Blog

Terminating a Car Lease Early

Terminating a Car Lease Early
 
Many people are under the impression that once you’re in a car lease, you are stuck in it until the expiry date. However, there are many ways to get out of or alter your lease to fit your needs and preferences. Read ahead to learn how you adjust your lease and the different options that you have available to you.
 
If you know someone else who is interested in taking over your lease, you can transfer it over to another party. This method is cheap as it will only cost you in administrative fees and can help prevent you from paying a lease that you are not interested in.
 
If you’re still interested in leasing a different vehicle, you have the option of trading leases. If the car is worth less than the lease payments, you will have to pay the difference on top of whatever your new lease is.
 
Finally, if you acquire a sudden influx of cash, you also have the option of paying the remainder of your lease off. If the vehicle is worth more than the buyout, you will have the possibility of making money on the car.