Just a quick question for a friend that I wasn't too sure of either. Can one change the terms of a lease? My friend is locked in at $239 a month for her new Civic for the next three years...has already paid on time every month for a year, 4 year lease, duh! Anyway, her credit has improved over the past year, so how would she go about lowering her monthly payment? Of course it would be stupid to put more money down, but can she just continue the remaining three years with a new contract and a lower monthly payment? Or does it depend on the dealer and/or Honda? Thanks!
She signed a 4 year lease. She is stuck with it for 3 more years. The only way to get out of it is to pay off the lease.
Your friend can't change the terms of the current lease, but she can call for a payoff and find a financial institution that will convert it to a loan for her. She can also trade it in on another vehicle, but she may be too upside down for this with only paying 1 year of the lease. You always have options, they may just not be very good ones. Michelle
