Car Leasing 401 - Terminating a Car Lease

Ending a Vehicle Lease

Lease termination is when the lessee (define: lessee) of the vehicle either breaks the lease agreement during the lease term, thus terminating the lease, or running the lease to it’s lease end and returning the leased car back to the leasing company.

Early auto lease termination often results in overcharges, when the consumer/lessee is forced to go through a local dealer or leasing company to complete a lease termination. Even when not required by the lessor (define: lessor), many consumers terminate their leases upon purchasing or leasing another vehicle.

If a consumer breaks their car lease during the lease term – Yes, you will get stuck with a hefty penalty fee from the leasing company. Early termination can cost the consumer thousands of dollars.

How can the consumer protect themselves when terminating a car lease?

• Do not let anyone rush you when going through the leasing agreement. Challenge any assertion that a quoted price is good for one day only. A good sales person will be happy to help you through process. Ensure you read your lease agreement thoroughly before you sign it
  
• Pay special attention to end-of-lease charges. Make certain you know how these will be calculated and how much you should expect to pay when the lease is up.
  
• Pay special attention to early termination charges. Be certain you know whether or not you can terminate the lease early and, if you do, what the charges will be.
  
• It’s the consumers due diligence – similar to any contract or agreement you sign, read it thoroughly and know what you’re signing.

Are their options to break the lease during the lease contract and not pay any penalties? Yes.

An effective way to terminating a car lease agreement without paying any penalties is to find another consumer to take over the leasing payments and agreement – essentially, taking over a short-term lease contact. (sponsor) AutoLeaseBreakers.com is an online auto leasing marketplace for consumers who are seeking to get out of a car lease (sponsor) through swap a lease process, and those seeking to take over a car lease for the remainder of the lease agreement - short-term auto lease.

Terminating a lease agreement and transferring the vehicle lease to another consumer can save you thousands of dollars in penalty fees.

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Part V: Benefits of Transfer a Car Lease