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Q. I leased a car through my company with a personal guarantee and because my business is off, I can't afford the payments. The only option the leasing company is offering me is to trade the car for a less expensive vehicle that will then lower my monthly payment and will require me to extend the lease for several years. The car value is upside down so selling it is not an option. Is there any way to get out of this lease?
A. This is one of the reasons I am not a great fan of automobile leasing. While there are some circumstances where a lease is a reasonable fiscal option, they don’t fit the vast majority of people who lease and the end result is that...