It is often believed that the only option in ending a lease early is a car dealerships’ traditional definition of ‘early lease termination’ in which the lessee is required to pay an early termination penalty plus the balance of the remaining payments.
For example, if the payments are $700.00 per month and 10 months are remaining on the contract, then the lessee owes $7,000.00 ($700.00 X 10 payments) plus any penalty fees.
There are alternatives to paying thousands of dollars in early termination fees by using a Lease Transfer.
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