Yes, you can often get out of a car lease if you move, but it's not an automatic process and typically involves specific options, each with potential costs. The most straightforward path is a lease transfer or lease assumption, where another qualified person takes over your lease payments. Alternatively, some manufacturers may offer a relocation clause in the lease contract, though these are rare. Buying out the lease and then selling the car yourself is another option, but it requires significant upfront cash. The worst financial choice is usually an early termination, which can trigger hefty penalties equal to most of your remaining payments.
Your first step should be to review your lease agreement carefully. Look for sections titled "Early Termination," "Default," or "Lease Assumption." The specific terms, including the early termination fee and the procedures for a transfer, are legally binding. Contacting your leasing company directly is essential. Inform them of your move and ask about their specific policies. Some major lenders, like Ally Financial or Chase Auto, have online portals where you can calculate an early buyout quote.
The feasibility often depends on your car's current market value compared to its lease payoff amount. If the market value is higher than the payoff, you might break even or even make a small profit by buying and selling it. If the payoff is much higher (you're "upside-down"), you'll have to cover the difference out-of-pocket.
| Option | How It Works | Potential Cost/Consideration |
|---|
| Lease Transfer/Assumption | A credit-approved individual takes over the lease. | Transfer fee ($100-$500); you are usually released from liability once the new lessee is approved. |
| Early Buyout | You purchase the car from the leasing company and then sell it. | Requires cash for the payoff amount; potential for profit or loss based on market value. |
| Early Termination | You return the car to the leasing company before the term ends. | Very expensive; costs often include remaining payments minus "unearned" interest and a disposal fee. |
| Relocation Clause | A contract provision that waives fees for a move beyond a certain distance. | Extremely rare; typically requires proof of military orders or an international move. |
Ultimately, a lease transfer is generally the most cost-effective solution if you can find a qualified candidate through services like LeaseTrader or Swapalease.
