you guys may remember me from such posts as "highest payment". i love my crossfire but now i have a baby on the way. i buried my last car into my crossfire. im way upside down. i have a lease payment of 711 for the next 36 months. my wife is gonna be working a couple days a week and shell have to use my car and park it in a mall parking lot for 12 hours each day. her current vehicle is so beat up from this. can anyone think of a way i can get out of this lease? without putting a load of money down.

 

do you have gap insur.

if so burn that car to a crisp (did i say that)

 

You could always see what the buy out is and what the current market value of the car is. Take the difference and that is what you need to come up with.

If that difference is too much for you to cough up, then you will need to trade it in on a smaller value car. Roll over the difference between the trade in value, early lease termination, and step into something in your budget. If you stick with a DCX brand vehicle, CFC (chrysler financial) might be able to work with you.

Perhaps you should look into a neon. You'll get a great warranty and a car that is good on gas. The cost of them is pretty low. It isn't anything compaired to the Crossfire, but with a kid on the way, you have to be realistic. Besides, Neon is the last car on the list of stolen vehicles for last year! I saw that on tv just the other day. You won't have to worry about it when your wife parks it at the mall.

Good luck.

 

hey i figured it out. im about $20,000 out of equity. bet i can get a good lease on a neon for around $800 a month. :wink:

 

kraz, i agree with dfwsbr, get a lower priced vehicle and lower your payment. they will not let you out of that lease without paying big time!
i had a 600 lease payment that was eating me alive several years back and i got something else and cut my payment in half. that way you can work your way back and get something else you want later.

i will never lease again.

 

You can get a neon for around 11 - 13. With a decent loan at say 6% or so "purchased" not "leased" the payments should be around 550 or so after rolling in 20k! (ouch)

Perhaps you should look into getting a used car. Maybe a home equity loan and just pay off that debit. Either way you look at it, you are going to have to pay the money you rolled over.

 

when you roll negative equity into a new loan banks will only finance a certian percentage of msrp, usually 110%. If you were to buy a neon (which has a 3000 rebate) you could only finance roughy 18500. which is 110% of a 16000 neon. (median price range.)with taxes. To get out of a 20000 negative equity situation you would need to purchase something Itialian, with a prancing horse on the grill. Unless you have a massive amount of cash down its 711 a month for you or the blow torch! Good luck and congrats on the new arrival.

 

i like my plan better :wink:

 

Thats why I suggested a home equity loan. That is if you have a house. Decent interest rate, much better than a unsecured loan.

 

Not to promote fraud... but On Fire is right on this one... I've known people who have "lost" their cars because of bad credit that was adding up... it worked for them... Like I said... I would NEVER do this... to me the juice isnt worth the squeeze! but if its that desperate... you gotta do something...

 

kraz17

I feel for you man and I hope that you can find a solution to your problem!

I do know that there are some companies out there that will take over leases. Just did a google and found:

www.swapalease.com and www.leasetrader.com

I have no idea how good any of these are just giving you some info so proceed with caution.

I do have to ask you: How the Hell did you get a $700/mo lease on a crossfire??? I've owned some more expensive cars and my purchase payments were less then this!

I don't even want to tell you what my lease payments are for my sisters new XF limited is, you would cry.

 

i just get sick of cars pretty quick. prior to my crossfire, i was paying 625 for a 300m special on a purchase. i figured id spend the extra bread and drive a car that i was crazy about and at the end of the lease be done with it. the only thing that threw a wrench into this plan was my wife getting preganant. it was not planned this soon but it is a blessing.

 

Two words: Chapter Seven. Bankruptcy isn't nearly as bad as it was in the past. Here's a good article on the matter:


http://moneycentral.msn.com/content/...ecial=bankrupt

 

Maybe not, but it's still a cop-out, a shirking of responsibility. Just my OPINION though.

 

I agree, it's usually a cop-out, but in certain dire cases, it should be used instead of enduring a lifetime of pain, especially if someone has a family to provide for.