auto lease termination

[frank1965]

pennsylvania
I lease a 2002 dodge dakota, my term is 63 mo. I have about 33 payments left,but would like to get out now. my original bank, (Provident), allowed lease trades / assumptions , but they have now sold out to National City who wont allow them. Have they breached my contract? I had even had my truck listed on "Swap-lease" prior to the sale of my lease to another bank.I just dont want to ruin my good credit by re-posession but I cant afford the payment anymore I'm all ears to some good legal advice. thanks

 

[longneck]

what does the lease itself say? my lease has an exit option that starts at $3000 and declines with the life of the lease.

- Carl

 

[frank1965]

lease termination

Nothing about a buy-out option. The bank is basically saying to trade it in to a dearlership, buy-out the vehical(that figure is 20,000), or do a voluntary repo. This is neg. credit and still responsible for amount difference after the vehicle is auctioned. I've even asked the bank to possibly re-negotiate the terms to lengthen the term but have a lower payment ., but most people at the bank are clueless and don't want to get past the first 3 options. I know an involuntary repo is very bad for your credit but how bad can the voluntary one be?