How to Turn in a Leased Vehicle Before the Term of the Lease

You have several options for returning a lease early. You might choose to terminate your contract and pay any remaining payments and a termination fee. If you plan to purchase a new car of the same make using the same leasing bank, you might find you can end your lease up to one year early without penalty. Banks differ on termination costs and new lease incentives. Discuss the termination with your bank and explore any lease termination options and costs before determining your best option.

Instructions

Turning in Your Leased Vehicle

1

Contact your leasing bank and ask how much you'll have to pay to terminate your lease contract. Provide you exact odometer mileage to receive your termination amount. Determine where to send your payment and where to return your vehicle.

2

Wait to receive your lease-end paperwork. Ask to have it emailed if possible. Complete your lease-end paperwork and call your lease-return dealer to make an appointment.

3

Arrive to your appointment with your lease-end paperwork. Sign any additional paperwork the dealer provides and retain a copy of any paperwork you sign to keep for your records. Pay your termination fees directly to the bank, not to the dealer.

Turning in a Leased Vehicle Toward Another Purchase

4

Contact your leasing bank to find out if you can return your lease early if you lease or purchase from the same bank again. If your bank offers offers this incentive, call a dealership and make an appointment to shop and return your vehicle.

5

Bring any items the dealer requests and choose another vehicle. Your salesperson will confirm your lease-end incentive availability. Apply to the same bank for your new lease or purchase.

6

Complete your new finance or lease contract with the dealer. Complete the lease return forms that the dealer provides and ask for copies to keep for your records. Leave your old car behind.