Stuck with a very expensive lease!

[daganster]

Someone I know is stuck with a very expensive lease. Any ideas how to get out of it? Does anyone have experience with websites like swapalease.com?

[Centurion]

someone i know might be able to take it over.
details please

[daganster]

someone i know might be able to take it over.
details please

It's the biggest Cadillac Escalade, fully loaded, good condition and  the monthly payment is $1289.44 the only problem is that there are 24 months left with only 12k miles left.

[AsherO]

It's the biggest Cadillac Escalade, fully loaded, good condition and  the monthly payment is $1289.44 the only problem is that there are 24 months left with only 12k miles left.

OMG, you have friends like that? Can we get a pic of the chrome?

[myb821]

It's the biggest Cadillac Escalade, fully loaded, good condition and  the monthly payment is $1289.44 the only problem is that there are 24 months left with only 12k miles left.

1300 a month WOW!

[MEIR613]

It's the biggest Cadillac Escalade, fully loaded, good condition and  the monthly payment is $1289.44 the only problem is that there are 24 months left with only 12k miles left.

Can this guy afford it? What's he thinking?

[daganster]

1300 a month WOW!

Can this guy afford it? What's he thinking?

It's one of those stories where they did a favor and the person stop making payments, now they have this car sitting on their lot doing nothing. On top of that the down payment was $7500!

[MarkS]

I've used swapalease and had a very positive experience! I was doing a different type of purchase but regardless I would recommend them.

I dealt with Bill Gast 866-792-7669 ext. 2021  bgast@swapalease.com and it was a very smooth quick transaction. They overnighted all necessary paperwork back and forth etc.

[AsherO]

It's one of those stories where they did a favor and the person stop making payments, now they have this car sitting on their lot doing nothing. On top of that the down payment was $7500!

I hope it wasn't you who did this favor... 

[daganster]

I dealt with Bill Gast 866-792-7669 ext. 2021  bgast@swapalease.com and it was a very smooth quick transaction. They overnighted all necessary paperwork back and forth etc.

Should I speak to this guy or  just register online?

[daganster]

I hope it wasn't you who did this favor... 

It wasn't me, but it still sucks it's someone that's close to me and I'm trying to help out.

[Saver2000]

I know this is not what your looking for, but what happens if they stop making the payments?

(. . . The bank takes away the car, and then what? It gets reported negatively?)

[Centurion]

and if the car gets "lost"

[smart brit]

I know this is not what your looking for, but what happens if they stop making the payments?

(. . . The bank takes away the car, and then what? It gets reported negatively?)

sure the car is taken away and your credit report is screwed for life

[PlatinumGuy]

sure the car is taken away and your credit report is screwed for life

I seem to remember thats not true.

[Saver2000]

sure the car is taken away and your credit report is screwed for life

Life? What do they report it as?

Theoretically you don't owe them any money now that they took away the car. I would assume they wait for a few missed payments before doing that, and that's what would be on your CR. (Eventually it'll get charged off etc. .. )

Not confirming, just asking.

[smurf]

Life? What do they report it as?

Theoretically you don't owe them any money now that they took away the car. I would assume they wait for a few missed payments before doing that, and that's what would be on your CR. (Eventually it'll get charged off etc. .. )

Not confirming, just asking.

if the car is sold at auction for  less than the amount you owe, you are still liable for the difference

[Smokey Joe Robinson]

Someone I know is stuck with a very expensive lease. Any ideas how to get out of it? Does anyone have experience with websites like swapalease.com?

Total it is pretty much the only way, not that Im suggesting anything.

[daganster]

I seem to remember thats not true.

Life or not they can't afford o screw up their credit.

[daganster]

I just listed it on swapalease.com hopefully I'll have good news.