When your lease is up, you can simply turn in the keys and lease another
car or buy a new one. But how about getting out before the lease ends?
Maybe you can’t afford the sky-high payments on that silky Jaguar JX V6
model anymore or you’ve just had a baby and you need a larger and more
spacious vehicle?
Unfortunately getting out of a lease is not as easy as getting in! A
leasing contract is difficult and expensive to terminate early. Simply
turning in the keys and walking away from a lease can result in stiff
penalties. You credit could be ruined and you could even get sued for
breach of contract.
It’s not all doom and gloom though. Actually, there is a number of
options available to you.
You can sell the car yourself and pay off the bank. This can be cost
effective if the market value of the car is close to the buy-out number.
Do not hesitate to exercise this option even at a loss if it happens to be
lower than the termination fee.
Your best option, though, is to transfer your lease for someone who would
“assume it” and take it off your hands. There is a whole set of potential
buyers looking for short-term leases without all the hassle and extra
costs. Check with family and friends or use the services of lease-
assumption websites, like swapalease.com, to list your car. Make sure you
check the credit worthiness of the new lessee and provide the car in good
condition.
Go Green And Save On Your Lease
Beginning in 2006, businesses and taxpayers who lease, or pu...
go-green-and-save-on-your-lease.php
Leasing With Bad Credit
Credit score is a measure of your credit worthiness used ...
leasing-with-bad-credit.php
Lease Trading
Trading a lease is the best option for people who want to terminate a lease early and don’t want to pay the larg...
lease-trading.php
Auto Insurance And Leasing
When you lease, the vehicle that you will drive belongs to the leasing company. They w...
auto-insurance-and-leasing.php
Leasing Used Cars Explained
Leasing a used vehicle can be an attractive deal in...
leasing-used-cars-explained.php
Luxury Cars And Resale Values
The most determining factor when it comes to resale values is public pe...
luxury-cars-and-resale-values.php
Fees Involved In Leasing
At the beginning of the lease, you have to pay a refundable security deposit, typically equivalent to one monthly p...
fees-involved-in-leasing.php
Leasing And Your Credit Score
The leasing contract stipulates that you make regular, monthly payments over your lease term. The cr...
leasing-and-your-credit-score.php
How To Calculate Your Lease Payment
Actually, it’s not that difficult! Once you understand all the f...
how-to-calculate-your-lease-payment.php
How To Spot A Good Car Lease
So how do you spot a good deal? ...
how-to-spot-a-good-car-lease.php
How To Lease A New Car
Check incentives: be on the look-out for factory –subsidized lease dea...
how-to-lease-a-new-car.php
Leasing Glossary
Acquisition fee: A fee charged by a leasing company to begin a lease. Not all leasing companies charge an acqu...
leasing-glossary.php
Auto Leasing Scams
Here we look at some of these common scams and how to avoid them...
auto-leasing-scams.php
The Residual Value Of Leasing
Let us first start by looking at the meaning of residual value. The term “residual value”, refers to the...
the-residual-value-of-leasing.php
Buy Or Lease
As is the case with every other common dilemma, there is ...
buy-or-lease.php
Buy A Car At The End Of Your Lease
First, you need to know the cost of buying out your lease. Read the fine print of your contract and look for th...
buy-a-car-at-the-end-of-your-lease.php
Using Lease Calculators
If you are considering a car lease, then you might want to kn...
using-lease-calculators.php
Independent Car Lease Companies
So which one is better?...
independent-car-lease-companies.php
Single Payment Lease
There are two amounts in a conventional lease that incur charges and determine your monthly lease payments. First,...
single-payment-lease.php
How To Avoid Extra Costs At The End Of Your Lease
$250 to dispose of your vehicle, $1000 for extra miles you put on the clockand $200 to replace the light bulb and the ...
how-to-avoid-extra-costs-at-the-end-of-your-lease.php
Benefits Of Leasing
Benefit Number 1: Keeping up with the latest trends...
benefits-of-leasing.php
Lease Financing
Well, no quite! When you lease a car, you’re only using the car over a specified period of time with th...
lease-financing.php
Dealer Leasing Tricks
Here is a look at some of the tricks dealers use to pad their profits and leav...
dealer-leasing-tricks.php