When your lease is up, you can fully turn in the keys and lease another car or buy a new one. But how about getting out before the sublease ends' Maybe you can't pay the sky-high payments on that silky Jaguar JX V6 model anymore or you've just had a child and you need a larger and more spacious vehicle. Sadly getting out of a lease is not as simple as getting in!
A leasing agreement is hard and costly to put an end to early. Merely turning in the keys and walking away from a sublease can result in firm penalties. Your credit could be ruined and you could even get sued for breach of contract.
It's not all doom and gloominess though. Actually, there is a bunch of options handy to you.You can exchange the car
yourself and pay off the bank. This can be cost effective if the exchange value of the car is close to the buy-out number. Do not delay to exercise this choice even at a loss if it happens to be lower than the termination fee. Your best option, though, is to transfer your sublease for someone who would assume it and take it off your hands. There is a entire set of possible buyers waiting for short-term leases without all the upset and additional costs. Check with relatives and friends or use the services of lease-assumption websites, like swapalease.com, to list your car. Make sure you look at the credit value of the new lessee and provide the car in good shape.
| 
