Lease Termination Options
There are three main ways to end a lease: fulfilling the original terms of your lease and letting it “die naturally”; engaging in a lease transfer; and ending your lease early, before your contract’s terms have been fulfilled.
Each of these ways has its benefits and drawbacks, depending on your situation and needs. Here, we’ll go through them, one at a time, so you can learn which method might suit you the best.
Fulfilling Your Lease’s Terms
The most common way to end a lease is to simply let the lease run its course, fulfilling all the obligations of the original leasing contract. Easy. No penalties, everything nice and clean. But sometimes a person wants out of a leasing contract earlier than the terms of the lease call for. Life happens, things change. People marry and have children. They lose jobs and can no longer afford a vehicle they’d leased, needing a smaller or more fuel-efficient one instead. Or maybe they can’t afford to lease at all. Someone might take up a new hobby or interest that might require his hauling around gear and equipment, and the little coupe or sedan he’d leased no longer fulfills his needs.
Whatever reason you might have for ending a lease early, there are two main ways to go about that: a lease transfer, or an early lease termination.
Lease Transfers
A lease transfer is allowing another party to take over your existing lease. That party will assume all the responsibilities of that lease, including making all the remaining payments. A person might want to assume another’s lease because he doesn’t want to make a down payment, or he simply doesn’t want to take on a full term lease. Whatever that party’s reasons, we have a database of people who are looking to assume someone else’s lease. Give us a call and we’ll match you up with someone who’d be thrilled to take over your present lease!
Ending Your Lease Early
The other way of ending your lease early is an early lease termination. This often involves paying a penalty, but it frees you up to lease a different vehicle if you desire.
No matter how you end your lease, if you want to lease a different vehicle, we offer you tons of options! We’re able to lease to you any new model vehicle made by Acura, Audi, BMW, Buick, Cadillac, Chevrolet, Chrysler, Dodge, Ford, GMC, Honda, Hyundai, Infiniti, Jaguar, Jeep, Kia, Land Rover, Lexus, Lincoln, Maserati, Mazda, Mercedes-Benz, MINI, Mitsubishi, Nissan, Porsche, Ram, Subaru, Smart, Toyota, Volkswagen, or Volvo. We’re able to lease them to you, too, for the lowest prices you’ll find anywhere.
You can do all of your car shopping online, too, without having to drive anywhere, because we have a virtual car lot – a lot on the internet – instead of a physical one. Because our lot is a virtual one, you can do your car shopping any time of the day or night, as well, 24/7, without having to worry about someone else’s business hours. And there won’t be anyone around to pressure you or try to sell you stuff. You’re in complete control! If any questions come up for you as you’re looking around our virtual lot, just give us a call and ask! Car shopping can’t get any more convenient!
Contact Us Today
Just call us up at 203-583-3388 if you’re wanting to end your lease, lease a different vehicle, assume someone else’s lease, or just have questions for us. We look forward to meeting you!