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How do you get out of an auto lease that has two years to go?

In: Auto Loans and Financing [Edit categories]

Answer:

The best way to get out of your car lease it to use a car lease exchange marketplace and find someone to take it over. Some of these you could use are swap a lease or the newest www.carleasedepot.com. The process is simple. Go to the website and post up your car lease details. You will then start to receive messages about your car from interested lease buyers. If you negotiate an agreement with the buyer then he/she would fill a credit request from the leasing company(ex.GMAC). If approved the buyer would fill out the lease transfer application form and get approved for the lease transfer. Exchange keys and you are done.

Normally you would add a cash incentive to spice up the deal but if you put a large enough down payment and your car lease is attractive then it is not necessary.

Also make sure that your car leasing company allows full transfer of contract responsibility. 80% allow full transfer of the lease agreement but some do not and if the new lease buyer fails to pay the monthly payments, the leasing company would return to you for payments so double check.

Other than that, there is no "out" from a lease ... check ALL the fine print of your agreement, and if there is a "clause" for termination, read it very very carefully and understand every single word. Chances are good that you would still have to fulfill the monetary obligations of the lease, even if you turned the car back in early. Hard to believe a lease at $800 per month when one can be bought outright for about $400 per month.

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First answer by Bozidar. Last edit by Tonycip. Contributor trust: 1 [recommend contributor ]. Question popularity: 4 [Recommended].

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