Any H1b had a leased car and had to leave country due to Visa rejection or layoff? How did you manage the lease termination? Did you pay the remaining lease with penalty or did the dealer do any concessions?

likefunny
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You can go to the dealer and ask if you can trade in. If your car’s worth is more than the residual value (which includes pending payments), then you’ll have positive equity. In such a case, the dealer will give you a check for the amount. This scenario is more likely if you are close to lease end. Suggest you just call up the dealer and explore the options.

Find someone to pick up your lease. You can then transfer the remainder of the lease to them. Most leases are transferable.

If this doesn’t work, you can definitely work out a deal with the dealer. This depends on the situation. Sometimes with high demand for used cars, they tend to simply take back cars with low mileage so that they can sell it at a higher price.

Good luck!

Where are you located? I am looking for taking over someone’s lease. I am in New Jersey.

Swapalease.com leasetrader.com

Thanks for all inputs. I don’t have a lease but planning to take one and really worried about the situation at D.

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