Job Discussion Forums

bauerke · Joined: 03 Feb 2007 Posts: 11 Location: USA

I was just wondering if anyone was in a similar situation as myself. I am seriously considering taking a teaching position in Korea in the next couple of months, however, I still have a leased vehicle in the states until 2008. Has anyone else ever had a similar dilemma? I've pretty much come to terms with having to pay for something I won't be using for the next year, but the problem lies in the logistics. Is it difficult to pay bills or transfer funds while overseas? Please forgive my financial stupidity in advance... Question

jammish · Joined: 17 Nov 2005 Posts: 1704

It can be a kerfuffle from China, but AFAIK it's quite easy to transfer from Korea.

Kramer · Joined: 27 Aug 2006 Posts: 16

This is one of many reasons why car leases can be real bad deals. I would read over your contract carefully -- a few will allow for a lease transfer (this would still cost you a lot of money, but you would salvage something and avoid storage and license fees). You can google this to get more info if it is actually possible for your contract.

Paying the bill (assuming you have the money) will be a piece of cake. You could probably pay the company directly via their web site by giving them your US bank account number or credit card or debit card (I pay bills using all three of these methods). You can pretty easily transfer money from Korea (see that board for more details). You could transfer the Korea savings money to your US bank account regularly and do a bill pay from your US account. For most bill pays, you need the account number you are sending to . . . a few even have a paper check option. And you can schedule payments regularly so you do not even need to log in.

My dad became ill and could no longer drive and he could not get out of or transfer his quite expensive car lease.

Kramer

Deconstructor · Joined: 30 Dec 2003 Posts: 775 Location: Montreal

I think you can transfer your lease (as already mentioned above). There are many people who would love to have a car but not commit themselves for three or four years of payment.

A friend of mine just went back to Colombia permanently. He transferred his four-year lease ($300 a month) for a brand new Corolla. He had the car for only two years.

nickpellatt · Joined: 08 Dec 2006 Posts: 1522

As suggested, do check the small print on your contract.....I know things greatly differ from UK to USA, but in the UK there may well have been a way out at no further cost to yourself, depending upon the nature of the contract and how far into the term you are...there certainly was when I worked in the trade in the UK

The_Hanged_Man · Joined: 10 Oct 2004 Posts: 224 Location: Tbilisi, Georgia

I was in the exact same position before leaving for Kuwait this last fall. I had a year left on my lease, and assumed that I would be stuck with the payments.

However, the dealer I returned the car to liked the vehicle and decided to purchase it, thereby letting me off the hook for the payments. So, there are ways out of it.

rossttuedu · Joined: 03 Feb 2006 Posts: 66 Location: Tianjin

I have used the automatic bill pay with my bank back in the U.S. I just transfer in funds to my bank account and the auto bill pay then does what it is supposed to. As said, you will of course need to supply the information of the bank or company you will be paying. Also, I know that not all banks provide auto bill pay as a service and others charge for it. Anyhow, good luck.