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How to exit your lease early

There are plenty of reasons why a lessee might be wishing to early exit his car lease before the end of the lease agreement. Usually, here are the common reasons why a lease owner might decide this:

  • When the leased vehicle has excessive extra miles or it went through a lot of wear and tear and it would be quite expensive to pay that off at the end of the lease period.
  • When the lessee wants to drive a new vehicle.
  • When the lifestyle of the lessee requires them to drive a different vehicle after a few months.

A good thing is exiting a lease is not a painful process if you understand your options well. For many people, it has been favorable to transfer the vehicle lease because it is the least inexpensive way of eliminating a lease liability.

When you are currently in a lease agreement, you are bound into this liability for the remainder of the lease term. This is not a month-to-month liability. If you can come up with a way to exit the lease without paying a huge penalty, then you are doing yourself a great favor as you are avoiding a much larger liability than just the monthly payments. However, take enough time and patience to make this decision. It is just a small exercise of patience and logistics before you walk out of the lease.

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