Car Lease Issue

I leased a truck one time. It depends on where you leased it at if they will lower the payments or not. As far as I am concerned leasing a vehicle is a rip off. You are paying a lot fo money for something you will never own. Leases are usually a lot higher in the long run than buying. Also you are limited on miles. If they won't lower the payments I would say take it back and buy something. They might even let you off the hook on the lease if you purchase something from their lot. It doesn't hurt to ask.

I only drive cars I have paid cash for. (and no, mine is not a beater.) You should check out DaveRamsey.com and watch the video about "drive free cars." He actually calls what you have a "car FLEECE." He talks about it alot on his program. It's too much to type. He would recommend, as I now would, that you get out of it. Check out his site because it'll be very helpful.

G.,

even if they didn't have the option in the past, things are very different these days. Car dealerships are trying everything they can to sell cars and stay solvent. I would advise you to call them and see what they can do. That can't hurt and it's better to try and head off a problem and face it than to call after the fact.

Hi G........My suggestion for you is certainly TRY and go for the reduced payments with the leasing company.In this economy, many businesses will work with you and are happy to get SOMETHING from people struggling. There are many. Just tell them, you can pay them THIS much now and that's all you can do. They may extend your lease time then..and that's okay, cuz HOPEFULLY you'll have a better income again in a few years. Question...is it an open-end or close-end lease? Ask also if they will refinance your lease...that's going crazy in the housing industry now.
Be sure you direct all your conversation to a supervisor who can make decisions.
Just some thoughts from me. Good Luck! J.