How can I get out of my auto lease before maturity?
How can I get an affordable short term lease for 6, 12, or 18 months?
Can I take over someone else's lease?
The hardest task I've ever been presented with is helping customers end their auto lease prior to it's maturity. The problem is that, unlike a loan, you are required to pay all of the remaining payments without any discount for unearned interest. For a short time NMAC had a very generous and simple early lease termination procedure. In recent years that seems to have disappeared. The only alternative, up to this point, was to come up with the cash or roll the balance of payments into a new lease. Most of my clients found those choices unacceptable and resolved to stick it out till the bitter end. That was bad for me too because it meant the loss of another sale.
Now, I'm happy to report there are new remedies available that solve this previously insurmountable problem. Recognizing an opportunity to profit from assisting dissatisfied lessees, a couple of companies have developed Lease Marketplaces. The concept is rather simple. There are people who want a short term lease (6-24 mos.) with lower payments than would usually be possible. Those folks are matched up with others who want out early. The company handles all of the paperwork required to get the bank's approval. Best of all, the entire transaction is completed via the Internet. This is the best example of a Win - Win situation I've seen in a long time.