Things to Remember When Exiting Your Lease
Things to Remember When Exiting Your Lease

Things to Remember When Exiting Your Lease

The Car Lease contract you signed has a termination clause in it. That will likely tell you what fees you must pay for early termination. Then tally the total amount of lease payments owed. Once you determine those figures, carefully inspect your car. Note every scrape, dent, scratch and stain. Don’t forget to check the tire condition and tread depth, too. What you may consider normal wear and tear might not pass muster when you return the car. Of course, check your mileage. If it’s on the low end, you could spend less to terminate the lease because the car will likely be worth more.

Yes, lease agreements are held by finance companies, not dealerships. Still, a dealership may allow you to lease another car if you roll the current fees and penalties from the current lease into your new one. Doing so will result in negative equity, just as if you rolled a loan for a car purchase into a new loan.

Some dealers and manufacturers offer new leases before a prior contract expires. These programs may benefit dealers and manufacturers in several ways. Perhaps the leased car you drive is popular, and the dealerships’ used-car manager wants more on the lot. Or perhaps an auto manufacturer wants to ensure a glut of frequently leased cars doesn’t hit the marketplace at the same time, so it creates such a program. If you’re tempted to explore such a program, analyze it carefully, just as you would if you chose to turn the car in early without such a program.

There are an array of sites that allow lease owners to “swap” cars. Such a deal is especially attractive to those who want short-term leases or those who enjoy frequently changing cars. Before you move ahead, check with the finance company and the dealership from which you leased. You want to ensure such a swap is allowed (it probably is) and what administrative costs you may need to pay. Remember that you may also pay a fee to the company that facilitates the swap. You will also want to double-check your obligation for the car after the lease. Some finance companies require the original leaseholder to maintain “post-lease liability.” When you do find a prospect to assume your lease, the finance company will most certainly want to check their credit and finances before allowing the swap. One other possible expense: If you have a car that is not popular or is available at low prices, you may need to offer a cash incentive to entice someone to “swap” your lease.

At The Vantage Auto Group, we save you time, money and peace of mind when it come to Buying your New Car!

No need to deal with the headaches of sitting in a dealership for hours on end and haggling with pushy sales reps.  With our robust dealer network, we’re able to get wholesale pricing and guarantee the most competitive lease or purchase price on any new vehicle. We handle all makes and models, so you can be confident that we’ll find the perfect vehicle that fits your needs.

There are many places to lease or purchase your next vehicle.  The products are the same regardless of the source. So it’s the people who make the difference. Our staff is passionate about what we do. We are all car enthusiasts and understand your excitement about finding the right vehicle at the best possible terms. Along with our enthusiasm is our commitment to be transparent about your lease / purchase and our pledge that all dealings with us be fair, and yes, even fun!

Get Started Today With Your Personalized Car Quote from Vantage Auto Group!

Good credit, Bad Credit, or looking to get an approval, CONTACT US Today!  We work directly with multiple lenders to find the lowest possible lease rate on a new car lease. Come banks will even help us offer short term lease as short as 12 months if not ready to commit to a 2 or 3 year lease. We can even help you get out of your current car with our swapalease lease transfer program. when using our swapalease program, you will no longer be responsible for your current car.

Price Reflects TIER 1 Credit Approval. Prices are for new lease vehicles only. Images are for Display purposes only. Price Excludes local taxes, acquisition fee & DMV/title. Pricing, lease term, and miles per year may vary. All Incentives are Applied For Qualified Customers including Loyalty Rebate, Conquest Rebate, VPP Rebates, College Graduation Rebates, and Regional Rebates.

No need to deal with the headaches of sitting in a dealership for hours on end and haggling with pushy sales reps.  With our robust dealer network, we’re able to get wholesale pricing and guarantee the most competitive lease or purchase price on any new vehicle. We handle all makes and models, so you can be confident that we’ll find the perfect vehicle that fits your needs.

There are many places to lease or purchase your next vehicle.  The products are the same regardless of the source. So it’s the people who make the difference. Our staff is passionate about what we do. We are all car enthusiasts and understand your excitement about finding the right vehicle at the best possible terms. Along with our enthusiasm is our commitment to be transparent about your lease / purchase and our pledge that all dealings with us be fair, and yes, even fun!

 

At Vantage Auto Group, we save you time, money and peace of mind! No need to deal with the headaches of sitting in a dealership for hours on end and haggling with pushy sales reps. With our robust dealer network, we’re able to get wholesale pricing and guarantee the most competitive lease or purchase price on any new vehicle.
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