Early Car Lease Termination

Transfer the car lease has become the most popular form of early car lease termination because it's easy and cost effective. Check you lease agreement or contact your lease company to ensure they allow lease transfers. There are a few companies that don't allow transfers. If that's the case there are other options for you.

To transfer a lease you simply need to find someone who is credit worthy and wants to takeover the lease agreement. Swapalease makes this process very easy. They have a database consisting of thousands of prequalified people who are ready to assume a lease agreement.

Visit Swapalease.com to learn more about their program.

If you're in a financial bind this may not be a good option for you. You will need an sufficient cash to complete the transaction. You have the option to keep the vehicle or sell it.

Vehicle depreciates the most in the first two years. If you're planning to re-sell, the value of the car maybe less then the buyout price and you will be out of pocket for the difference.

Check with you lease company to find out the buyout price. Check with Edmunds.com to determine the market value for the vehicle. Depending on where you live you may also be required to pay sales tax.

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A simple way to end your lease is to return the leased vehicle to the dealership before the lease expires. You are still responsible for the remainder of the monthly payments on the lease.

If you decide not to make the payments it may relieve financial stress for a short period of time but your credit score will be ruined. In the future you will not be able to purchase items that require credit or you will be charged an extremely high interest rate.