HOW TO: Get Out Of An Auto Lease
Posted on July 16, 2007
So you have leased the car you always wanted and life is good. Then you change jobs and your daily commute increases by 50 miles a day roundtrip. Making this commute over the next three years will cause you to blow your mileage limit on your lease out of the sky. This is a situation many people find themselves in and have no way of getting out of the leased car contract. Many people will argue the person should have not leased the car in the first place and should have purchased a car within their means, but that is a discussion for another post. The lease is in place and needs to be broken. Luckily there are a number of websites out there that can help you out:
- LeaseTrader.com. Match individuals who are attempting to get out of a lease with individuals that are looking to enter into a short term lease with no money down. Costs for sellers include $80 listing fee and $150-$200 brokerage fee. Costs for buyers include $40 membership (includes credit check), $150-$250 brokerage fee, and an optional $199 out of state inspection.
- SwapALease.com. Also matches buyers with sellers just as the above company does. On its website it claims over $500 million successful auto transfers to date. Costs for sellers include $50 listing fee plus $95 when match is found. Costs for buyers include $35 membership (good for 45 days), and an optional $99 out of state inspection.
- LeasedWheels.com. The smallest of the three companies this one is worth taking a look at. Costs for sellers include a $14.95 registration fee and costs for buyers include a $9.95 registration fee.
Of course you could always attempt to find someone you know to transfer the lease to but that may be difficult. Take a look and do your homework with these three companies.
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[…] provides some advice on how to get out of an auto lease. My advice is to avoid getting into an auto lease in the first […]
[…] provides some advice on how to get out of an auto lease. My advice is to avoid getting into an auto lease in the first […]
There’s also http://www.easyrelease.com for drivers to get out of a lease early and for others to take over a car lease transfer. It’s a totally free service, free to list and free to contact the sellers.
http://www.easyrelease.com
I was deterred from posting to sites that were looking to gouge me for being in the unenviable and vulnerable position of getting out of my lease. Thank god for http://www.leasedwheels.com I listed for $14.95, added a frontpage and newsletter upgrade for an additional $4.95 and was out of my lease in less than two weeks for less than $20.00. The service was great too. William and David answered all my emails in a quick and timely fashion. Think of this site as the discount brokers of the lease transfer industry.