I am ready to place an order for a new car -- but...

[amdhunter]

Guys, I am ready to place an order for something new. (Yay, tax refund.) I've made up my mind and decided that a 135i is the way to go. I'll deal with the heavy insurance somehow.

Only problem is -- I want to walk away from my current GLi lease, but still have 9 months left. I've asked this before in the forum, but was wondering if anyone has actually done this...

I am willing to pay VW credit the entire remaining amount that I owe them. What should I tell them over the phone? Will it hurt my credit at all? I think someone here said they went through the process, but I forget who it was, and I cleared all my PMs. Whoever that was, would you mind contacting me again? Maybe a quick phone call even?

I tried logging into my account today to look for some help options, but the damned web page is down.

 

[PricklyPete]

Oh wow...its your money...so do what you want...but you really can't wait 9 months? Think of how much you can save up in the next 9 months by prolonging your purchase.

I'm all for buying the car you want...but 9 months seems like such a short time to have to wait to not completely waste money. If your Jetta was costing you money regularly...that would be something to weigh against...but that is not the impression I'm getting.

 

[boomerang]

Why don't you just call the lessor? You're going to have to talk to someone there eventually. You don't have to hide what you're trying to do, just tell them you'd like to turn the vehicle in early and ask what the payoff amount would be.

It's a straight up business transaction.

 

[TruePaige]

You'd probably make out better just buying the car and reselling it to make some of your money back, what is your amount to buy after the lease?

 

[MotF Bane]

And then we can read threads about the crazy old lady who hits your precious new BMW. And then your name appears in police logs after you kill her.

 

[amdhunter]

And then we can read threads about the crazy old lady who hits your precious new BMW. And then your name appears in police logs after you kill her.

lol. That's probably true.

 

[amdhunter]

You'd probably make out better just buying the car and reselling it to make some of your money back, what is your amount to buy after the lease?

The payoff is really high @ $14,300, not including the ~$3800 I have left on the lease. No one I've talked to at any dealership has offered more than $11.5k and I don't think anyone off the street will want to purchase a yellow Jetta.

It will become something that I could never get rid of if I purchased it. (And will never recover the value back.)

 

[amdhunter]

Why don't you just call the lessor? You're going to have to talk to someone there eventually. You don't have to hide what you're trying to do, just tell them you'd like to turn the vehicle in early and ask what the payoff amount would be.

It's a straight up business transaction.

I am scared for some reason.

 

[ichy]

Just wait 9 months. You're wasting an awful lot of money.

 

[StageLeft]

Your post is unfortunate. You're buying a 135i, so you have some money/credit, but not a great deal. However, you then seem willing to eat 9 months of lease on an otherwise perfectly fine car. That isn't compatible.

Why not just keep the GLI in your garage if you're worried about credit. Really, though, you can call up VW and see what the penalty is for bringing it in early, it's probably better than 9 X monthly payment.

It goes without saying. Or really it should have but clearly needs saying, you need to wait 9 months for the 135i. It's not like you're going from a horse drawn wagon to a Ferrari. This is a clear case of patience being a virtue. That is, unless you can avoid a great deal of that $3800 you still owe.

 

[PricklyPete]

Your post is unfortunate. You're buying a 135i, so you have some money/credit, but not a great deal. However, you then seem willing to eat 9 months of lease on an otherwise perfectly fine car. That isn't compatible.

Why not just keep the GLI in your garage if you're worried about credit. Really, though, you can call up VW and see what the penalty is for bringing it in early, it's probably better than 9 X monthly payment.

It goes without saying. Or really it should have but clearly needs saying, you need to wait 9 months for the 135i. It's not like you're going from a horse drawn wagon to a Ferrari. This is a clear case of patience being a virtue. That is, unless you can avoid a great deal of that $3800 you still owe.

I believe he's stated he will be leasing his 135i as well...so that is probably why he is worried about the credit.

As I stated in my earlier post...I COMPLETELY agree with Skoorb on this. Maybe if you hit the lottery or suddenly sold your business for a chunk of money... but otherwise you really are not handling your money well... and this coming from someone who generally makes bad financial decisions when it comes to cars (I have bought a majority of my cars new). It's your money, so do what you want with it...but I think you will be much happier in the long run if you just wait your lease out and save your money.

 

[DivideBYZero]

I am scared for some reason.

Just call. What's the worst that can happen?

 

[MotF Bane]

Just call. What's the worst that can happen?

They'll send a pack of rabid dogs to his house for daring to question their glorious decisions.

 

[MiataNC]

Wait the 9 months and finish the lease. You are wasting way too much money getting out of a car that is fairly new, most likely still covered by warranty, and nothing to be ashamed of. If it is a lemon giving you nothing but problems, pursue arbitration and a buy back by the manufacturer.

The BMW you are looking at will depreciate like crazy the first couple of years.

Based on your desire to end the current lease early and apparent habit of NOT keeping cars more than a couple of years, I think you are nuts to buy out of your current lease and into a car that will have you completely upside down for a period of time longer than you will most likely keep it.

One aspect of being a mature adult is exercising patience. In this case, I suggest you do exactly that.

 

[halik]

Guys, I am ready to place an order for something new. (Yay, tax refund.) I've made up my mind and decided that a 135i is the way to go. I'll deal with the heavy insurance somehow.

Only problem is -- I want to walk away from my current GLi lease, but still have 9 months left. I've asked this before in the forum, but was wondering if anyone has actually done this...

I am willing to pay VW credit the entire remaining amount that I owe them. What should I tell them over the phone? Will it hurt my credit at all? I think someone here said they went through the process, but I forget who it was, and I cleared all my PMs. Whoever that was, would you mind contacting me again? Maybe a quick phone call even?

I tried logging into my account today to look for some help options, but the damned web page is down.

Try lease trader or similar lease swap sites. Alternatively remove head from rectum and wait 9 months.

 

[alkemyst]

They should have no problem if you pay out the lease.

This is the part that makes a lease an advantage to the leasor.

 

[ayabe]

Just wait man. In 9 months the "M" -ish version of the 1 might be out anyways and you'll be crying in your soup.

 

[amdhunter]

Guys, I am feeling that I am getting older and I currently have no gf/social life whatsoever. I literally have nothing else to spend my money on. I don't want to find myself a few years from now, with lots of money and being too old to spend it.

The only thing I have that I enjoy immensely is driving around. I have the money to throw around right now, and I really want to place the order for a Spring delivery.

If I keep my car until the lease time is up, I won't be looking at another car until Spring 2011.

 

[amdhunter]

Just wait man. In 9 months the "M" -ish version of the 1 might be out anyways and you'll be crying in your soup.

An M version would be nice, but more car than I need right now. If I were to go the M route though, it'd be a new v8 5 series.

 

[PhoKingGuy]

Guys, I am feeling that I am getting older and I currently have no gf/social life whatsoever. I literally have nothing else to spend my money on. I don't want to find myself a few years from now, with lots of money and being too old to spend it.

The only thing I have that I enjoy immensely is driving around. I have the money to throw around right now, and I really want to place the order for a Spring delivery.

If I keep my car until the lease time is up, I won't be looking at another car until Spring 2011.

You have a couple options with vw finance (I just did this, sorta). One is to pay everything up front that you owe + lease break penalty. 2. Roll old lease into new lease on a new VW (retarded move). You could also do a buyout, where you negociate a closing cost with VW corporate and flat out purchase the car. You have the numbered edition so you should be able to find a buyer for it.

Those are your options really, they are pretty strict about the contract you signed. Cant you just put a deposit down now and dump the jetta when the 1 arrives?

 

[DivideBYZero]

Guys, I am feeling that I am getting older and I currently have no gf/social life whatsoever. I literally have nothing else to spend my money on. I don't want to find myself a few years from now, with lots of money and being too old to spend it.

The only thing I have that I enjoy immensely is driving around. I have the money to throw around right now, and I really want to place the order for a Spring delivery.

If I keep my car until the lease time is up, I won't be looking at another car until Spring 2011.

If I were you I'd buy a house, unless you have already done that.

 

[Gibson486]

Guys, I am feeling that I am getting older and I currently have no gf/social life whatsoever. I literally have nothing else to spend my money on. I don't want to find myself a few years from now, with lots of money and being too old to spend it.

The only thing I have that I enjoy immensely is driving around. I have the money to throw around right now, and I really want to place the order for a Spring delivery.

If I keep my car until the lease time is up, I won't be looking at another car until Spring 2011.

that makes no sense. Why would delaying a purchase by 9 months suddenly turn into 18 months? If you have the money now, why wouldn't you have the money in the future?

 

[soulcougher73]

When i bought my Subaru i was in a lease for another 9 months also on a Milan. Subaru paid off my lease which was sweet

 

[StageLeft]

AMD you will barely be older next year.

In the meantime the money could be spent on a new hobby. I recommend you find one, there are literally thousands and at least dozens that aren't intensely lame and embarrassing, from skiing to rock climbing to cycling.

 

[PricklyPete]

When i bought my Subaru i was in a lease for another 9 months also on a Milan. Subaru paid off my lease which was sweet

I'm fairly certain you paid off your lease through Subaru financing...