pizokk1

i have a tlx tech that i leased on may, i was wondering how bad does my credit can get hurt if i brake the contract, or actually if i get another car from other dealer? this is my first time leasing and also im coming from mt transsmission so i was giving a try to to this beautiful car but sometimes i think i cant handle no more "cause of the transsmission"

Linmk2

The first thing you need to do is call the lease company and find out what the net lease payoff is your current vehicle. That will give you some idea how upside down (payoff vs trade-in value), if any, you are. I have always been able to trade my vehicle in, just like a regular finance contract. Be sure to check your contract to see if there is any clause in it that would prevent you from terminating the contract early. The dealer takes your car in on trade, pays off your lease and rolls in any negative equity that you may have into your new contact. You would have to most likely come up with a hefty down payment if you are upside down. In that regard there will be no damage to your credit. However, if you stop paying the lease and don't pay off the car, then the lease company will repo your car. That would have a major impact on your credit score.

csmeance

lease trader . com or a similar company might be able to help you get out of the TLX lease so you can get into another car. You'll have to pay some transfer costs for the paperwork.