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Has anyone terminated their lease early or know someone who has? I just started my Lease in Feb 2008. I am sadly considering doing this because of gas prices. I really love this truck, its the best vehicle I have ever owned. But the gas prices are killing me. I live in CT and we have the highest gas tax in the country and of course the prices of gas will keep going up. The average price of gas near me is $4.28 Regular. I havent contacted my dealer because I kind of feel like an idiot asking him about how much I am going to have to pay, because I know he will start saying, are you sure you want to do this, blah blah blah. Freaking government, help with the prices of gas already!!
 

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I think you will find that for the cost of terminating your current lease and acquiring another vehicle, you can buy a heckuva lot of gas. I don't know how much or how you drive but using my numbers for instance:

I drive 10,000 miles a year - mostly city, so that's about 16 MPG (using the latest EPA estimates)
10,000 / 16 = 625 gallons per year.

For the sake of argument, let's say gas is $5/gallon. So that $3,125/year in gas.

But, whatever you replace your Acadia with is going to need gas, too. Let's say it's an average sedan and gets 25 mpg city.
10,000 / 25 *5 = $2,000. So the Acadia is only costing 1,125 extra per year in gas (less than $100 per month), and that's at $5/gallon. On a 3 year lease, that's only $3,375. I'm willing to bet it'll cost you more than that to get out of your lease if you just started leasing in February.

But fill in your own numbers and see how it works out for you.

Best of luck,

DBinMV
 

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If you're trying to get out due to gas prices 3 months into a lease, it sounds like you really couldn't afford the vehicle in the first place. I agree with DBinMV that you're going to take it in the shorts to get out at this point. You're probably best off trying to gut it out.
 

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Your gonna pass out once you find out the cost to terminate the lease via GM....if you really want to dump the vehicle, then look into a reputable lease assumption service to take over your lease payment obligations BUT you will still be liable for the vehicle under the GMAC contract.

I am sorry to hear about your circumstances, hope everything works out for you.
 

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DB, it never crossed my mine but with simple math, I can budget my fuel consumption for the year. When I plan for expenses, it is a lot easier to cope with expected stress rather than...surprise, you are broke :D
 

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Schram - budgeting is a beautiful thing. For '08, we budgeted for $5 gas with the Acadia and our other current cars assuming we continue driving like we always have. Yes, we had to not buy some other things we might have otherwise bought, but we have been setting aside that much all year so far. In addition, we got the Shell Master Card and get 5% back on all the gas purchases and 1% back on all other purchases. From that we have averaged about $50 per month towards gas. So right now we are way ahead on our gas budget. It's amazing how if you plan for more than you spend, it just doesn't seem as bad.

Even with that, gas prices suck. :)
 
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