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Looking to help a friend out of a car lease
Old 06-02-2019, 10:30 AM   #1
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Looking to help a friend out of a car lease

A friend of mine died unexpectedly a week ago. A week or so prior to that, he and his wife leased a new SUV... very nice... but with a $583/month lease payment for 36 months.

His widow has no need for such a high end vehicle and her income will be 1/3 less and the $583 monthly lease payment it is putting pressure on her budget so she is looking to get out of the lease. Unfortunately, she was a co-lessor... if she had not been then she could just return it to the leasing company.

Any ideas on how she might get out of the lease? She might even be agreeable to leasing a smaller SUV for a lower cost. The subject vehicle only has 500 miles on it.

I'm aware that there are third-party companies that broker someone else assuming the lease so that is the prime possibility at this time.
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Old 06-02-2019, 11:01 AM   #2
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Condolences on the loss of your friend.

I've never leased a vehicle. Considering that his death occurred so soon after signing the lease, would the dealership let her off the hook out of compassion? She could explain the circumstances much as you have here, emphasizing the sudden loss of 1/3 of income. If I were in that situation, I'd try that angle first.
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Old 06-02-2019, 11:04 AM   #3
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Was the lease in HIS name, it "may" terminate on death depending on the lease. She may not be responsible for the payments and could simply tell them to come and get it. If it is both their names, that is different.

https://www.sapling.com/8646251/brea...e-death-lessee
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Old 06-02-2019, 11:21 AM   #4
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The 3rd party option should be considered after looking into the possibility of getting it cancelled outright...


One of my DWs friends was looking into it and I helped her look at some.. it is a true find the going rate option as some leases were not that great and the 'seller' had to put up money for someone else to take it... some were really good as they had not used that many miles and the new person was able to drive many more miles per month than if they had a full lease..
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Old 06-02-2019, 12:59 PM   #5
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Was the lease in HIS name, it "may" terminate on death depending on the lease. She may not be responsible for the payments and could simply tell them to come and get it. If it is both their names, that is different.

https://www.sapling.com/8646251/brea...e-death-lessee
Yes, see OP... she was on the lease as a co-lessee... you're right f she wasn't named in the lease she could just turn in the car.
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Old 06-02-2019, 01:02 PM   #6
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I'm not clear if the wife has her own vehicle, perhaps she could that and use the money to pay for the SUV..if that's leased too it won't work.

I'm sorry you lost your friend.
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Old 06-02-2019, 01:09 PM   #7
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Sorry to hear about the loss of your friend.


ETA: With only 500 miles on the vehicle, she might be able to get the dealership to take it back with a payment of a couple thousand dollars. This option could also be combined/or not with the lease on a smaller SUV. Might be worth a try.
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Old 06-02-2019, 02:11 PM   #8
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When my friend was dying he wrote a letter to the dealer explaining that he was dying and couldn’t drive and his wife no longer drove. We dropped off the car with the note and keys. They accepted it and told us to call the main company that would make the decision. I did and explained the situation. Also they had no assets to put a lean on. They accepted it.
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Old 06-02-2019, 02:35 PM   #9
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I'm not clear if the wife has her own vehicle, perhaps she could that and use the money to pay for the SUV..if that's leased too it won't work.

I'm sorry you lost your friend.
They do have a pickup truck that she will sell... its a little older. She can probably afford this car for the lease term but it is much more car and cost that what she needs so she's just trying to figure out the least expensive way out of the lease.
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Old 06-02-2019, 02:37 PM   #10
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Sorry to hear about the loss of your friend.


ETA: With only 500 miles on the vehicle, she might be able to get the dealership to take it back with a payment of a couple thousand dollars. This option could also be combined/or not with the lease on a smaller SUV. Might be worth a try.
Quote:
Originally Posted by Teacher Terry View Post
When my friend was dying he wrote a letter to the dealer explaining that he was dying and couldn’t drive and his wife no longer drove. We dropped off the car with the note and keys. They accepted it and told us to call the main company that would make the decision. I did and explained the situation. Also they had no assets to put a lean on. They accepted it.
Thanks... the suddeness was a shocker.

We're hoping that since there are so few miles on it that she can swap it out for a smaller SUV with a lower monthly lease cost with minimal economic penalty. Hopefully the dealership has enough pull with the lease company to help her out.
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Old 06-02-2019, 02:49 PM   #11
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Thanks... the suddeness was a shocker.

We're hoping that since there are so few miles on it that she can swap it out for a smaller SUV with a lower monthly lease cost with minimal economic penalty. Hopefully the dealership has enough pull with the lease company to help her out.
That might work but at the end of the lease she won't have anything to drive. I might try and get them to cancel the entire lease if all possible. Then a trusted friend could her find a good used vehicle. In fact if the dealership thought they would get a sale out of transaction that might sweeten the pot. Used car payments plus pickup sale proceeds should be better then another lease.
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Old 06-02-2019, 03:22 PM   #12
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The dealership has sold the lease to the manufacturer's financing company. If they are a quality dealership, they can payoff the lease and do another lease on a lesser vehicle for the wife.

These are extenuating circumstances. Any dealership should be willing to have two "sales" so quickly.
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Old 06-02-2019, 03:27 PM   #13
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Hopefully, the dealer has some compassion to arrange for the purchase of something more affordable. She should have a friend go with her to help negotiate this and remove the emotional aspect. If all else fails contact a local TV station's consumer watchdog about the heartless car dealer.
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Old 06-02-2019, 04:07 PM   #14
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Might explore this option. This company provides means for parties to get out of a lease by transferring to another party. Heard good things about this site.

https://www.leasetrader.com
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Old 06-02-2019, 04:10 PM   #15
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Also, is this friend in Sarasota or Vermont area? Asking cause if in FL might be able to hook up someone with ya (private party). If in FL area drop me a PM with make, model, terms. If in Vermont, sorry got no connection there.
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Old 06-02-2019, 08:51 PM   #16
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The dealership has sold the lease to the manufacturer's financing company. If they are a quality dealership, they can payoff the lease and do another lease on a lesser vehicle for the wife.

These are extenuating circumstances. Any dealership should be willing to have two "sales" so quickly.
What do you mean by "payoff the lease"... like they take the car back and cancel the future lease payments? That would be ideal... along with a deal for a smaller SUV.
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Old 06-02-2019, 09:58 PM   #17
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If they had bought the car rather than leased it, what do you expect would happen? Would you expect the dealership to take it back for $586, if that first payment has even been made? I don't know the answer, but a lease is just another form of purchase, is it not? I wouldn't expect a better outcome just because it is a lease. Best you can hope for is that they would take the trade for a smaller SUV, but I wouldn't expect any kind of deal on that. She can certainly ask.

I would start with the dealer. The third party broker isn't likely to have any soft spot for this, as they wouldn't be painted as being unsympathetic as a dealer might. The car has depreciated a lot more than that first payment as soon as it was driven off the lot. But maybe they did a down payment as well? That would change things, as long as they don't expect that back.
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Old 06-03-2019, 06:22 AM   #18
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Sorry for your loss. Investigate Swapalease. I used them to take over someone's lease and it was a good experience. Hope it works out.
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Old 06-03-2019, 06:40 AM   #19
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Almost all threads contain something useful. If you are a couple it looks it's best to do any leases in one name only. Is there any reason both names need to be on the lease?
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Old 06-03-2019, 06:41 AM   #20
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Almost all threads contain something useful. If you are a couple it looks it's best to do any leases in one name only. Is there any reason both names need to be on the lease?
Nope, we always lease cars in my name only.
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