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#1
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Question about auto leasing after losing license
Due to his deteriorating eyesight my 89 year old father is having to return
his Honda after 3 years of a 5 year lease. It has low mileage (18K), but I get the impression he is going to be facing a pretty hefty amount when he returns the car. Can someone advise us as to approximately what his cost will be for only using 3/5 ths of the lease? What are his options? Can he sell the car? Can the leasing company and/or he find another party to assume the lease? As you can see I am a novice when it comes to this leasing "stuff", so any help you can provide would be greatly appreciated. After all it is difficult enough for him to have to give up his license after all these years - much less take it on the chin from the leasing company. Thank you for your time. Michael T. |
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#2
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A five year lease at the age of 86 was not a great idea, but you know
that. That's a clean car with low mileage and it does have value. Unless there is some provision in the lease it will cost something extra. Remember, there is a true cost to the person that leased it as a new vehicle. They are not necessarily screwing anybody. If the cost is too great, maybe you or another family member could take it over or even purchase the vehicle. |
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