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Car Lease Buyout Your car loan or lease payment is busting your budget every single month and you just can't take it anymore. You want out. What should you do Start by taking a deep breath. Yes, you've put yourself in a difficult financial situation, but there are ways out. You can undo a bad auto financing decision. But you'll need to tread carefully if you want to minimize the hits to your wallet and your credit rating. Because you don't own the car, you have far fewer options for cutting short a bad lease deal. A lease is really nothing more than long-term rent. You have no asset you can sell. And if you turn the car in early to the leasing company, you'll be on the hook for some serious cash. You may be required to make all the remaining lease payments, even though you're returning the car. Some leasing companies charge an early lease termination fee and disposal fee as well. Leasing companies come up with outrageous formulas to charge people many thousands of dollars. A final option is to transfer your lease to someone else, that means have someone buyout your car lease. Online sites such as TradeAlease.com help leasing customers connect with drivers willing to take over their leases.
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