How do I Cancel a Leased Cadillac Escalade?

Read your lease agreement to determine cancelation options.

Leasing a Cadillac Escalade is a completely different process than purchasing one. The lease agreement covers a set period of time, such as three or four years. At the end of the lease term, you have the option of buying or returning the car. However, if you cannot make the payments or you decide you no longer want the car before the lease period ends, canceling the lease can be quite expensive.

Things You'll Need

• Original Lease

Instructions

Transfer Lease

1. Transfer the lease into someone else's name. This is the easiest and least expensive way to cancel the lease on a Cadillac Escalade. Expect to pay lease transfer fees, but fees to end the lease may not be applicable. Check your agreement to determine if transfers are allowed and to calculate the fees.

2. Look for someone to take over the lease. Find someone through a lease-swapping website if you do not know someone personally. Use an online lease-swap company or visit the dealer for help in switching the lease to a new owner's name.

3. Find two or three people who are interested in transferring the lease because the person must meet the same leasing qualifications, such as credit and income requirements. This will ensure a speedy lease transfer, especially if you are in a bind and need out of it as soon as possible.

Return Vehicle

1. Return the Cadillac Escalade and pay the remainder of the lease.

2. Read your agreement to determine the penalty for ending the lease early. Some companies may charge less than the entire lease amount, but usually not much less.

3. Expect to pay a substantial amount of money, especially if there is still a lot of time left on the lease.

Additional Options

1. Review your lease agreement for additional ways of canceling your Cadillac Escalade lease. While ending the lease early or transferring it into someone else's name are the two main options, additional methods may be available through the lease company.

2. Inquire about any options for ending the lease early that are not included in your lease agreement. Some companies may have programs for people who can no longer afford the payment because of illness or unemployment.

3. Ask about the amount of time you have to back out of the lease. Some lease companies may have a cooling-off period of few days, weeks or months during which you can cancel the lease without penalty.

References

• Lease Guide: Get Out of Car Lease?
• Swap a Lease: Exit Your Lease
• Lease Guide: Lease vs Buy?