Car Leasing 201 - Car Lease Assumption: Breaking a Car Lease

Breaking a Lease is Expensive? True or False

Both. Terminating a lease with your dealer can be costly as fees will apply for defaulting early on your lease agreement. However, a very inexpensive alternative to this for lease consumers is to find someone to assume or take over their lease, thus avoiding any high fees. There are a few inexpensive services that help consumers who need to swap a lease (sponsor) or transfer a lease (define: auto lease transfer) who bring the buyer and seller together to assume the lease - such as AutoLeaseBreakers.com (sponsor). It’s a win-win for both consumers.

These lease transfer services bring together the buyer and seller of leased cars and vehicles. A lease buyer would simply browse a list of available leased vehicles up for lease transfer by the owner of the leased vehicle. Once a potential lease buyer finds a vehicle they desire to take over the lease, the buyer would then contact the seller and work through a credit application (offered by the lease company). Once authorized and approved, the leasing company would provide the transfer documents to assume the lease transfer. Once complete, the buyer now assumes the car lease and the transaction is complete.

However, anyone seeking to transfer their lease to another consumer should first check with their finance company to see if they’re allowed to break their lease early. Most lease companies will allow transferring a car lease early, but first check to ensure.

Part V: Car Lease Transfer Options