Auto Lease Swap - How to Get Out of a Car Lease

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Auto Lease Swap - How to Get Out of a Car Lease

Ready to get out of your auto lease early and trade the car, or swap a lease to another individual? Perhaps you're about to lease a car and want to know your options in case you become a lease buster and have to break your lease early.
You've decided to finance your new car by leasing it, rather than buy it as you figured you could only afford the dream car through leasing. One, two, three years pass by and all of a sudden unexpected financial obligations arise - whether it's a new baby, purchase a new home, going back to school, loss of a job, or simply want to upgrade to the latest model on the market. Whatever your reason may be, anyone can have an unexpected financial obligations beyond the leasing of an auto. So know you have the need to break your auto lease, though you know if you return it to the leasing company you'll be hit with the stiff penalty and additional charges for wear and tear. So what options do you have to be a lease buster and get out of a car lease? Welcome to the concept of auto lease swap - a somewhat new concept to getting out of an auto lease without having to return it to the leasing company.

Learn More on Auto Lease Swap

A good consumer-oriented resource that goes into explicit detail of how to swap a car lease and break a lease early - without penalties, is an industry called They provide a thorough overview of the concept of auto leasing as a financing option, and the details on how to become a lease buster and get out of a car lease early and how and where to trader a car lease, or transfer a car lease (known as swap an auto lease) to other consumers. also offers two free consumer ebooks  , or guides, available to download, save and print an car leasing and how to swap a lease. Great consumer information.

Where to Auto Lease Swap ?

Ok, now the basic concept behind auto lease swap, or trade a car lease, is an individual who is leasing a car and wants to get out of their car lease, can trade or swap the lease to another individual wanting to take over the remainder of the lease agreement for a short-term. There are a few auto lease swap marketplaces online where you can advertise your auto lease; lease busters,, trade a lease, swap a lease and others. These marketplaces attract individuals seeking to take over a short-term car lease. Let's get into this concept of auto lease swap a bit further, but first start with the basics.

Car Leasing

For those new to car leasing, auto leasing is essentially a way of obtaining an automobile for a set period of time. Leasing is not renting and renting is not leasing, nor is it financing. There is a big difference between leasing a vehicle, renting a vehicle and financing a vehicle.
Car leasing is simply a means to pay for your vehicle, whether it’s a Ford truck, Acura Legend, Honda Civic, Jeep, Harley Davidson or Kawasaki motorcycle, etc. It’s also commonly known as “purchase-repurchase” or “buyback”. You get a new or used vehicle for X number of months/years and your return it when your agreement is done. It’s a great deal for you and the dealership. You get to “borrow” the vehicle for a monthly cost and upon return; the car dealer can sell the vehicle for slightly used.

Leasing is an option that lets you pay for the portion of a vehicle you expect to use over a specified term, plus a rent charge, taxes and fees.

Can I Get Out of an Auto Lease Before the Agreement is Expired?

Riding out your auto lease till the end of the agreement is not always the final option. Many people find they can lease a vehicle today, but month’s later personal obligations pop up, which results in you not being able to afford the full lease period. For example, you decide you want to purchase a home, a new born enters the family, relationships split up, going back to school, etc. Anything can happen between the time you sign the lease agreement and the time it expires. So a great alternative is finding someone else to swap or break or bust or take over your lease agreement, otherwise you may end up paying an extremely large penalty for defaulting on your lease. When I first began researching the option of swapping an auto lease, has a great piece of advice in their guide - "before getting into ANY auto lease, check with the lease agreement first to ensure you have the option to break your lease early and allow other consumers to take over the lease. Remember, not all leasing companies will allow consumers to swap a lease. Different states and provinces and leasing companies have different rules. I'll tell you more about breaking or swapping a lease shortly. But first, what happens at the end of your lease?

What Happens at the End of My Lease?

Simply put, at the end of your vehicle lease you drive your vehicle back to the leasing company. Hopefully the vehicle is in normal condition of wear and tear or you’ll end up paying for any damage or extra mileage over and above what you specified in the lease agreement.
Vehicle lease companies sometimes provide the option to purchase the vehicle for a specific price and the end of the lease agreement. This can be an option, but always check first as with some companies, it’s not outlined in the agreement or contract. Alternately you may be able to use the vehicle as a trade-in against a new car if you were to purchase. If buying out the vehicle or trading in the vehicle is not ideal for you, then simply drive your vehicle into the lot at the end of the lease agreement and you can walk away clean free. However, before you simply walk away, ALWAYS check first if you still have any equity value left in the vehicle.
Remember, to ensure you get best value as a consumer, ensure you check each option when returning your vehicle to get out of your lease. The important options and considerations when completing your lease, or breaking your car lease, are…

  •  When returning the vehicle at the end of the lease agreement, ensure your vehicle has normal wear and tear, otherwise any damage you may have to pay the lease company. this can be costly.
  • You may have the option to buy-out the vehicle from the lease company so that you own the vehicle 100%
  • You may have the option to trade-in the leased vehicle against the purchase of a new vehicle
  • When returning your vehicle at the end of the lease, always check for extra equity value.
  • You do have the option to get out of your lease early – such as break your vehicle lease, swap your vehicle lease, bust out of your vehicle lease or trade your vehicle lease to another individual who is seeking to get into a lease deal, but not for the full term. This option is known as a short-term lease assumption and may not be presented to you by the dealer, but is available. 

What is a lease assumption?

Consumers can swap an auto lease contract from one person to another, usually through an online service dedicated to transferring auto leases - ex. Lease assumptions are exercised by the consumer who wants to transfer their car lease to someone else seeking to take over the lease payments – for a few months or for the duration of the lease agreement. Lease assumption is referred to swap-a-lease, bust a lease, break a lease, lease transfer, etc., with a lease assumption the person taking over the lease will assume the rights and responsibilities under the current term of the lease agreement.

Many consumers who leased a car for a set duration can save much money by terminating a lease and assuming someone else to take over the auto lease. This can benefit both the buyer and the seller. Since leasing a vehicle is purchasing only a portion of the vehicle for a set time duration, the slightly higher cost to doing this can be shared by not fulfilling the complete lease agreement yourself, and transfer or swap a lease over to someone else seeking to assume a car lease for the remainder of your lease agreement.
A consumer can assume or take over a short-term lease with no money down. A consumer can save thousands of dollars by taking over a lease which may also include assuming their initial deposit, which results in lowering your monthly payments.
Some people have even been known to make money by taking over a lease through consumers selling a car lease with incentives attached to take over. You may be asking yourself, then why do people get into a lease in the first place? Remember, leasing has it advantages and is best for only some people based on their personal and financial obligations. For example, a consumer may buy a lease while financially secure, but 1 year later the consumer may change their financial goals and want to buy a home. Therefore, rather than riding out the full lease agreement, the consumer may seek to find someone to assume their car lease. Numerous personal and financial situations occur the make selling a lease the best option for a consumer.

Breaking a Lease is Expensive? True or False

Both. Terminating a lease with your dealer can be costly as fees will apply for defaulting early on your lease agreement. However, a very inexpensive alternative to this for lease consumers is to find someone to assume or take over a lease, thus avoiding any high fees. There are a few inexpensive services that help consumers who need to auto lease swap or transfer a lease find bring the buyer and seller together to assume the lease. It’s a win-win for both consumers. I used and found the service effecient and effective to transfer my lease. 
These lease transfer services bring together the buyer and seller of leased cars and vehicles. A lease buyer would simply browse a list of available leased vehicles up for lease transfer by the owner of the leased vehicle. Once a potential lease buyer finds a vehicle they desire to take over the lease, the buyer would then contact the seller and work through a credit application (offered by the lease company). Once authorized and approved, the leasing company would provide the transfer documents to assume the lease transfer. Once complete, the buyer now assumes the car lease and the transaction is complete. 
However, anyone seeking to transfer their lease to another consumer should first check with their finance company to see if they’re allowed to break their lease early. Most lease companies will allow transferring a car lease early, but first check to ensure.

Take Over a Car Lease - Buyer

As a buyer, or someone who wants to take over a lease, is a good opportunity for the individual to get into an almost new vehicle for less than what they would have paid monthly if they initially started a lease from the start. Additionally the consumer taking over the car lease will likely get into the lease for a great price.
Consider this as a consumer wanting to take over a lease transfer – taking over a leased car part way through the lease agreement eliminates any costs they would have realized if they started the lease from the first day. Any upfront dealer fees associated to a new car lease would be eliminated. Essentially the consumer is simply taking over the lease payments each month, up to the end of the lease agreement.
Another cost benefit to taking over a lease transfer is sometimes the consumer may receive an incentive to take over the lease, which could equal 1, 2, 3 or more times the monthly payment. That’s right. You can find people with car leases willing to offer great incentives, sometimes equivalent to months and months of lease payments, just to get our of the car lease and transfer the lease to another person.

Swap an Auto lease - Transfer Your Car Lease - Seller

Now you’ve read some of the benefits for getting into a car lease part way through the lease agreement, but there are also benefits to be had by the consumer wanting to become a lease busters and get out of a car lease.
Swapping a car lease to another consumer can save the lease owner big dollars rather than returning the leased vehicle back to the lease company (or dealership) and having to pay car lease penalties. Almost all leased vehicles – trucks, cars, motorcycles, SUV’s, etc., are transferable. Breaking a lease agreement and returning the vehicle back to the lease company will results in having to pay penalties on your lease which were originally agreed upon when first signing the lease agreement.

How to Get Out of Your Car Lease

For any consumer seeking to swap a lease and trade a lease, the first step is to promote the availability the car is for lease take over (lease assumption). There are various methods to promote the availability of the vehicle.

• WOM – word of mouth
• Local car shows where consumers display their car for purchase or lease
• Newspaper classifieds
• Trade newspaper – ex. Auto trader
• Online – various websites provide the network to bring buyers and sellers together strictly for taking over a car lease. ex.
• More.

One of the best places to auto lease swap and find a car for lease take-over is on the web. There are a few select websites on the Internet (, Lease Busters, Swap a lease, Lease Trader) that bring buyers and sellers together of leased vehicles. These websites provide directories of cars, trucks and other vehicles that are available for lease take over. Typically, these vehicles for lease take over are promoted by consumers seeking to break their lease and transfer their lease.

Searching these online car lease directories provides the consumer who is seeking to assume a lease the ability to search for hundreds, if not thousands, of consumer’s vehicles up for lease transfer. The consumer can easily search by province, state, city, mileage, lease term remaining, cash incentives and more.

How to Take Over a Leased Car?

Taking over a car lease is easy. The consumer seeking to take over the car lease has the advantage as all they’re doing is taking over the remaining monthly payments of the lease. Plus, the consumer may receive a few months worth of lease payments from the consumer seeking to break their lease, as an added incentive to take over the lease.

However, for the consumer seeking to take over the lease be aware of the condition of the car. Remember – buyer be ware. When the consumer returns the leased car at the end of the lease term, the consumer may be subject to pay for any damage to the vehicle, as well as anything else the original lease owner agreed to in the original lease agreement.
It’s always important to review any lease agreement prior to taking over a broken lease.

When assuming a lease agreement from another consumer, keep in mind the following points. There will help you when you negotiate any agreements to transfer the car lease agreement.
1. How much time is left on the lease?
2. How many miles / kilometers remain, and who many will you put on the vehicle?
3. Is there a down payment or cash incentive?
4. Will the consumer seeking to break their lease pay to take over the car lease, or is there a down payment?
5. Who will pay the lease transfer costs?
6. Are there any special requirements, such as a security deposit?
7. Review the car lease contract
8. Check to ensure all service requirements are updated. Ex. Has he consumer kept the vehicle maintained?
9. Who will pay the vehicle inspections, lease transfer fees, license transfers and any other charges and fees?
10. Is there a security deposit that must be paid, or is the existing security deposit being transferred to the consumer taking over the lease?
11. A credit application will likely be required to be completed and submitted to the original dealership who sold the lease. Alternatively the credit application may be sent to the leasing company for credit approval.
12. Who will process all necessary paperwork and make arrangements to finalize the lease transfer?
So as you can see, there are many questions you need to consider before getting out of a car lease and taking over an auto lease. the decision is yours, but always remember to first check with the leasing company and your province/state laws if you have the option to auto lease swap.


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