Re: Need advice on personal finance
Alright here's what my lease says about termination. I think if I write this down on paper and show my DH the numbers he can't disagree with me anymore.
But I need some help because I don't understand parts of it;
I agree that the amount I owe you upon early termination will be dertmined to be the sum of 1, 2, 3, and 4**
1. Any official fees and sales/use taxes imposed in connection with lease termination.
2. Any Monthly payments already due you with are unpaid and any other amounts/charges caused by my failure to keep my promises under this lease.
3. Any early termination charge of $395 plus the number of Base Montly Payments shown in the following table which is based upon the percentage of months in the lease term which have expired:
Percentage of Lease Term Expired # of Base Monthly Payments
up to and including 33% 3
More than 33% but not exceeding 66% 2
More than 66%, but not exceeding 99% 1
4. The amount by which the Adjusted Lease Balance as described in Item 1A exceeds the vehicles realized value at termination.
Ok I understand point #2- we aren't behind in any payments.
now 1, 3, and 4. I have no idea!
My other question is it says they will value the vehicle at what it's worth. Then do I have to pay the difference of what it's worth and my lease? I don't understand, please help!!!
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