Return a rental car prior to the end of the lease

When you sign a car rental contract, you agree to make the scheduled payment set until the end of the term. If you cannot continue to make the car payment until the lease ends, you have a number of options to terminate the contract soon. The cost of termination depends on the option you choose. Whatever your decision, make sure the car is clean and well-preserved when you return it to the dealer to avoid additional charges.

Ending soon
Your first choice is to return the car to the dealer before the end of the lease and request termination of the contract soon. The cost of choosing this option depends on the terms of your lease. It can be your most expensive choice because of the high premature termination fee. Some agents will also charge you for payments that remain in the lease.

When you sign a car rental contract, you agree to make the scheduled payment set until the end of the term. If you cannot continue to make the car payment until the lease ends, you have a number of options to terminate the contract soon. The cost of termination depends on the option you choose. Whatever your decision, make sure the car is clean and well-preserved when you return it to the dealer to avoid additional charges.

Transactions in
The purchase of a new car is also more expensive than completing the lease, but gives you a way to recover some costs while still having a car to drive. You must make a new contract with the same dealer to qualify for the initial lease termination. Early termination fees and fines move to the new lease, so your monthly payments may be higher before the exchange. This spreads your fees over the entire term of the lease to make it easier for you to pay.

When you sign a car rental contract, you agree to make the scheduled payment set until the end of the term. If you cannot continue to make the car payment until the lease ends, you have a number of options to terminate the contract soon. The cost of termination depends on the option you choose. Whatever your decision, make sure the car is clean and well-preserved when you return it to the dealer to avoid additional charges.

Buy and sell locally
If you can find another dealer ready to buy a car, you can sell it and pay the purchase terms on your original lease. Negotiate with the second dealer as if you had bought the car completely. You will be looking for a sale price at least equal to the purchase amount. This may not be possible if your purchase is too high or the value of the car is low. Shop around several dealers to get the best deal possible.

When you sign a car rental contract, you agree to make the scheduled payment set until the end of the term. If you cannot continue to make the car payment until the lease ends, you have a number of options to terminate the contract soon. The cost of termination depends on the option you choose. Whatever your decision, make sure the car is clean and well-preserved when you return it to the dealer to avoid additional charges.

Alternative options
Instead of returning the car, you can talk to the dealer and negotiate the lower payments for your current lease. This may require renewal of the lease term in exchange for reduced payments. You can also transfer your lease to someone else if you can’t figure out how to save to return the car to the dealer. However, you may have trouble finding a ready buyer if the terms in your lease are unfavorable or the value of the vehicle has dropped dramatically. You’ll also remain responsible if the new owner defaults to your payments.

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