The same, shiny new vehicle you loved at lease signing might not be the right fit anymore. Whatever the reason, you need to learn how to get out of a car lease early—and fortunately, you have a few options. Unfortunately, none of them are going to let you walk away without penalty.
If you keep a close eye on your credit profile, you might be wondering how refinancing is going to affect your credit score. The truth is, refinancing any loan will invariably have minor, short-term impacts on your credit. They can vary based on your situation.
If you wish your auto loan payment were a bit lower, you may be inclined to try to find your way out of the deal, even if it means trading down or starting over. Depending on the vehicle and your financial situation, that might be the best option. But you should first consider refinancing your auto loan.
Most lessees will drive their leased vehicles until the end of the contract and return it to their dealer. But a three-year car lease is not set in stone. In fact, if you’re looking to buy your car lease early, you can follow the footsteps of thousands of people who have done the same.