Latest Industry News
July 15, 2021
Posted by Chloe Taylor

Exit Your Lease Early

It is no brainer that many find themselves in this awkward situation. Irrespective of how much the thought has lingered, many still don’t know how to go about it. You’d see people confide in their loved ones about it, and just when they decide to move, they become easily dissuaded by the penalty associated with early lease termination. If you find yourself in such a scenario, then relax and calm your nerves down. You want to exit a lease early? But how can you terminate your lease deal early without losing some good bucks? So simple!

It’s no secret that getting out of a car lease contract early comes with severe penalties. Those who know the in and out of car leasing deals can exit a lease deal early without incurring penalties. Dealership mostly helps those that are totally clueless or skeptical about it but confided in them. Below are the well-known reasons for early lease termination; if your reason is not stated below, it is best to tender such a case to your dealership. Leasing with a nifty dealership like VIP Auto, you need not worry about the tons of penalties and stress associated with terminating a lease contract early.

The Common Reasons For An Early Lease Exit

Ending a lease contract ahead of time is not always a great idea. However, people end their lease deal for many reasons including,

  • Change in circumstances
  • Relocation to a new environment (a new city)
  • Inability to meet up monthly payments
  • Need for an upgrade
  • Growth

Ways To Avoid Early Termination Penalties

Using Your Equity

One of the easiest ways you can end your lease deal early is by using your equity—if there’s any. Your car equity is simply the subtraction of the residual or buyout amount of the car from the car’s actual value. If the residual amount is low and the car value is high, then you’re in great luck.

With your equity, you can just hand over the keys, pick a new car if you want, without any further financial obligations. Of course, staying on the same brand will make trading in your auto lease early much easier. However, regardless of the brand, you can exit a lease early with great equity.

SUVs are in high demand now. Sedans from brands like Mercedes, Audi, BMW, and other luxury cars all have great value. Higher brands like Maserati, Rolls Royce, Bentley, Lamborghini are all desirable cars with great value. The desirability and popularity of these brands make it easier to trade them for a newer car.

Buy And Sell Later

You can also avoid heavy penalties for ending a lease early by a buyout. Most lease contracts offered by top dealers like VIP Auto allow you to buy the car outrightly—with a buyout price. If you can’t afford to purchase the car outrightly, you can turn to any auto refinancing lender that offers lease buyouts.

Swap Your Lease

Lease transfer or lease swap is another easy and cost-effective way of exiting a lease. Some lease contracts allow you to transfer the remaining of your lease duration to another party. The new party or lessee can be your family member, your friend, or a total stranger. You can use any of the online lease swap sites to find a potential new lessee.

To make your lease transfer easier, always offer the best “deal” to any potential new lessee. Swapping luxury cars like Land Rover, Alfa Romeo, Buick, Lexus, and others is much easier and faster. The same thing applies to SUVs like Lincolns, Cadillacs. Other unique cars like Porsche, Lamborghini, Bentley, Rolls Royce are not left out.  

Making The Difference

If you are passing through the dilemma of how to terminate early, end early, buy out, exit early, can’t afford, switch, equity, passed away, all these reasons, no matter how early you want out, VIP Auto lease can get you out early with little to no penalties. We are VIP Auto. We can help you avoid early termination fees. You don’t have to wait till the end of the lease term before going for that change. VIP Auto offers the most rewarding lease deals and exceptional leasing service in New York and the Tri-state area. Visit us today at 1204 Hylan Blvd, Staten Island, NY 10305 and select your new car today from our extensive inventory of cars.

VIP Auto Lease
The Best Lease Deals in NY, NJ, & CT, Guaranteed.

* Lease prices may reflect conquest, rebates, one pay or loyalty incentives.
   Please inquire for more information. VIP Auto Group is not franchised dealer.
* Zero down leases are subject to state taxes, bank fees, title fees, first month   
  payments and registration fees.
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VIP Auto Lease is a full service car leasing company that puts the power of buying a new car in the customer’s hands. Since opening our doors in 2007, we’ve made sure that our promise stays true: no pushy salespeople, no haggling, and a guarantee that to our dear customers that we will provide the lowest possible price with industry class service. We offer nationwide delivery and 100% virtual or in-person ordering (your choice). We are frequented by residents of the greater Tri-State (NY, NJ & CT) area as well as Nassau & Suffolk county Long Island. We service all of New York City including Brooklyn, Queens, Bronx, Manhattan & Staten Island, NY. So Wherever and whoever you are, feel free to take advantage of our guaranteed best prices on ANY make & model now.

Review From Ashley Smith: This was my first experience using a leasing company. In the past, I leased my cars directly through the dealership and always felt that I didn’t receive a fair price. I had such a pleasant experience with VIP Auto Lease from the first time I called to when my car was delivered. Michael Jeffries was a pleasure to work with. He was very responsive and able to get me a great deal. He made the leasing process smooth and easy. I was so impressed there were no hidden fees and that the car was delivered right to my house! I will definitely use VIP Auto Lease again in the future! Thank you again!

Aggragate Rating 4.9/5 Out Of 899 Reviews

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Mon - Thu/ 10:00AM - 7:00PM
Friday  10:00AM - 5:00PM
Saturday / Closed
Sunday / Closed
1204 Hylan Blvd,
Staten Island, NY 10305
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© 2021- All Rights Reserved, VIP Auto Lease and brands are the property of their respective owners.
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