Getting Out of Your Lease For Cheap

header_lWhen we buy or lease a new car, there is always a little bit of stress in the air.  This means a new bill will be added to the collection each month, and that we have a new responsibility to care of and maintain.  Although that may be stressful, leasing a car and then needing to break out of the lease is even more stressful.  We all hear how expensive it is to break out of a lease, and hear about how tricky the process is. 

If you’re looking to get out of your lease the cheap and easy way, be sure to consider a few of these tips for help!

  • Let someone else cover your lease – If you no longer want to lease your vehicle, it is simple.  Set up an ad on a website like Craigslist.  Once you do, set up a description, write out the situation, and write out any details they need to know.  You can easily let someone else cover your lease. 

What are the perks for them? – Usually when you lease a vehicle, you need to put down a down payment.  Once you do, they no longer have to.  Now, all they need is to pay the monthly payment.  Also, they can buy the car if they want when the lease expires.

Although there will be a few fees to make the transfer possible, it won’t be all that costly.  All you need to do is go to LeaseTrader.com and fill out all the information you need to.  This is a fast, and easy way to get this situation off your hands, and into the hands of someone else.  If you think you’ve found a good candidate, stick with them.  Just be sure to ask yourself a few of these questions when you think you’ve found someone. 

  • Will you be responsible for anything after the transfer?
  • Does the person who wants to assume your lease have good credit?
  • Does your current lease company allow the transfer?

Transferring a lease isn’t hard, you just need to find the right people.  Tell anyone you know you’re getting rid of your lease and ask them if they want it, or if anyone they know wants it.  Just make sure they are reliable people, and won’t be more trouble than good.

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