Need Help: Question about terminating a lease early...

[Lagerstatten.ca]

Hey everyone,

First of all, thanks for taking a look at this post and providing me with any help/advice/tips in advance. Cheers.

Here's the situation. I leased a new car (Nissan Xterra 2005 SE) as my job required a 4x4 vehicle. However, I am no longer working for that company due to a conflict of interest and no longer need the use of a such a large vehicle.

The value of the car is approximately $37K and my payments are $545/month.

What am I looking at if I terminate the lease (4 year term)? Can anyone provide me with a more detailed walkthrough of the process?

Thank you. Cheers.

[Raz]

You can find someone to overtake the lease, or talk to 'lease boys' I've heard good and bad things about their service.

[thetrousertrout]

Best bet is to try to find someone to just take over the lease. advertise it as no cash needed, just take over the lease and it is yours! (only if desperate).

To break the lease, it will hurt your credit rating, you will incur a fine for breaking the lease, and a couple other minor things, like you may owe them for milage too.

If you arranged for the lease "in house" give them a call, and ask for your options. sometimes they will re-write the lease once you have it, and give you a discount on your payments and such....