Lease termination due to death?
 

I recently lost both parents. Dad was half way thru a lease, in his name only, with Ally. They want $5800 to return the car early. That's 12 payments of the 14 months left on the lease.
The car is in perfect shape I detailed it before going to the local dealer for the above info. Ally will not talk to me personally.

What are my options? I do not need another car, His payment is higher than what a person can lease a new one for so a lease-takeover sale is not probable.
Thanks!

Check out swap a lease, great way to get out of a lease early

Ally is such a pain in the ass.

Just tell them to come get the car.

First, I am sorry to hear of your recent losses.

On the lease question: I would recommend returning the car to the nearest GM dealer. Tell them that your father has passed away and thus the payments will no longer be made. The dealer will have Ally move the car to a GM auction.

Ken Fichtner

Ken,
Will they come after me?
Or worse turn it over to a collections agency?
Thanks!

Did you co sign on the lease? Is your name on the title? If not, you should be safe. If so, you may be liable.

Are you the executor of your father's estate? If so, you may hear from Ally as they try to recoup some of their so called "losses" on the early lease termination.

If the answers to all of the above are "NO", then F'em and just turn the car in. You are not liable just because you are his son, unless one of the other conditions above has been met.

Good luck!
:thumbs:

Everyone thanks!
I talked to my attorney and he also said to return it. Called Ally and told them were I was taking the vehicle, that it was detailed and ready for resale. The Dealership did the odometer statement. I signed with an "X" and will now await chapter 2.

Perfect. I am pleased that your attorney gave you the same advice.
Ken Fichtner