Early Lease Termination.

In plain English

Early lease termination means giving the car back or ending the contract before the agreed term is up. Because a lease is a fixed commitment, ending it early is expensive: you can owe an early-termination charge, the remaining payments, and the gap between the car's current value and what the lease still expects. The exact math is set by your contract, and it is often the most costly way to get out of a vehicle. If you need out, your first constructive step is to read your lease's early-termination section and call the leasing company to get the payoff in writing, then compare it against alternatives.

01Why it matters

Walking away from a lease early can cost thousands, and the bill can feel like it comes out of nowhere if you have not seen the contract math. Knowing your options before you act keeps a tight situation from becoming a credit-damaging one.

02The math, step by step

You end a 36-month lease after 18 months. The leasing company adds up the remaining payments, the difference between the car's value and the lease balance, plus an early-termination fee. The total can run to several thousand dollars, far more than a single monthly payment, with the exact figure set by your own contract. A lease transfer or buyout-and-sell may cost less, so it is worth pricing both.

03What this is NOT

04Receipts

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