest, plus dealer fees and other stuff.

my remaining monthly fees alone are over 9000 though....

eeks. may have to keep it.
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'99 Rodeo 3.2 V6 A/T w/ 8" lift, 4.77's, Aussie Locked Rear
33" TrXus MT's, trailgear sliders, pacer flares
CB, superwinch 8000 lb & custom bumper,ProComp lights, custom rack, dents...
http://www.cardomain.com/ride/2231794
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lowzone
Almost Joe Isuzu


Joined: 25 Mar 2004
Posts: 5132
Location: Bergen County NJ/Catawba County NC

PostPosted: Sat Oct 13, 2007 11:05 pm    Post subject: Reply with quote

cough cough burn it cough cough.....
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if i build it, it will scrape..........or catch on fire

I'm not a mechanic, but i played one in my garage......
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RodeoRed
Almost Joe Isuzu


Joined: 09 Dec 2004
Posts: 5607
Location: montreal

PostPosted: Sat Oct 13, 2007 11:07 pm    Post subject: Reply with quote

i think i may be okay - i owe my remaining lease payments + the buyout - what it can sell for. if that equals $0 then i owe nothing.

since i figure my car should go for a out what i owe and VW is not making deisels right now, i think i should be good....

heh heh heh. this means my truck may finally be mine. and only mine....

good god why did this have to happen only when i have a kid.... and no money. three years ago? i would have an SAS's rodeo.... now...bald mud tires. Crying or Very sad
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'99 Rodeo 3.2 V6 A/T w/ 8" lift, 4.77's, Aussie Locked Rear
33" TrXus MT's, trailgear sliders, pacer flares
CB, superwinch 8000 lb & custom bumper,ProComp lights, custom rack, dents...
http://www.cardomain.com/ride/2231794
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lowzone
Almost Joe Isuzu


Joined: 25 Mar 2004
Posts: 5132
Location: Bergen County NJ/Catawba County NC

PostPosted: Sat Oct 13, 2007 11:23 pm    Post subject: Reply with quote

cough cough burn it still....cough cough.....
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if i build it, it will scrape..........or catch on fire

I'm not a mechanic, but i played one in my garage......
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Gizmo42
Subscriber


Joined: 16 Sep 2005
Posts: 8244
Location: Aurora, Co.

PostPosted: Sun Oct 14, 2007 12:17 am    Post subject: Reply with quote



FIRE!!! FIRE!!! FIRE!!!

Hopefull all works out for you. I could never see the point in leasing a car. Get to drive new cars alot but then you are forever making payments and dont own anything in the end.
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onetouch wrote:

You're doomed Giz.
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lowzone
Almost Joe Isuzu


Joined: 25 Mar 2004
Posts: 5132
Location: Bergen County NJ/Catawba County NC

PostPosted: Sun Oct 14, 2007 2:29 am    Post subject: Reply with quote

Gizmo42 wrote:


FIRE!!! FIRE!!! FIRE!!!

Hopefull all works out for you. I could never see the point in leasing a car. Get to drive new cars alot but then you are forever making payments and dont own anything in the end.


some people do it for a write off on their taxes for business purposes. not always a good idea,but worksout sometimes. If you look under the hood of most newer cars, i wouldnt want to try to fix anything myself (a mechanic/customizer for 16 years now). the older stuff like the 2.6L and 2/3L isuzus are a walk in the park compaired to the new stuff out. Drive by wire, emission controls that Nasa couldnt figure out...etc....
Most warranties end about the same time a lease is up, throw in the keys and get in something new. say a truck is 35k to buy. you own it 10 years with minimal repairs, thats 3500 a year to own and the value of tha t10 year old truck is 20% of the original value 7k. you can lease that same truck for 350 a month for 3 years or roughly 12,600 and have a new one the next day...for another 3 years....basically you can have a new car/truck every 3 years and not have to fix a darned thing ever. yeah you dont have a $7k truck at the end of that 9-10 years but you also didnt have to do ANY repairs out of pocket either and have the luxury of having something new and reliable (except any GM product grrrrr Wink ) and relatively no worries. if anything did happen, the leasing company is backing you to get the vehicle fixed right. you buy a car/truck outright, its just you fighting the car mfg (i know first hand on this one) no bank to back you up, if something major happens. the bank owns the leased car,not you. its THEIR investment. there are pros and cons to each way, it all depends on what you can afford or needs.
just my .02
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if i build it, it will scrape..........or catch on fire

I'm not a mechanic, but i played one in my garage......
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RodeoRed
Almost Joe Isuzu


Joined: 09 Dec 2004
Posts: 5607
Location: montreal

PostPosted: Sun Oct 14, 2007 10:49 am    Post subject: Reply with quote

yeah i leased as a lease is 100% tax write off, and the game in my world is reduce annual income as much as possible to pay as little tax as possible - i file once a year.

but i think the monthly cost vs the tax benefit is not working out. i would rather have an older car i can tinker with and learn, i am not afraid of that. i still have huge "maintenence" costs at the dealer to continue the wrranty. they charge $85.00 per hour. Shocked

i need to off it. i love it -0 and will no doubt get another TDI but an older, less expensive, and bought one.
_________________
'99 Rodeo 3.2 V6 A/T w/ 8" lift, 4.77's, Aussie Locked Rear
33" TrXus MT's, trailgear sliders, pacer flares
CB, superwinch 8000 lb & custom bumper,ProComp lights, custom rack, dents...
http://www.cardomain.com/ride/2231794
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lowzone
Almost Joe Isuzu


Joined: 25 Mar 2004
Posts: 5132
Location: Bergen County NJ/Catawba County NC

PostPosted: Sun Nov 25, 2007 4:56 am    Post subject: Reply with quote

id never buy a new truck again....well atleast a GM product. i paid for mine in full and its the biggest POS ever. i honestly hate the truck. i cant sell it as i will lose my shirt on trade in, its 18 months old. keeping it for another year or 2 then selling it, get some value out of it. GM gave me a great warranty but every time i bring it in, they say abuse. the seat track bar broke in my hand, they said abuse, i said F$# you!!! i ended up fixing it myself...good thing i have a warranty. anyway, older vehicles are fun to play with but they always break at the worst time.....well so did my 06 GMC Canyon...so there Smile
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if i build it, it will scrape..........or catch on fire

I'm not a mechanic, but i played one in my garage......
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Dober
Mud King


Joined: 12 Mar 2006
Posts: 506
Location: toronto

PostPosted: Sun Nov 25, 2007 1:24 pm    Post subject: Reply with quote

What if the dealership has something older that you like on their lot? Maybe they will be willing to help get you out of that lease and in to something that works better for you.
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Blue
Mud King


Joined: 08 Mar 2006
Posts: 525
Location: Denver

PostPosted: Mon Dec 17, 2007 3:52 pm    Post subject: Reply with quote

With all the jokes about having a car fire.... My brother had a lease on a Camry, late one night he hit a piece of angle iron in the road. Sliced his rear tire, bounced up and hit his gas tank somehow. He pulled into a parking garage only to find the flat tire was the least of his worries. He didn't have his cell phone, so he ran down the street to call from a 7-11. The fire trucks beat him back to his vehicle. It was a total loss. The parking structure had security cameras which showed him driving into the garage with his Camry on fire. To make a long story short. The insurance company claimed arson, Toyota took him to court and he wound up paying for the Camry himself. On top of that there were crimminal charges to fight.

There are these new Toyota adds where people are totalling their current vehicles to get into a Toyota....

There must be people who actually do this. Because the police, insurance and auto makers will come after you, even if it is not really your fault. So if you have this in mind or it happens to you by accident, you better have the same lawyers OJ had. It will certainly cost you more than the actual value of the car.
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Automatic
75k miles
Trooper coil springs
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lowzone
Almost Joe Isuzu


Joined: 25 Mar 2004
Posts: 5132
Location: Bergen County NJ/Catawba County NC

PostPosted: Mon Dec 17, 2007 5:58 pm    Post subject: Reply with quote

Blue wrote:
he hit a piece of angle iron in the road. Sliced his rear tire, bounced up and hit his gas tank somehow........The parking structure had security cameras which showed him driving into the garage with his Camry on fire. To make a long story short. The insurance company claimed arson, Toyota took him to court and he wound up paying for the Camry himself. On top of that there were crimminal charges to fight.



you know thats how the Concorde blew up (metal kicked up and blew out a tire then the tank ruptured)....wonder if their insurance company claimed arson too??? man, a legitamate claim and he got screwed. that SUCKS
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if i build it, it will scrape..........or catch on fire

I'm not a mechanic, but i played one in my garage......
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dsrtrat
Mud King


Joined: 02 Jun 2007
Posts: 627
Location: Mesa,Arizona

PostPosted: Mon Dec 17, 2007 7:28 pm    Post subject: Reply with quote

i had an acciedent a year ago last mothers day. the asre in front of me was driving a 98 chevy 1500 with a 6 inch lift and 38's. he hit the center divider on the freeway ripping off his front driver wheel (brake caliper out). Which bounced down the side of my car hiting every panel on its way the police citied him at fault. his insurance company tried to fight by saying it was mech. failure and that they didnt cover that. so after 2 months of fighting they gave in only after i got a lawyer to call them.
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Those who would give up Essential Liberty to purchase a little Temporary Safety, deserve neither Liberty nor Safety (Benjamin Franklin 1759
'02 Rodeo LS 3.2 4wd,pw,pdl,6 way pds, moon roof, ISC suspension,31" tires w/18" chrome rims and bars (chrome package),in-dash 6 disc changer, tint
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