How to Break a Car Lease

How to Break a Car Lease

How to Break a Car Lease. Get out of your lease without getting socked
with hefty termination fees and penalties. You will need A computer with internet access
A car lease contract and negotiation skills. Step 1. Visit lease trading web sites that will post
an ad for your car and facilitate transactions at a fee that’s less than termination penalties. Some financial service companies won’t allow
lease trading. Read your lease contract for such clauses. Step 2. Negotiate with the finance company for an
early termination settlement without penalties. Step 3. Negotiate with your dealer for early termination
in exchange for buying or leasing another vehicle from the same dealer. If you opt for a lease rollover, you may still
be liable for old lease payments plus your new lease payments. Step 4. Check state law for car lease lemon laws. If you can prove with credible documentation
you leased a lemon, you may be able to get out of your lease early without penalties
and with reimbursement. Step 5. Buy the car before the end of the lease and
then sell it. Find your car’s market value on the internet. Step 6. Request that the lessor repossess your vehicle. While voluntary repossession can save you
money in early termination fees and penalties, it will negatively affect your credit. Did you know It’s harder to get credit approval
to lease a vehicle than to buy a vehicle.

About the Author: Michael Flood


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