How to Get Out of a Car Lease in Lakewood CO

Empire Lakewood Nissan – How to Get Out of a Car Lease in Lakewood CO

Empire Lakewood Nissan is a premier Nissan dealership serving Lakewood Denver Littleton Aurora and the surrounding areas. We have an expansive selection of new vehicles, and many of those are leased rather than purchased outright. There are a number of benefits to leasing a car, including a relatively low monthly payment, not being locked in to a particular car for a long period and being able to drive a newer model car on a more consistent basis. Of course, some customers enter a lease, and then something changes so that they no longer want to be bound by the contract. Since we’ve received many questions recently about how to get out of a car lease, we present the most common options here.

Read Your Contract

Whenever a customer asks us how to get out of a car lease in Lakewood, we ask them if they have a termination clause in the contract, and if you’re not sure, you need to read the contract in order to determine that. Many leases do allow for early termination. There will generally be a fee associated with it, and often that fee will be based on the total payments outstanding. There is also the matter of vehicle condition, so you need to consider mileage, tire tread depth, any scratches and so forth. If the car is in good condition and you used the vehicle less than the lease allowed, there is real value there, and that can often make early termination an attractive option for someone who wants to get out of a lease.

Determine If Your Leased Vehicle Has Equity

Speaking of that value, it’s called equity. It’s the reason why at the end of a lease it can be better to purchase the vehicle rather than trade it in. The easiest way to do this is to call the financial institution that provided your lease. Ask them for the buyout price. If that price is less than the market value of the car, you have equity, and you can use that equity to cover fees associated with terminating the lease.

Speak With Your Dealer

Although you acquired your lease through a dealer, the dealer is not the lessor. Nevertheless, there may be ways that your dealer can help. One options would be to roll any fees associated with terminating the current lease into a new lease. That will create what is known as negative equity, and while it is not ideal, it may put you in a better position right now to deal with any financial challenges.

Consider a Pull-Ahead Program

When one of our customers asks how to get out of a car lease in Lakewood, we’ll check to see if they’re eligible for a pull-ahead offer. These are typically lease offers that are made by the automaker or even our dealership prior to a lease contract expiring. These offers can benefit the customer in a number of ways but also benefit the industry. It is, for instance, one of the ways that we try to balance out how many pre-owned vehicles will become available at one time.

Explore a Lease Swap

There are a number of automotive companies that specialize in what are known as lease swaps. It literally means that you are swapping your lease to another driver for his or her lease. This option is popular among people who like to change their vehicles more often than typical leases allows. But it also provides an opportunity for those facing financial hardship to lessen their burden. Before you progress too far, ensure that your lease allows for a swap. Most but not all do.

Get More Help With Your Lease

The good new is that you can figure out how to get out of a car lease if you want to. Empire Lakewood Nissan is the local Nissan dealer serving Lakewood Denver Littleton Aurora and the neighboring communities, and we encourage you to call us or reach out to us via email or text. We’ll consider your situation, explore your options with you and assist in any manner we can. Also serving Denver, Breckenridge, Winter Park, and Evergreen Colorado.

*This opinion-based content is intended for informational purposes only. Contact the dealership for the latest details.

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