Can Tyler Get Out of His Car Lease?


Tyler’s here on your ceiling relatively new to the to the show how long you’ve been working here now and now a little over two months all right a little over two months okay so Randy I know it seems like forever oh yeah eight no so Randy normally has the adulting questions but he walked into the office yesterday and had a question for everybody and your question is how do you get out of a car lease I made a bad financial decision about two years ago taking out a lease on a truck I couldn’t afford and now I need to get out of it so how did you get approved for it he couldn’t afford it they at the time I could afford it but they were just like hey let’s just get this guy in it yeah it’s pretty once proved for stuff like that really it’s not that hard what does it do like sign and drive or whatever zero down yeah it’s exactly what it was zero down sign-in drive like here you go Oh what for three-year lease how long is the lease it was like six years did you why not just buy it did you get up one of those quarter Lots by a gas station or something Dairy Queen yeah yeah this is we deal you’re right yeah it wasn’t a corner lot but it was by a gas station so damn major dealership right it was because it sounds like you go into the check cashing place I’ve never heard of a six year loser yeah so I was gonna say just ride it out of your two years already I mean I’m not surprised that they exist but like no offense who’s dumb enough to do a six year lease you know I mean at that point just like what’s like it yeah like what’s it gonna be worth at the end of the six years right and I know it’s a way to get your quote payment down well what I was gonna say is I know there’s websites where you can have people take over your lease but I don’t think they’re gonna take you over for years Yeah right yeah we’re in 2019 those two more years three you don’t mind me asking how much of the payments almost six hundred a month oh my god that’s insane did you how many miles a year twelve thousand I honestly don’t even remember so at the end of the lease that’s forty three thousand two hundred dollars you could have bought it for way less yeah and your payments would’ve been way lower okay we get it you’re an idiot so now question on the text what the hell kind of job did you have to be able to afford that ridiculous lease and furthermore what did you do to lose that job and be stuck with this situation what were you doing when you got that job I had I was working at a warehouse as a driver and I was making a ton of money in overtime so that’s why I could afford it I quit because radio is what I want to do and that’s what I went to school for boy alright alright well obviously the right decision yeah but like when the overtime you’re not really supposed to when you’re applying for a loan you’re not supposed to put like yeah that’s above and beyond because overtime is like you can’t really count right she’s not Gary right true it was one of those things because I don’t they don’t really check that stuff no it was all like right the thing was it was one of those things where I’m looking more in the moment and not at the bigger picture yeah now did you have your credit of any kind so like I think between that and then also like his credit must suck yeah I had a crazy high interest rate yeah whatever credit I did have oh it’s gone it’s really yeah also I want to know how many miles did they give you per year on this that I honestly don’t remember I’d have to yeah another tech says I had a six year lease as well sucks how long it is but it was the only way I could get a car without a cosigner Wow I’m about halfway done on it it’s true I signed it by myself couldn’t get a cosigner so 502 says it sounds like Tyler doesn’t need a truck and he’s a DeLorean yeah totally I like your death yeah a lot of people saying you should just fake your death yeah yeah so anyway I I got with people that that would know something about this who has a better answer than fake your death has a death although once one wasn’t much better one of the replies said you can stop making the payments in the bank will definitely come pick it up from you but I ten out of ten would not recommend that yeah the simple answer is that you can all always trade out of it the biggest problem is when you’re trading out from zero to 30 months because your payoff is the residual amount plus any remaining payments but there are companies that that do Lee swaps or swap police that will help you find somebody to take over the remaining payments of your lease ain’t nothing gonna do that though you might have a hard time finding somebody who’s gonna take over a pickup truck right a mint for $600 a month for the next four years how many miles are already on this truck uh forty five thousand you’re way over your mileage on a Lee you’re way over you’re gonna owe so much more you are so screwed this is gonna be a hundred thousand dollar truck yeah the most I’ve ever seen on the lease I like the lease cars because I like to get something new every couple years and I don’t I mean I’ll drop in the tariff but I still like I’ll get the fifteen thousand mile alone here yeah per year that’s the biggest and that’s the biggest that I’ve seen definitely and after that what’s the penalty like fifteen cents a mile twenty-eight depends when he cents a mile it’s probably on his deal it’s probably like twenty five cents to a dollar yeah yeah it’s likely a quarter here’s one from a guy who owns a car dealership he says if you are in the military and get orders for overseas the leasing institution will take the car back in normal circumstances most times in a lease the people are out of whack as far as the relation of money still owed on the vehicle versus the market value of the car which that’s you some people especially in states where there are really strong consumer laws on the books will claim that their vehicle is defective and the dealer cannot fix the vehicle in a reasonable amount of attempts the lemon law other than that there are no secret bailout strategies that I know of besides biting the bullet and writing a big check no huh join the Marines go to Afghanistan here’s another one says there are companies to help with that process least trainer so you should look into that I mean you you might find some suckers hey if you were out there there’s got to be at least another suckers out there essentially one lists their lease in how long is left and potential people can claim that lease or set vehicle for the rest of the term it is legal and is really the only legit way to get out of a lease without paying crazy c-money these are from all the people who like I said these are people who would know they’re in the industry I did see some people on the texes at Carmack’s will buy your lease off of you but that also depends on how upside-down you are because you may have to even though they’ll take the lease over for me you’re still gonna owe money to make up like that gap like the difference of the yeah I’ve kind of figured like I’m gonna owe money either way it might be worth checking out though yeah Mac’s right down the street like I wonder I wonder how much like what would the so I guess it would be 600 bucks right for the next over the next four years yeah is what his payoff amount would be to get out of the lease Yeah right plus he’s way over the miles so there’s gonna be a penalty there right and it’s only a two-year old truck and you got 44,000 miles mm-hmm if he wants to get out of a payment some dealerships will buy the vehicle back as long as you owe less the truck is worth or you could possibly get it refinanced so the rest of your lease you owe twenty eight thousand eight hundred dollars eggs are you gonna buy a house in the next seven years no just whatever repo fine just go to the bank and drop it off yeah see if I I mean that could be an option I use car you’re gonna seven years yeah work for us right bro dude I did it I’m fine now you did is that what you did no no I’m just saying like I had the receivers have you done oh that’s yeah but we talked about out in the air where I was dropped I was part of the financial collapse of the housing collapse I owned a home now I own a new condo and have great credit yeah it took a few no better part of a day all I just have to ride it out how old are you Tyler twenty-seven you’re good yeah be fine by the time you’re 40 you’ll be in the clear yeah seems like a long time now that’s a negative forty yeah yep insurance how much is that worth getting if he wants to get out of the payments um no yeah we already what are you positive you’re not financing that was another question I had exactly are you sure Elysa this is you warrant like purchasing the vehicle I’m 100% sure a hundred percent sure could you don’t know how many miles it is yeah six years would be like it you could do it for you could finance finance or 65 that dad I’ve heard yeah you do five six or seven here’s one it says I have a six year lease I pay five hundred and eighty seven dollars a month for a Ford Explorer ripped off Wow why are you guys doing this to yourself yeah I don’t know can you go back to the dealership and essentially beg and plead or say they don’t care you’re on drugs I can’t wait to find out what happens with his issue because I had the same thing happen to me but I am a girl and mine is a four year lease at $500 a month for basically a piece of ish basic bitch no power windows no power locks Jeep Patriot okay just buy used cars not to be not to be a dick but that didn’t happen to you yeah you went out and did it girl I’m fully aware that I made the mistake and I completely own it so it’s just something I’m trying to fix nice new things get in yeah must be one of those desperate losers that sets up those things online begs people for money to pay I get you’re funny yeah yeah GoFundMe that’s what yeah good for a bad mistake I would never stoop that low that’s good to hear is the truck in incredible shape back then yes it is brand new yeah pretty much it was brand new when you got it yeah it had seven so I guess so now you can sell a leased car privately right and then just pay off the lease right yeah you just try to sell it here it is I’m in sales hit me up okay okay yeah it’s better than the situation he’s in drive down the street the car backs and to say this is my situation I would start there hey can I get a part-time job [Music]

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