How to Break a Car Lease

Sometimes life throws you a curve ball and you can no longer fulfill your financial obligations. Whether you can't make the lease payments or you need a bigger car, there are a few ways to break your car lease with the least amount of collateral damage. You may end up paying a little bit, but it will be less painful than keeping the lease and paying it off.

Instructions

1. Terminate the lease. This is the most expensive option by far. Once you bring the car back the dealership, you're responsible for all of the remaining payments plus an early termination fee. This can easily be a few thousand dollars, which you have to pay in one lump sum.

2. Transfer the lease. This way of breaking your car lease costs you quite a bit less than the first option. You need to find someone to take over your payments, however, which can be difficult to do. You'll probably have to pay for a credit application and jump through a few hoops with the dealership to make it happen.

3. Ask for help. Many companies, such as Swapalease, specialize in helping people break their car leases. They can advise you on the proper steps to take and help you find someone to take over your car payments. There are usually fees associated with this type of business, so shop around and ask for references to make sure that the company you're working with has a good reputation.

Resources

• Swapalease lease transfer company