Car Lease Question

[itcaughtup]

Hi Guys- my question is about my lease. If my leasing company refuses to reaffirm my lease but I continue to pay it on time and until the end BUT end up over the mileage of the lease contract, will I be held responsible for over mileage fees. Let me say also that I wanted to reaffirm but they wont, I have never been late with them and I have 11 months left on my lease, any thoughts??

[jgordo52]

I'm assuming that if you do a ride through it would be as if you didn't do bankruptcy. If you're not buying the car then you will be charged your over-mileage rate. I'm sure someone will chime in on this soon though with more knowledge than me.

[itcaughtup]

I figured that But I'm also thinking that they were notifies of my filing for ch7, so if i do a ride through wouldn't it be more of a convenience for them than me? Seems like some sort of new issue pops up everyday...

[bmcmull]

Its better for them if you keep the car, if they take it now it would certainly not bring what the payoff is at auction. However do not expect them to re-lease post bk. I would also expect to pay the over mileage and excess wear and tear

[Help!]

I'm in the same boat with a lease ending next March. I have never turned in a leased vehicle. We will be paying for the mileage and are prepared for that, but the "wear and tear" part worries me. We are returning an SUV with a residual much higher than its market value right now. Has anyone paid for excess wear and tear that can throw us some numbers??

[gophermn]

Nope. They are aware that there will be normal wear-n-tear. Minor scratches, etc. As long as it is looking nice when you hand over the keys you should be ok. My last vehicle (TrailBlazer) had 4 replaced windshields, body work from an accident and they took it no questions asked.
Good luck!
And yes, they will ask for $$$ for being over the miles. I am currently sitting at 40k on a 45k mile lease which expires 12/2008. NEVER AGAIN! UGGGH!

[itcaughtup]

Thanks for the info but I'm unclear how they can ask for the over mileage fees if they do not want to re-affirm? Wouldn't any debt associated with the lease be discharged if in fact my case gets discharged??