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.
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!
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.
I hope it wasn't you who did this favor...
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
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.
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?
I seem to remember thats not true.