Lease Early Termination

[joekaraoke]

What is the name of your state (only U.S. law)? Florida

First off, I'm completely in the wrong on this, I know it. I'm just wanting to mitigate my losses and damage to my credit now.

I requested an early termination of my auto lease. I was quoted about $4000 for the early termination. My lease was originally for 4 years and I terminated after two.

I turned the vehicle into the dealership and the dealership "rolled" the $4000 into the new purchase. I thought they would send the payment to my leasing company, but they didn't, they sent it to me.

I went MANIC and spent the money between the time that I mailed the check to my leasing company and the time the check hit my business account. Now they want $7000 ($3000 more) through a collection company.

I've called the original leasing company, and they said they wouldn't negotiate. I'm willing to pay the $4000 plus a penalty, but not $3000! It has only been 4 months! That's $1000 a month.

Anything I can do except pay the $7000?

[HomeGuru]

Originally Posted by joekaraoke

What is the name of your state (only U.S. law)? Florida

First off, I'm completely in the wrong on this, I know it. I'm just wanting to mitigate my losses and damage to my credit now.

I requested an early termination of my auto lease. I was quoted about $4000 for the early termination. My lease was originally for 4 years and I terminated after two.

I turned the vehicle into the dealership and the dealership "rolled" the $4000 into the new purchase. I thought they would send the payment to my leasing company, but they didn't, they sent it to me.

I went MANIC and spent the money between the time that I mailed the check to my leasing company and the time the check hit my business account. Now they want $7000 ($3000 more) through a collection company.

I've called the original leasing company, and they said they wouldn't negotiate. I'm willing to pay the $4000 plus a penalty, but not $3000! It has only been 4 months! That's $1000 a month.

Anything I can do except pay the $7000?

**A: you could sell the new car.

[joekaraoke]

I want to pay the debt, but they've increased the amount From $3,800 to $7,000. I have no need to sell the other car, but thanks for thinking of it.