What is the Timeframe to Return a Leased Car?

 
If you’re thinking about leasing a vehicle for the first time, you’re likely also wondering about the timeframe to return a leased car. Most new car leases last two or three years, but your leasing company will typically contact you around 30 to 90 days before the actual lease-end date to start preparing for the lease return process.
 

What happens if you lease a car and realize it’s not a good fit for your New Philadelphia commute? Can you end your lease early? Generally, you can return a leased car early, but there will be a fee to pay. Read on to learn more with Parkway Honda. 

Can You Return a Leased Car Within 30 Days?

Whether the question is “Can you return a lease after 1 day?” or “Can you return a leased car within 30 days?”, the answer is often a tentative yes — with some significant caveats. Attempting to cancel a car lease within 30 days of starting the lease is generally unwise because it would be an early termination, which is often associated with a hefty fee. 

Depending on the leasing company, an early termination fee might include the totality of all remaining lease payments, the difference between the current lease balance and the projected lease-end value, or other fees. This means that the earlier you terminate a lease, the more you’ll be required to pay. So if you’re wondering, “Can I return a leased car within 3 days of signing?”, you should know that you’d potentially end up paying for the entire lease anyway, but you wouldn’t get to drive the car.

What to Ask Before Ending a Car Lease Early

Most Uhrichsville drivers who are thinking of ending their car lease early are more than just a few days into the lease. If you only have one year or less left on the lease and you don’t need a vehicle anymore or it’s just not a good fit for your lifestyle, the early termination fee probably wouldn’t be as severe as if you were only a few days into the lease. Here are three key factors to consider before ending your car lease early: 

• Why do you want to end the lease early? If you hate the color of the car or wish you would have gotten the leather interior, it doesn’t quite justify the large fee you could pay for ending your lease early. If you’re moving far away or you just can’t make the vehicle work for your family, the early termination fee may be worth it to you.

• How large of a fee would you pay? Depending on just how early you want to terminate the lease, you could end up paying several thousand dollars or more. 

• What are the leasing company’s policies? You should ask your leasing company about their early termination policy. They can tell you more about the associated fees, and if you’re really in a tough position, they may be able to work with you on a more favorable solution.

Learn More About Leasing at Parkway Honda

Whether you ultimately decide to lease or buy your next vehicle, we want you to feel confident in your decision. If you have any additional questions about leasing before you sign the dotted line, please contact us or drop by our dealership near Coshocton. Our leasing and financing staff are ready to help!