question about turning in a lease

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Old 03-15-2004, 10:43 AM
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question about turning in a lease

I have a 2003 NBP TL-S and i got it in August of 2002. I have about 16 months left on my lease and I am 9000 miles under what I should be.
I have some questions.
1) Can I turn in my lease early to Acura, if so, will I have to pay a penalty??
2) If i have to pay a penalty will they lower it since i am so far under my mileage??
Old 03-15-2004, 11:19 AM
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1) check your lease agreement, they vary. usually there is some pentaly
2) doubtful that they will just offer that, but you can always use it as a point of negotiation with them
Old 03-15-2004, 11:20 AM
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They don't care if you're under the allowed mileage. You already paid for it, and they are not going to refund you the money.

As for turning it in early, yeah, you will most likely pay a hefty penalty.
Old 03-15-2004, 11:57 AM
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I wanted to turn in my 99 Toyota Solara early after
I bought my Trans Am....
The penalty was the remainder of the lease payments....

What I suggest is....
1. Try to sell the car for at least the lease payoff,there should
be a lease payoff just like for a loan..I could not find a buyer
so....
2.What I ended up doing was just driving the car to the end of the lease to the max miles on the lease (45K) in my instance then
turning it in....
Old 03-15-2004, 12:00 PM
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Exactly, just get some use out of it. You will not be "awarded" anything. You are paying a set amount with the assumption that it will be in PERFECT condition with a set number of miles or less. You MAY get some credit towards another vehicle though.
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