Need to end my lease

Asked by Oct 29, 2017 at 12:23 AM

Question type: Car Selling & Trading In

I’m currently leasing my Toyota Corolla. I want to trade it
in for another vehicle (pay cash or finance) but my lease
doesn’t end until 2019. How can I trade in my car/end my
lease early without paying the remaining amount of the
lease payments?

8 Answers

20,995

Thats just it, it is a lease, you did not want to buy it, just take it back.

83,455

Read the lease before taking it back. You may still owe them payments until 2019.

20,995

Otherwise the dealer wants it back by 2019 and you to pay extra if you go over the miles the lease was for and pay for any damage done to it while you had it, so they can re-sale it and make a huge profit. Its in their benefit to get it back early.

20,995

Yea for sure, you could still owe on it, if it has it in the fine print too.

1 of 1 people found this helpful.
262,105

So to summarize, in most cases, the lease papers will specify that you owe till the end of the lease in 2019. In some cases the dealer will buy pay the remaining lease payments off in order to get you into a new car, so they can profit on the lease car and new car they are selling you. Usually that happens with less than 3 months left on the lease. So your stuck with the car in the meantime unless you can get someone to assume the payments till 2019.....http://www.leasetrader.com/car_lease/car-leased-sell.aspx

54,625

You would have to buy out the lease, the dealership may be able to help you do this and make the deal happen. My guess is it is too early in the lease to do a buy out that makes sense. Also as Tom suggested, you could try the lease trader site. Rules regarding disposition of leased vehicles varies with different leases and companies so you may or may not be stuck with it.

15

Tom has some good points, if you want out and get your another car on lease goto dealer see if they can get you into another car w/o adding remaning payments into the next lease. If you like the car and want to buy it it's usually the remaning payments plus the residual. Or get a lease take over by another party, then get another car. There's pleanty of options, just not when your contracted. but there's ways around that to. Good luck.

45

Sites like Swap a Lease could work. You advertise your vehicle for free listing the details of the lease. How many months remaining and the milage remaining per month average. Someone rakes over the lease. Another option is to call your leasing company and ask for a buy out price. 10 day payoff of the buyout amount. Whit this figure you can sell the vehicle and terminate any lease. You can get it detailed for $150 they will clean inside ,outside, engine ,buff out scratches, wax and shine it! Then take 25 photos and list it for the price you owe right here on CarGuru''s for free. Craigslist and Facebook too. Good Luck!

Your Answer

Car Selling & Trading In Experts

  • #1
    F_O_R
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  • #2
    Tom Demyan
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  • #3
    Bob Beaman
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