How To Get Out of Your Car Lease the Cheap and Easy Way

Edmunds.comEdmunds.com Member, Administrator, Moderator Posts: 10,237
edited August 2015 in General
imageHow To Get Out of Your Car Lease the Cheap and Easy Way

Get out of your car lease early by finding someone to assume the rest of your payments. Lease-trading sites can help.

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Comments

  • darkblue17darkblue17 Member Posts: 0
    This is a very good article for those who want to get out of an Auto leasing
  • dborlando1dborlando1 Member Posts: 1
    Great article about a new way of leasing. From my experience, I agree with this research, including how surprising it is that the dealerships I dealt with were not aware of Swapalease (that might be because I'm in Florida and I think their based out of Cincinnati, OH.

    2 days ago, I listed my 2011 BMW X5 through Swapalease. My total out-of-pocket cost to advertise with them was $400 for 3 months.

    I should point-out that, in general, BMW does NOT allow a lease to be assumed (taken over) in the LAST 3 MONTHS of the lease term. So if you're considering getting out of your lease, then be sure to plan your advertising period accordingly.
  • swapaleaseswapalease Cincinnati, OhMember Posts: 9
    We wanted to clarify a typo in the article above; BMW does NOT have post transfer liability for the original lessee. A BMW lease will transfer completely with zero responsibility for the original lessee when the lease has been assumed. BMW does not allow for a transfer in the last 6 months of the lease but on occasion we have seen lessees allowed extensions when they have called BMW Financial Services directly and asked for permission.
  • kyfdxkyfdx Moderator Posts: 210,414

    We wanted to clarify a typo in the article above; BMW does NOT have post transfer liability for the original lessee. A BMW lease will transfer completely with zero responsibility for the original lessee when the lease has been assumed. BMW does not allow for a transfer in the last 6 months of the lease but on occasion we have seen lessees allowed extensions when they have called BMW Financial Services directly and asked for permission.

    That's true.. I've transferred BMW leases, and no liability..

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  • ronfitzronfitz Member Posts: 1
    i took an ad in swapalease about 40 days ago on my 2013 bmw lease. salesman told me it would fly off the shelf. i have not had one call or email and i shelled out $500!!! I understand there are no guarantees but not one call. I've asked for a refund but no dice. This sucks
  • leasedriverleasedriver Member Posts: 2
    Yes, BMW does not leave the original leaseholder liable. Transfers can not happen in the last 6 months.
  • leasedriverleasedriver Member Posts: 2
    ronfitz said:

    i took an ad in swapalease about 40 days ago on my 2013 bmw lease. salesman told me it would fly off the shelf. i have not had one call or email and i shelled out $500!!! I understand there are no guarantees but not one call. I've asked for a refund but no dice. This sucks

    Regardless of what website you list it on their are many factors that come into play. Good luck!
  • ali_masterali_master Member Posts: 1
    hi, can someone confirm if honda in California state needs post transfer liability? thanks
  • kyfdxkyfdx Moderator Posts: 210,414

    hi, can someone confirm if honda in California state needs post transfer liability? thanks

    I've always heard that Honda Finance does not allow lease transfers.

    That might be old information, though.

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  • catsenergynycatsenergyny Member Posts: 1
    edited August 2016
    can we update for 2016. Does anyone know if Infiniti has changed since the original article. Does it still have post transfer liability? (question specific to NY)
  • craistylcraistyl Member Posts: 1
    I'm trying to get out of a Honda lease by transferring it. 2 more years on it but I hear they do not do lease transfers. Just my bad luck and I suppose I deserve it for not reading the fine print.
  • isellhondasisellhondas Issaquah WashingtonMember Posts: 20,338
    There is no easy way to get out of a lease! As I understand it, most do not allow lease transfers for a number of reasons. As a lessor, you are responsible for the remaining lease payments. If a large down payment was made you may be able to exit your lease without a lot of pain and expense.

    Be VERY careful with companies that promote exiting leases early! Make SURE they disclose all of the expenses to you!
  • reddyred08reddyred08 Member Posts: 1
    Great article but needs to be updated as the companies mentioned in this article have changed their pricing and procedures and have gotten a lot more costly then when this article was written. Their are also a few new companies out their that provide a much better bang for your buck and should be mentioned. I personally have been using Fliplease.com they got me out of my last two leases I was using swaplease before and still like them but theyre very pricey now not worth it.
  • Marcus_Welby_MDMarcus_Welby_MD Member Posts: 1
    edited March 2019
    GM Financial are big crooks. They won't do a transfer unless you're in the same state. Yet they do this every day when an existing customer moves to another state. It's restraint of trade and a callous disregard for existing and potential new customers.
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