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Below is a list of the most common customer questions. If you can’t find an answer to your question, please don’t hesitate to reach out to us.
Sell your leased car and get a check. You can take your car to any dealer, not just the one where you arranged the lease, and let the dealer buy the car at the trade-in price. Sell your leased car to a neighbor, friend or family member. Use it as the down payment on your next car.
If your leasing company offers the option, ending your car lease early means you're released from making remaining payments on your current leased vehicle. But it also means that you have to turn in the car and pay the balance due, including any costs, fees and penalties associated with early termination.
While most leases include an early-termination clause, the penalty fees for ending your lease early are stiff. Additionally, the car dealer has the legal right to collect termination fees and other costs from the lessee. But what most don't know is: Yes, you can get out of a car lease without hurting your credit.
Read Your Agreement Carefully. Try to Find Someone to Take Over Your Lease. Trade It for Another Vehicle. Take the Early Buyout Option. Or, Just Wait It Out.
A lease transfer is by far the most inexpensive way to get out of a lease. The only cost to you will be any administration fees to complete the lease transfer. An early buyout is where you pay the dealership the entire balance of outstanding payments left on the lease, plus the residual value and any applicable taxes.
There are no laws that allow you to terminate the car lease after 24 hours or 3 days of the deal. If you really want to come out of the lease, you can either go for 'early lease buyout' or 'transfer the lease' but depending on the contract, you can't do that for a year.
Don't schedule the appointment at your dealership. Repair damaged bumpers, broken windshields or bald tires. Don't sweat minor door dings, scratches and upholstery stains. Keep all the equipment. Make sure that your car gets scheduled maintenance. Think twice about wear-and-tear insurance.
If you can afford to buy out your lease, you have the option to return your leased car to the dealership. Provided you pay the difference between the amount you have paid to date and the amount you owe for the remainder of the lease, your credit will not suffer when you return the vehicle.
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