Thread: locked into an expensive lease: can i get out?

Reply to Thread
Page 1 of 2 12 LastLast
Results 1 to 10 of 11
  1. #1 locked into an expensive lease: can i get out? 
    Regards to all you REDUSER users.

    I am writing to ask for advice to a problem i got myself into. Despite the advice of everyone around me I invested in a ARRI ALEXA MINI. My thinking was the camera was so popular that I would be able to pay it with side rentals, or perhaps cosigning it to rental house. Unfortunately after five months I am struggling to make the monthly payments on it, and I am barely on year one of my four year lease. My question to your wise gentlemen(women) if I have a way out of this lease? I have been reviewing the paper work and I dont see any language in which there is an exit option. Any words of advice would be much appreciated.


    Reply With Quote  

  2. #2  
    Senior Member Wil Wong's Avatar
    Join Date
    May 2012
    Toronto, Canada
    Like a car, you might be able to find someone willing to take over the lease or buy it outright from the company. Just a thought.
    Movme inc.
    Red Epic-W s/n 4015, 8K Digital Cinema Camera
    MacBook Pro 6 core, FCP-X
    DJI Ronin, Ready Rig, Vaxis 500+, Tilta Nucleus-M, OSEE HSM-700, Dynacore Mini
    Reply With Quote  

  3. #3  
    Senior Member
    Join Date
    Nov 2012
    what's the monthly payment? it's a lease so you dont own it at the end?
    you should be able to get someone to take it over if it's reasonable, but obviously their credit has to be checked out. Im not sure why you are not asking the place you leased from though.
    advice, nothing rents itself. you have to market your product, even if that costs money. or get it into the hands of a rental house that will split the profits with you. that's what most people do.
    Reply With Quote  

  4. #4  
    Senior Member Domenic Barbero's Avatar
    Join Date
    Nov 2011
    if youre in the states, you can park it at my rental house in seattle :)

    Arri Alexa Mini/Amira
    RED Epic-X Dragon
    RED Scarlet W
    Canon C300 Mark i/ii
    Ursa Mini Pro
    Sony A7s/r ii
    Cooke Panchro/i Classics
    Atlas Orion Anamorphic set
    Angenieux EZ1/2
    Celere HS PL lens set 25,36,50,85
    Leica R, 19,24,35,50,80,135 duclos
    DSO Trump series 38,58,88
    Sigma Cine Primes 20,24,35,50,85
    Contax Zeiss 25,35,50,85,100,180,300 superspeeds
    GL Optics 18-35, 50-100, 70-200
    tokina 11-16 PL
    Cooke 18-100
    Reply With Quote  

  5. #5  
    Senior Member
    Join Date
    Dec 2009
    Hollywood, USA
    You might post a message looking for a business partner to rent out the camera, or to take over the lease, over on the Arri Alexa user group:
    marc wielage, csi • colorist/post consultant • daVinci Resolve Certified Trainer
    Reply With Quote  

  6. #6  
    Senior Member Bob Gundu's Avatar
    Join Date
    Mar 2011
    Toronto, ON Canada

    VFX, Cinematographer, Photographer
    10 frame handles
    Reply With Quote  

  7. #7  
    Junior Member
    Join Date
    Aug 2018
    Hi Gerad!

    Like a car, you might be able to find someone willing to take over the lease or buy it outright from the company. Just a thought.

    best regards,

    sex shop online
    gratis porno
    kostenlose porno
    Last edited by tocnaza; 01-23-2019 at 10:52 AM.
    Reply With Quote  

  8. #8  
    Digital FX Greg M's Avatar
    Join Date
    Dec 2006
    Leases, unlike loans typically don't offer a principal payment buyout. In other words they have a pre-payment penalty. Loans typically waive this and allow you to buyout the loan for the remaining principal owed.

    Normally the only way out is to payoff the remaining notes in advance. Interest is calculated on the front end, so you will have to pay the full amount.

    The other option is to find someone to takeover, although lease companies typically don't like or support this, so unless the new buyer has substantially higher credit...the chances are unlikely. Add this to the fact that you probably owe more than you can sell outright for which means you are upside down. Finding someone willing to pay more than what they can buy new for just isn't going to happen.

    The final option is to default. So your best bet is to find new clients asap.


    RED One #83
    RED CF Monstro 8K VV
    RED CF Weapon 8K S35 Helium
    RED CF Weapon 8K S35 Helium
    Reply With Quote  

  9. #9  
    Senior Member Jeffery Anderson's Avatar
    Join Date
    Jul 2012
    San Francisco
    you are probably behind the trend as Alexa anything(beside the Large Format) isn't 4k and feature films all want to shoot in 4k+ to insure future proofing the movie

    A rental house like Domenic mentioned, might take it, but they might have also bought one of the lots that are being sold right now used.

    Probably the best person to comment would be a Rental House, not a bunch of cinematographers that shoot Red Cinema Cameras
    I have to try and change the landscape, whatever it is.
    -Robert Plant
    Reply With Quote  

  10. #10  
    Discuss it with the leasing company. Nothing is set in stone. If they fear you will default then they might be willing to negotiate about a lower monthly cost. Or at least check what your options are, if you can get out of the leasing by finding someone willing to take your place.

    What the total would be to become the owner of the camera.

    Or, opposite. What the total would be to just get out of the leasing and let them keep the camera. Sometimes it's better to bite the bullet.

    If I may ask, how much would you want to rent it for on a monthly basis?
    Björn Benckert
    Creative Lead & Founder Syndicate Entertainment AB
    Flame / VFX / Motion capture / Monstro
    Reply With Quote  

Posting Permissions
  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts