Leased cars

Have any of you had any experience with turning in a car that you have on a lease before moving to the UK?

I have three cars all on different leases, and just found out today that they will not let me turn the cars in. So it looks like I will have to relinquish all three cars, and my credit will will go straight to hell here in America.

Any advice?

Thanks,

Kath

I turned my 2005 Mazda 6 in and yeah my credit score went down, but I had no choice.  But the good thing is that your credit doesn't transfer to the UK, so in essence you get to start all over again on your credit, for some that isbad for those of us that have blemished credit it is good.

Thanks,

I'm not too keen on relinquishing a three cars, my credit is really good now and it's taken me 20 years to get that way. Plus I still have a college student in this country and America relies heavily on credit for student loans etc. as well is the fact that I won't have sold my house before I leave,  so there are a few reasons to worry with regards to the credit rating. So I'm a bit concerned but on the other hand I'm not going to let something this insignificant stop me from moving either.

Thanks so much

Kath

We only had one lease and it ended a few months after we moved.  We kept it at someone's house and had someone turn it in when the lease was over.  I'm not sure what we'd have done if it had been a longer time frame or we had more than one car (so I'm not any help!).  I hope you can work something out.

I'm just throwing this out there, because I don't know if its even possible...but can you "sell" your lease to someone else? I mean, does the car company even allow it? If so, it might be desirable to someone who wants a lease but not for full time. Especially if you have low mileage on your car(s).

You can sell your lease to someone, you can even find out what the total buy out for the car is.   Like mine was $17,700 to buy the car and own it, no lease.  But a lot of people bulk at the idea of doing that.  I don't know why but they do, as soon as someone hears the word lease attached to the car you are selling they tend to run the other way. I tried for 6 months to sell my car.

I had it listed on a site specific to selling leased cars it was called swap-a-lease (you can google that and should bring the page up) and I had it listed on auto trader and all those types of sites, and I had a lot of hits to buy it but as soon as I told people it was a lease they would say "thanks but no thanks".  I even decided not to tell the last couple people, but a lot did their homework and it shows on your car fax report if it is leased and all of them backed out.  I even had a girl, check in hand, walk up to my car put her hand on my car and said it had bad vibes and she told me she couldn't buy the car.  It is frustrating and I wish you all the luck in the world.

I guess I didn't explain myself well enough. I meant, put an ad in the paper to try and get someone to take over the lease you have. So, if I had a lease with 1.5 years left....someone could take the rest of the lease over. Then at the end of the 1.5 years, turn it in just as I would have done. If its possible, it might be something someone would want to do if they only want a short-term lease and your mileage isn't high.

Yes,
 I acutally know what you meant but most people don't want to do that, they don't want to take over a lease, it is very rare to find someone that will be willing to do so, because at the end of the lease if there is anything wrong or the mileage is over they must pay for that ,plus if you do transfer it someone, you can't totally get your name off the lease.  So if that person doesn't pay their end your credit gets the bad score, and another down side that the person who takes over your lease has to have almost perfect credit....meaning no blemishes.  It is a very risky game which ever way you look at it.

my car is on swapalease.com right now.  i would highly recommend it.