Maybe you’re moving to the big city and you’ve decided you won’t need your car anymore. Maybe you’re simply tired of driving your current car. Whatever the reason, you want to get out of your current car lease. Only problem is, your lease hasn’t expired yet and you don’t want to wait any longer to get out and move on.

How Can You Get Out of Your Car Lease?

Fortunately, there are options available to the individual who wants to get out of a leased car.  But unfortunately, there’s no ‘magic pill’ to take when it comes to getting out of a lease.  This article will review all the options.  Chances are, one of the possible solutions outlined in this article is best for you – but it all depends on your current situation.  Read on and learn how you can get out of your car lease with:

• Lease trading websites
• A Buyout
• Returning the leased car early
• Allowing a car buyer to negotiate the terms on your behalf and then buy the car from you

Leased Car Trading Websites

In lawyer speak this is called “lease assumption”.  These sites are — you guessed it — places where current lease holders can list their cars, lease details and contact information.  Lease seekers then browse these websites in search of cars and opportunities that match what they were looking for.

But before you go and annul your current car marriage via one of these lease trading sites, there are some major issues to consider.

Does your car leasing company allow transferring the lease?

First and foremost, some car leasing companies prohibit the transferring of car leases altogether!  That may or may not apply to you; so you’ll have to do some homework to find out if trading your leased car is even a viable option.

Finding a lease trade partner can take time

Remember that it could take some time before the right person – who is hopefully local enough to do a deal – finds your car and contacts you about a potential lease trade. If time is an issue, lease trading isn’t the answer.

And what if the individual you trade your lease with defaults?

This is a big one that many in the lease trading world don’t want you to know about. If the person who you trade your lease with defaults on the lease at some point, you’re still responsible! In other words, you carry a great deal of risk even after you’ve traded your lease.    If your lease partner quits making those lease payments, even several months or years down the road (depending on the lease), you’ll wind up in some very hot water.

So say lease trading isn’t for you.  Say you’re looking for an instant exit.  Fear not, as there are still other escape routes to explore.  Like, for instance, the buyout option.

Buyouts

By buying out your leased car, and then selling it yourself, you can effectively avoid things like wear and tear charges and early termination fees.  These features all make the buyout option look pretty darn appealing.  But remember; in many scenarios, the red tape, hefty buyout price offered, and sales taxes can be enough to make this option look quite unappealing too.

If you’re interested in buying your car out and then selling it, be sure you know whether or not the buyout price offered is a good deal.  A reputable car buyer like Big Bucks Auto™ can tell you exactly how much your car is worth with a free car appraisal.  This way, you’ll know if the buyout option really is a good deal, and you’ll have an idea of how much you may be able to then sell the car for.

Turning in the leased car early

With the loads of early termination fees and possible legal ramifications depending on your lease, this may not be much of an ‘option’ to getting out of your leased car.  There will almost certainly be a huge cost involved if you try to turn in your leased car early.  In many cases you will still be obligated to pay the remaining balance on the car lease, or some combination of these payments, along with other penalties, like charges for wear and tear or mileage over the allotted limit.
For most individuals, turning in the car early is simply not an option.

There has to be an easier way!

You could sell your leased car to a used car buyer.  But why?

If you choose an honest and professional car buyer experienced in these types of transactions, this may very well offer the best “bang for the buck”.  And speaking of bucks, Big Bucks Auto™, one of the largest car buyers in the tri-state area, can easily handle these tricky lease scenarios.

If you happen to be in the tri-state, NY, NJ area, you’re in luck as you’re close enough to do business with Big Bucks Auto™. We’ll help you get out of your current car lease, and then we’ll give you the best price possible.  Get a free quote – FAST, by simply filling out a short information form.

At Big Buck$ Auto we’ll contact your lender or lease company to obtain the lowest possible payoff amount on your account.
And even better, we can negotiate to get you the best deal possible. In most cases, Big Bucks Auto™ will provide the bulk of the money required to pay off the lease.  For most, this is the easiest ‘way out’ considering all the alternatives.

Read Why Choose Us to Buy Your Car for a better understanding of what you can expect when dealing with a used car buyer like Big Bucks Auto™.

Learn more about how our free used car appraisal works – call us today at 1-888-44-BUCKS or 1-888-44-8257