IS it possible to get out of a Car Lease?

Question

i bought a 2008 BMW and was thinking about getting a more fuel efficient vehicle. Can I get out of my lease?

Answer 1

It is almost always expensive to terminate a lease early and some lease companies don't allow terminations in the first year. Your best bet is to try to find someone to assume your lease but some lease companies don't allow it, and some who do, keep you responsible even after the transfer -- not a good thing. Here's an article that has some more details:

http://www.leaseguide.com/Articles/termi...

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Answer 2

Dealerships usually charge their lessees early termination fee when they get out of the lease before it ends. However, there's a type of lease called Swapalease wherein you can transfer the responsibilities to another owner right in the middle of the contract. You can inquire at your dealership about that. If not, then you just have to bear the consequences.

For more info, you can check these sites:

http://www.carleasingsecrets.com...

http://poddcars.blogspot.com/

http://carmoneylogues.blogspot.com/...

http://cartipsnetwork.blogspot.com/...

Answer 3

chances are no.  but you could try to get someone to take over the payments.

Answer 4

There are a few websites like

http://www.leasetrader.com/

They try to match people up with leases (for a fee).

Also, to make the deal more attractive, you may have to chip in a few months payments but it is cheaper than the surrender alternative.

Answer 5

The only way you can get out of a car lease is if you are in the military and have received orders that takes you away, if you die, or if you now have a long-term disability (not in the contract, but most will let you get out of it).  I'd say look at your contract and cry because you will be stuck with it.

Answer 6

You can always buy out a lease...that is pay the difference between what is owed and the wholesale value of the vehicle. Trust me, you don't want to do that!  Best option is either bite the bullet for awhile or ask the original selling dealer for a down trade.