Update: I found a buddy who will take the lease over. He has bad credit so I'm offering to just give it to him with automatic payments and a contract. Bad idea?

It's a better idea than your previous idea, but not by much.

You don't think major damage to credit in your home country is a pretty big opportunity cost in the long run?
This is a decent idea.

How many friends do you have, toothsayer?

No, seriously, I don't think it's a good idea. I looked up the lease and I'm not allowed to sublease to anyone. I'm thinking if he goes over miles or gets in a wreck, it could fall back on me.

It was a joke. Giving your "bad credit" buddy the car is the same situation you're in now with no payments/repossession/credit screwed and adding on the possibility of being liable for a wreck. If you can lock him into payments and insurance then great.

You can actually get someone to officially take over the lease. Even if this guy has bad credit, call the damn leasing company and try to push it through. Let them know you are out of the country, not coming back, and that you might turn it in (all true). To avoid this, you would like to transfer the lease to someone. If that fails, you can roll the dice and hope he doesn't screw up in a big way...or you can go another route.

Pick up the phone and call the people who matter (the ones who can ruin your credit). Be honest about your situation, but you can shade it to the desperate side, as well. Car companies do not want headaches. If you tell them they can "come and get it" it will cost them more money do deal with this. Tell them that you have put in the time to "help them out".....and that you have found someone to take over the last two years of the lease.

Yeah solid advice.

That lease swap website is a scam by the way. Way overpriced for something I can do on craigslist.

For the amount of time you've put into getting 5 different action plans from internet randos you could have resolved the issue over the phone. No clue why you didn't talk to the leasor first

lol

Hey guys,

I have a friend that's in a similar (but much worse) position.

He is a full-time Uber driver and currently owns 2 cars (Suburban 2016 & 2018)

Car 1: Owes 60k - valued at 20k

Car 2: Owes 70k - valued at 40k


He makes around 60k gross on Uber per ear. (I tried explaining the math to him why Uber is a terrible investment of money and time years ago, he just didn't listen to me - now it seems a little late for that)


Given his current situation what would you guys advise him to do?

Maybe... filling for bankruptcy?


p.s: he also pays $700 monthly for insurance.

I did. And it didn't.

Internet randos are the whole reason you're here, aren't they?

LOL if he's underwater that much just file for bankruptcy.

I'd be interested in knowing how being paid by ear works.

$200*24= $4800 Mr. Physics Degree

No such thing as no commitment. See if they'll settle the lease for a lump sum. Dont lease again obv

I'd probably just quit making payments and drive (for uber?) until they repo they cars. BK if creditors sue.

Driving a $70k car for uber is an elite level of stupid. Did he breakeven on the $60k gross in 2018?