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Author: absmith Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 11711  
Subject: Re: Turning in a lease Date: 11/3/2000 6:28 AM
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Your ideal scenario would be for the dealer to purchase the car from the lease company (I'm assuming this is Toyota). This will only happen if it has low miles and is in good shape mechanically and cosmetically, but it relieves you of the end-of-lease BS and you can start brand new. I've been this lucky once.

Namely, if you want to get out of your lease early, and you "turn it in" as if it were the end of the lease, you're going to have to pay the remaining seven payments. The dealer will offer to capitalize this on your next purchase/lease (obviously not smart financially), however, check your lease agreement for particulars. Most have early termination provisions spelled out in the contract, but you can be sure they won't be to your advantage.

I like leasing, but end-of-lease usually sucks unless you re-lease with the same manufacturer, in which case, they make things a lot less painful. So far, I've had good luck with Honda/Acura.

Good luck to you.
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