Topic: Transfer a lease of a Corolla 2004

[Peaches]

We recently learned that my father has a degenerative desease and he can't drive anymore. He leased a Toyota 2004 Corolla in last July. It has less than 10 000 KM. My mother and I don't know what to do since we have both of us a car. Is there anything we should know about the contract or any leasebuster place or anything that could help} because he doesn't work anymore and we don't have much money to have an extra car in the driveway. Or do you know somebody who would be interested in?  It's a Corolla 2004, CE group B. The monthly payment is 305$

[Mdxtasy]

I'm sorry to hear of your father's disease.  You can advertise it as a takeover.  Just have the buyer assume the lease so he/she does not have to pay out of pocket the down payment or any other upfront costs you guys paid for.  He/she will still need to be approved by the lending party (Toyota Credit) and your dealer should be able to take care of that for you.

[Sterling]

You need to call Toyota Credit or whoever it is leased through (not the dealer you got it from) and discuss the situation. They will be able to advise you as to your options.

As Mdxtasy said, getting someone to takeover the lease can be relatively easy. Check the market though. For example, if Toyota is currently leasing '05 Corollas for $305/mo it may be tough to find someone wanting to pay that for an '04. In that case you may have to sweeten your offer to move the car, e.g. "Take over payments of $305 and get $1000 cash to you.

[Morningla]

look what i found for you...
http://www.leasebusters.com/?AID=9497334&PID=1532919
hope that helps...

[neil]

Peaches, check your dad's paperwork and see if he got disability insurance on his lease!!!  Many people forget or don't really know what they bought, so maybe he go it.  If he did, you and your mom don't have to worry about the payments until he's either better (sorry to hear about the illness, I know it's a tough road) or the lease ends.

So many people think the insurance is not worth it, but they haven't seen the tears of joy of my customers when their loan is paid out in time of need.

[Peaches]

thanks everybody....i will look for his paperwork to see if he has insurances and I will also take a big look on lease buster web site, we already spoke to Toyota credit and they told us that usually the leaser has to compensate them for the loss if THEY sale the car, etc... but thank you all for your help!!!

[safristi]

Neil can we send ya warm underpants or a Coleman stove ta help ya out....minus 500 or something out there..Brrrr ..don't scratch them,they may fall off and shatter......