Break a Lease??
#1
09-19-2004, 08:27 PM
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#2
09-19-2004, 08:40 PM
Re: Break a Lease??
You have to refer to the terms on your contract. After a certain number of payments you can terminate it. The cost will depend on the contract terms. However, if you've had that many problems I would first look at seeking relief through any applicable lemon laws. You have a booklet on that in with your owners manual kit.
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04 G35SC | Diamond Graphite | Everything exc. Sat (coming in Dec.!)
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#4
09-19-2004, 08:54 PM
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#5
09-19-2004, 11:08 PM
Re: Break a Lease??
I'm sorry to hear about your problems, but your rear seal problem with water in the car is a problem with the REPAIR, not with the car. I realize that sucks, but that is not a factory defect.
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#7
09-20-2004, 11:20 AM
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#8
09-20-2004, 11:34 AM
Re: Break a Lease??
The stereo equipment vs the rear seal leakage will be interesting since you probably didn't list it with YOUR insurance company when you modified the car......requirement of most policies.
You'll end up suing both the dealership service department [ or who ever did the repairs] and your insurance carrier.
You probably accepted the accident repairs as satisfactory in writing without having an outside unbiased [paid by you] expert examine your repaired car.
There is no way to break a lease other than the ways listed in the contract without serious consequences.
You are required by the leasing company to return the car without fault............you let the repairer of the hook so now the leasing company can come back at you to further repair their car!
Think carefully about informing the leasing company of the trunk leak and damage as this info obligates you to resolve the repairs.
You'll end up suing both the dealership service department [ or who ever did the repairs] and your insurance carrier.
You probably accepted the accident repairs as satisfactory in writing without having an outside unbiased [paid by you] expert examine your repaired car.
There is no way to break a lease other than the ways listed in the contract without serious consequences.
You are required by the leasing company to return the car without fault............you let the repairer of the hook so now the leasing company can come back at you to further repair their car!
Think carefully about informing the leasing company of the trunk leak and damage as this info obligates you to resolve the repairs.
#9
09-20-2004, 11:54 AM
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#10
09-20-2004, 03:19 PM
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Re: Break a Lease??
Is your G lease with infiniti? I had leased my sedan but it was through Chase and they actually had a lease buyout amount at the of each month. I told the dealer what the buyout was and next thing I know I'm driving away in a coupe! I guess that shows that the car retains some good value, if even a leased car can be paid off in full on a trade.
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#11
09-20-2004, 03:46 PM
Re: Break a Lease??
if you leased through infinit :
How do I qualify for an early termination quote?
In most states you must have made 12 payments in order to be eligible to do an early termination.
Your account must be current.
Your lease agreement requires you to provide a 30-day prior written notification requesting an early termination quote. Please contact our Customer Service Department at 1-800-627-4437.
How is an early termination/quote calculated?
An early termination fee is the difference, if any, between the unpaid adjusted capitalized cost and the fair market wholesale value of the vehicle. This basically represents the present value of monthly payments not yet due on your lease and the purchase option price less the wholesale value of the vehicle.
http://www.infiniti.com/ownership/Le...0.html#AS25214
How do I qualify for an early termination quote?
In most states you must have made 12 payments in order to be eligible to do an early termination.
Your account must be current.
Your lease agreement requires you to provide a 30-day prior written notification requesting an early termination quote. Please contact our Customer Service Department at 1-800-627-4437.
How is an early termination/quote calculated?
An early termination fee is the difference, if any, between the unpaid adjusted capitalized cost and the fair market wholesale value of the vehicle. This basically represents the present value of monthly payments not yet due on your lease and the purchase option price less the wholesale value of the vehicle.
http://www.infiniti.com/ownership/Le...0.html#AS25214
#12
09-20-2004, 06:06 PM
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Re: Break a Lease??
yea i just contacted my leasing company and told them what was going on. they said that it was not a manufactor problem so they cant help me out. i have to deal with the issue directly to the dealer. who i went to this morning and it seems as if they dont want to pay for the damages but im going to fight for it.
Now i cant end my contract because I have 24 months remaning. so id have to pay all of those months.
I know some dealers do Trade in for lease vehicles. has anyone ever done that? is there a catch? i know theres something about that but im not sure what. can someone help me out. thanks.
Im looking into a 04 SVT Cobra
Now i cant end my contract because I have 24 months remaning. so id have to pay all of those months.
I know some dealers do Trade in for lease vehicles. has anyone ever done that? is there a catch? i know theres something about that but im not sure what. can someone help me out. thanks.
Im looking into a 04 SVT Cobra
#13
09-20-2004, 07:02 PM
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#14
09-20-2004, 07:53 PM
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Re: Break a Lease??
Let me explain how to get rid of a leased car (early termination) since I've been through the process myself. First off, let me state that you do have a few options (they are limited, though and not very flexible). Basically, every single day of your 36 month lease, your car has a price tag over its head which determines its value at that point in time. This value represents the price of the car based on depreciation of the vehicle, your monthly lease payments, age of the vehicle, etc.
Now this value, commonly knows as the "buy-back" or "buyout" value is the price you have to pay to purchase the car from Infiniti, which makes you free and clear from Infiniti's lease. You can find out the buyback value of your car usually by calling an Infiniti number in which a representative or an automated system will tell you your car's current buyback value, among other things.
Now let's say you call up Infiniti and findout that the buyback value for your car this month is $30,000 (i'm just pulling a number out of my ***). You have two ways to get rid of the car. You can hop over to a dealership (let's say a BMW dealership) and tell them you want a 330Ci but you have a leased car you want to trade in. Now this dealership will evaluates the car and says they'll give you $27K for the car. So on the day of the deal, when everything is finalized, basically you hand over your car and $3,000 (the $30K buyback - $27K tradein value that the dealership is giving you) and you are free from your lease. The dealership takes care of the lease termination/vehicle buyout, you're out $3K and your G, but you're free to get into that new 330Ci.
Another way you could get out of the lease is to just sell the vehicle privately. Find somebody who offers you $29K for the car (selling privately typically gets you a higher sales price for your car since you're doing all the work) and call up Infiniti and tell them you want to buyout & sell your car and you basically do all the work.
I know this post is long and it seems complicated, but it's really not. Basically, go to the dealership for the next car that you want, explain your situation, and they will know exactly what to do. In one shot, you'll trade in the G and whatever you "owe" on it and you'll get into a brand-new problem-free (hopefully) car.
You can also just pay off the value of the remaining 24 months of your lease and give the car back to the dealership, but that is a huge waste of money.
You could also just terminate the lease contract and Infiniti will give you a bad credit rating thing and you probably won't be able to lease a car again, but you'll be out of it pretty much free & clear (although that's really not the way to go, either).
____________
MrElussive
03 G35C 6MT
Now this value, commonly knows as the "buy-back" or "buyout" value is the price you have to pay to purchase the car from Infiniti, which makes you free and clear from Infiniti's lease. You can find out the buyback value of your car usually by calling an Infiniti number in which a representative or an automated system will tell you your car's current buyback value, among other things.
Now let's say you call up Infiniti and findout that the buyback value for your car this month is $30,000 (i'm just pulling a number out of my ***). You have two ways to get rid of the car. You can hop over to a dealership (let's say a BMW dealership) and tell them you want a 330Ci but you have a leased car you want to trade in. Now this dealership will evaluates the car and says they'll give you $27K for the car. So on the day of the deal, when everything is finalized, basically you hand over your car and $3,000 (the $30K buyback - $27K tradein value that the dealership is giving you) and you are free from your lease. The dealership takes care of the lease termination/vehicle buyout, you're out $3K and your G, but you're free to get into that new 330Ci.
Another way you could get out of the lease is to just sell the vehicle privately. Find somebody who offers you $29K for the car (selling privately typically gets you a higher sales price for your car since you're doing all the work) and call up Infiniti and tell them you want to buyout & sell your car and you basically do all the work.
I know this post is long and it seems complicated, but it's really not. Basically, go to the dealership for the next car that you want, explain your situation, and they will know exactly what to do. In one shot, you'll trade in the G and whatever you "owe" on it and you'll get into a brand-new problem-free (hopefully) car.
You can also just pay off the value of the remaining 24 months of your lease and give the car back to the dealership, but that is a huge waste of money.
You could also just terminate the lease contract and Infiniti will give you a bad credit rating thing and you probably won't be able to lease a car again, but you'll be out of it pretty much free & clear (although that's really not the way to go, either).
____________
MrElussive
03 G35C 6MT
#15
09-20-2004, 08:39 PM
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