Early lease terminations can be an expensive way to end an automobile contract. In the last decade, leasing has grown in popularity. Vehicle owners are exploring more affordable ways of owning personal cars, and leasing provides an avenue where lessees can drive their car of choice at an affordable rate.
However, most leases are based on four or five-year programs. Once the term of the lease is up, the lessee returns the car back to the dealership and likely signs a new lease for another term of four or five years. However, in some cases, the lessee wants to trade the car in before fulfilling the full term of the lease. These cases are known as early lease terminations.
Some dealerships require the lessee to pay a penalty fee for breaking the lease in addition to the balance of the remaining payments. Unless the dealership has a customer who is looking for a short-term lease (someone who takes over the lease responsibility for the original lessee) the costs of early lease terminations can be exorbitant.
We Can Help with Early Lease Terminations
The dealership makes little effort to accommodate lease terminations. You'll receive the lowest possible value for the car, leaving you with the most financial responsibility. Courtesy Car Ltd. can monitor the wholesale value of your leased vehicle through wholesale dealer auctions. This effort will help protect you against overpaying on a lease termination. If you're trying to get out of an existing lease, contact us today at (888) 608-6500.
Early Lease Terminations