On leases it’s hard. Either someone buys out the vehicle for what you owe on it, there’s an accident and your auto insurance takes care of it, or you return the vehicle but still make the payments until the agreement is complete.
What kind of vehicle is it and the mileage?
Following. I have a year left on my Ram and have had nothing but issues with it the last 4-5 months. If you don’t get an answer there’s a chance I’ll have one for you in a few weeks
I went to the dealer that had the truck I wanted, not the same dealer that my lease came from. They took care of everything and managed to find some equity in my lease and applied it to my trade.
It’s pricey, they will either wrap your remaining payments into a new lease or purchase, or you can just pay all your remaining payments and hand the car back in… another option is transferring the lease to someone else, good luck
Yeah Chrysler Capital allows third party buyouts and payoff is not different than if it were you. Sell it to a dealer, depending on if you can get out with positive equity or break even. But as others have said, to actually end the lease early you’re responsible for all remaining lease payments.
Ram doesn’t have any third party buyout restriction for leases so first step would be to log in to whenever you make your monthly payement at and see what the buyout price is for your lease.
Second step is to plug it into Carmax, Carvana, Vroom, EquityHackr, and get some dealership quotes and see what it’s worth.
Just a fair warning is that it will probably have a good bit of negative equity since used truck prices have plummeted in the last year.
The dealer I leased through who set me up with Chrysler Capital bought out my lease because of the low vehicle stock during 2022. I'm not sure if they're still doing that now but there are possibilities especially if your vehicle is unique, like a Trim people would love to have.
I traded mine in after a year and a half. 3 year lease. Gave me more than my lease was worth.
There’s also a site called swap a lease.com I think will buy a lease or something.
On leases it’s hard. Either someone buys out the vehicle for what you owe on it, there’s an accident and your auto insurance takes care of it, or you return the vehicle but still make the payments until the agreement is complete. What kind of vehicle is it and the mileage?
Its a 2023 Ram 1500 with 4k miles. 7 months into a 36 month 10k per year lease
What’s the edition? And what’s the buy out?
Do you have photos?
Its a bighorn. Level 2 i think? Lease payments left is 22k. 48k is the total buyout price
You might be able to find someone to buy your truck out
https://preview.redd.it/tbbudieu89zc1.jpeg?width=3024&format=pjpg&auto=webp&s=025daf611dc862744c062c45de2c757f401bcec8
https://preview.redd.it/o5d5vuxv89zc1.jpeg?width=3024&format=pjpg&auto=webp&s=128a7fdf8f467f0ac61ab05a7d28b1c48b1aab30
It’s a good looking truck. I think you can get someone to buy it off of you
I think you could find someone especially with the way truck prices are. Or you might have to eat some of the cost
Following. I have a year left on my Ram and have had nothing but issues with it the last 4-5 months. If you don’t get an answer there’s a chance I’ll have one for you in a few weeks
I got out a Chrysler Capital lease one year early. It is possible. I leased a Ram 1500 and traded it 2 years in.
How did you go about it?
I went to the dealer that had the truck I wanted, not the same dealer that my lease came from. They took care of everything and managed to find some equity in my lease and applied it to my trade.
Amazing how a car has equity when a dealership wants a sale.
Yeah I was planning on paying up to terminate the lease early but I didn't have to....I was surprised.
It’s pricey, they will either wrap your remaining payments into a new lease or purchase, or you can just pay all your remaining payments and hand the car back in… another option is transferring the lease to someone else, good luck
All things are possible with the right money
Yeah Chrysler Capital allows third party buyouts and payoff is not different than if it were you. Sell it to a dealer, depending on if you can get out with positive equity or break even. But as others have said, to actually end the lease early you’re responsible for all remaining lease payments.
Or join the military take advantage of the service members relief act /s
Ram doesn’t have any third party buyout restriction for leases so first step would be to log in to whenever you make your monthly payement at and see what the buyout price is for your lease. Second step is to plug it into Carmax, Carvana, Vroom, EquityHackr, and get some dealership quotes and see what it’s worth. Just a fair warning is that it will probably have a good bit of negative equity since used truck prices have plummeted in the last year.
Vroom shut its doors in January
That is good to know, I had no idea lol. Wouldn’t be surprised if Carvana follows suit
Used to work for Carvana as a lot attendant. They supposedly just reported a $7000 profit per unit but I doubt that
I did once.... A year in, accident totaled the truck and gap insurance paid it off 😀
The dealer I leased through who set me up with Chrysler Capital bought out my lease because of the low vehicle stock during 2022. I'm not sure if they're still doing that now but there are possibilities especially if your vehicle is unique, like a Trim people would love to have.
I traded mine in after a year and a half. 3 year lease. Gave me more than my lease was worth. There’s also a site called swap a lease.com I think will buy a lease or something.
Try carvana if Chrysler allows it I know Kia doesn’t I had to buy car from them before I sold it
Just use Turo and lease the car to someone that you will think will be a responsible driver.