Car lease question/...

iVillage Member
Registered: 07-19-2011
Car lease question/...
3
Wed, 10-05-2011 - 9:09pm

I have a car lease that I can't afford to keep anymore. When I leased the car, I was making enough money to cover it, now my hours have been cut down at work and therefore my pay has been cut down too.

iVillage Member
Registered: 11-18-2008
Thu, 10-06-2011 - 4:05pm
How much more time do you have on the lease? You can return the car, but it's not like renting, you'll still have to pay a large amount (if not all) of what's left on the lease. Another option would be to transfer the lease to someone else. Google "lease assumption" and you should come up with some companies that do that. BUT, first check with your lender and make sure they allow that. Not all do.

Good luck!
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Community Leader
Registered: 07-26-1999
Thu, 10-06-2011 - 4:40pm
I agree with Kellie, I would check the contract terms of the lease, it should spell out what your options are.
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iVillage Member
Registered: 12-16-2010
Tue, 10-11-2011 - 11:38am