Hi Adam. What does the highlighted phrase above mean? They ( and who is "they"?)will take the car and do what for you? Be careful. Frequently, the underlying lease paper or note, if it is a purchase, is sold to "a holder in due course". Before you take any action of any kind, get the proposal in writing and make sure that the entity and person issuing the proposal has the legal authority to do so. Did you list your car in the classifieds? Since it is an SSG convertible, perhaps someone will assume your lease. My guess is that the residual value used at your time of leasing actually may have provided better lease terms than might now be available - assuming it is possible at all to lease the car in the current economic environment. See if your lease allows an assumption by a qualified person. Also look to see if consent to the assignment can or cannot be withheld. If it can be withheld based on conditions, what are the conditions? This is just some friendly advice. For more detailed advice you should check with a lawyer that is familiar with the applicable law under the lease agreement and your state.
Good luck!
I thought about the above as well... But he mentioned 2k being his lease payment.. A good lease payment on a viper would be 800-1100/mo..(max.). Anything above, and it won't sell or transfer.
I was going to suggest leasetrader and/or swap-a-lease.. But it would need to be competitive terms, to gain interest..
I think what he meant by "they will come get the car". Is, that they will repo. it, if he fails to pay...
Be careful is right.... They will tell you, that with a fee. You can drive it into a dealer and hand them they keys if you wish. BEWARE!!! This is considered a voluntary repo., and virtually the same and them towing if from your driveway. They will take the car to auction, and sue for the (most definately) negative equity. AND, your credit will be shot to boot.. Not a good option...
KEEP THE CAR... Either try to refinance the note, long term OR have someone assume the lease, if it's competitive.. Check other vipers on leasetrader and swapalease to see what the payments are.. You might need to add an incentive.
Good Luck, PM me if you have any questions..