lundi 29 octobre 2018

Debt Collectors: Terminating Car Lease

Hi Everyone,

I'm looking for some help.

In Jan 2018 I signed a lease with Volkswagen Credit for 48 months. Because I was an international student and I can only stay in US for couple years if I don't get a working Visa. I told my agent that I might need to get out of my lease early. He told me that there's a 'buy-in program' so they will take my car back. He said that there would be a little fee charged and it would be very easy to transfer/end the lease.

Because of my Visa, I had to exit US before Sep 2018. I went to my dealer in July before I left and they asked me for 8k for the 'buy-in program'. I couldn't afford it and wanted to terminate the contract. So they helped me listing my car in the market. I have been waited for more than 3 months but no one is taking over my lease. And I'm paying the monthly payment still. I cannot afford the payment and the insurance anymore.

The car is no longer beging used anymore since July and it has been parked in my friend's parking lot. I left US and my driver licence is expired already as I'm not able to renew it legally.

I just wanted some help. How should I get out of my lease quickly? Is that legal for the dealer to continue the lease contract with me (I'm no longer legally live or drive in US)? Is that possible for them to ternimate the lease in this case?

Also can someone advise on what will happen if I ask my friend to return the car to the dealer and I stop the payments?

I was so anxious. I didn't have any credit when I first entered US and I got a really good score after 4 years. I don't know how this will impact my score and my future life. Any suggestion/ advise would be appreciated at this point.

Thank you in advance!


Debt Collectors: Terminating Car Lease

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