Lease turn in early

i had a bad accident several weeks ago. I’m now on disability and don’t have an ETA on getting back to work. My dream car is gone. It was totaled. The car gave its life for me! Was in the hospital and have a head and neck injury. Memory and coordination for starters! The head portion is Very obvious and that can’t be faked. The neck portion is a result on my head being whipped around from the impact and something hitting it. What? I have a pretty good zipper on my left side.

Any way my income has been severely impacted obviously as I can’t work. I have a saving but that’s not going to last forever!

Also it’s going to be a while before I collect anything from the owners liability. My medical payments will come out of that first then pain and suffering. My insurance has already paid my Vehicle off using a portion of the owners liability coverage. The owners coverage is now questionable. There are layers upon layers to this. All of which have been what seems like there is a cover up. I’ve hired an attorney to sort it out as I’ve been running into walls. I’ve not heard for him either.

I’ve called TFS to try and get a deferal! Nope! I asked if I turn it in now. Sure. All the remaining lease payments and declared value will be due. On my last lease I could turn in the lease early, but I would owe the remaining lease payments. Also I have to turn it in to the selling dealer. The figures are the same if I buy it outright or turn it in now early. Does this seem right?

Before one of you flames me for being a dumb shit! I’m not really interested in your negative opinion just positive ones please!

Thanks

 

Scott,
When you say your car is totaled, do you mean the leased car from Toyota? I'm a little confused, since if the insurance paid it off doesn't that square you with Toyota?
If it's your Tacoma that you need to get rid of and a separate car got totaled, then there are websites online that people can take over your lease for you. You may have to offer a cash incentive for people to do this.

I wish you the best of luck in your recovery!

 

I’m confused, because you said your insurance company paid it off?

Or did this happen in another vehicle and you still have the Tacoma?

 

Just post the lease online, many people will call, I was overwhelmed when I put my lease up early. I had a 2016 with 18 months of my 48 motnhs done.

I made the new buyer come into the dealer, he paid 500$ in frees and I signed a paper saying I'm free. Done.

My trade in value was abysmal, don't trade it in or sell to the dealer.

 

The Tacoma should have a depreciation schedule just like a regular loan. Call up TFS and ask for the current payoff, then you can just sell the truck and payoff the difference (if any) between the payoff and sales price.

 

Thanks for the well wishes.

My totaled car was a Corvette. It’s now a doorless topless ride with three wheels!

My leased trucks is through TFS!

Yes, I’ve seen those sites. Questionable comes to mind. I called a friend and he said the same. The end result is I’m still liable for the note to TFS every month even if I have a legit contract with the guy taking over the payments and he doesn’t pay or the outfit runs off with the payments!

I have a Mercedes that can be used for substitute transportation when I get back on my feet when that time comes. Also I can’t drive. DMV has not entered the picture yet. Tomorrow is a Neurologist appointment to determine that. I’m scared shitless!! So I have to be driven everywhere. I’m on Seizure meds currently.

The good news is I decide to go belly up with TFS, they can’t tap my money as disability pay is not touchable. My credit will be screwed. But my health is more important than a truck!!

My wife doesn’t like the truck anyway. She’s already doing hand stands that the Vette is gone that she hated too. Also her girl friends aren’t helping this out any with their crap ass advice! With tell her To tell to sell everything you’re not going down with that sinking ship! Nice advice! I’d rather not tap family! They are not forgiving and I’ll hear that for the rest of my life. My mother has already chimed in with her 2 cents. Boy toys will always get you into trouble and that’s just where you are. Man hater! Ugh! You’re just like your father! My reply was; I hope so other wise you have some explaining to do. Crickets! My dad and step mom live in another state of mind as he has alzheimer’s and her hands are full taking care of him! My dad sent me a check already but it’s just a bandaid for what’s to come and I can’t keep going back to the well!

The attorney says that we can tap my own insurance company. But from what I’ve been reading they will but up a good fight before they lay out a thin dime. I have good insurance. But insurance companies are not your friend even though I’m paying the premiums!

Who would have thought any of this would be a question?

 

Did that! It’s the same cost if I buy it outright. Your right I could sell it and pay the difference and be done with it. It’s looks to be about 5K to 6K to get out of it either way!

 

I’ve taken it to several places already. I felt like I was sodimized before I left the lot. I had to do a reach around to pull them out!

I swore up one side and down that I would never lease again before I did the truck. I should have listened to myself. Kicking myself now. I leased it because I liked the payment and didn’t want to keep it after the lease was done.

TFS is horrible!

My credit union said no problem with deference on my financed Benz. The Vette was through Ally! I had the buyers assist and they paid an additional value. I cleared the lien and have some pocket change. I can’t even replace the car even with that help.

I’m so screwed!

 

The auto group I worked for would actually post some things up like this to help our customers get out of leases. Not something most would do since they potentially lose a sale, but if it could help out a loyal customer you know tou’ll Have thier future business. Safer having a dealer help you get someone to buy out of your lease then some sketchy internet website or whatever.


Honestly if it was me I would do whatever I could. If the Benz needed to go than so long. I wouldn’t give a shit about worrying about driving around in a nice car, I’d be fine with a beater knowing my financial situation was stable.

 

I found a work around. I called my Credit Union and they will give me an entention to buy me some time on the other car notes. So less out of pocket money for a while. Wasn’t a problem. Got my letter from my employer and have submitted the request.

TFS wouldn’t give me the time of day! This will be my last TFS anything! Left a pretty sour taste in my mouth. I’ll remember that at lease turn in. I’ve leased from Chase too. Ugly comes to mind! Pardon the pun!

 

I’m not sure of all the details but I’ve heard some people in California sell their cars to CarMax who quotes pretty good offers on cars. Sometimes coming out on top. They would use the money to buy out of their lease and sometimes walk away with some. I think CarMax would do the work for you and pay off the lease for you and give you any difference back. I sold my 2014 Accord to CarMax with 6 months of payments left. They paid off my remaining balance and I used the extra money to put a down on my Taco. Not sure if you have a CarMax in your area. Just my two cents. Good luck!