Can You Turn a Lease in Early?

Have you ever asked the question, “Can I return my lease early?” If so, you’re in the right place. Yes, you can turn a lease in early. Even if you financed your lease through another dealership in Englewood, Land Rover Englewood could help you return it early. Contact us to get the process started. We’re here for all of your car financing needs around Jersey City.

Early Lease Return Details

If you return your leased Land Rover vehicle more than 30 days before the maturity date of the lease, you will likely need to pay an early termination fee. The amount of the charge is calculated in one of two ways, and you must pay the lesser of the two amounts:

• We’ll deduct the price we receive for the vehicle when we sell it wholesale, minus any sales-related expenses, from the lease balance when you turn in the car early.
• We’ll add up the sum of your remaining monthly payments due on the lease plus your end-of-term liability (fees). This includes any disposition fee and charges for excess wear and any mileage over the limits.

If applicable, you will still have to pay for any past due payments, unpaid late fees, and taxes. If your state includes personal property tax on the vehicle, you’ll also be responsible for paying any future tax bills for periods that occurred before you returned the car. Your lease-end final bill will probably come within 60-90 days. But, because of the pandemic, delivery of your lease-end bill may take longer.

Lease-End Paperwork

Please use Land Rover’s lease-end checklist and complete the lease turn-in form within one business day of returning your leased Land Rover to ensure that we have the correct information to calculate your final lease-end bill. You will also need to fill out an odometer form certifying the miles.

Getting Out of a Lease Early: Buyouts vs. Takeovers

You have several options when you end a lease, and the finance experts at Land Rover Englewood are pleased to walk you through them so you can choose the best option for you. You could decide to do a lease buyout, which means that you’ll purchase the vehicle, or maybe do a lease takeover—where you find another driver to assume your lease contract.

Trust Land Rover Englewood With all Of Your Land Rover Finance Questions

Now that you know the answer to the question, “Can I return my lease early?” contact us with any questions about lease returns or financing a new Land Rover. Our finance team is conveniently located near Fort Lee and New York City and are happy to answer your questions. Reach out to us today!