Phone
Map

Get Directions

35500 Gratiot Ave, Clinton Township, MI, 48035

Turning In A Lease Early

Man and Woman Signing Contract

If your Chevrolet lease is about to expire, you have a few options: trade in your vehicle for a new lease, return your vehicle to the dealership, or buy out your lease to purchase the vehicle. You also have the option of turning in a lease early, which will require you to pay an early return balance. Learn more about turning in a lease early in the guide below from the Moran Chevrolet, Inc. finance center, and don’t hesitate to reach out with any further questions about the leasing process!

How to Get Out of a Car Lease Early

The simplest way to get out of a lease early is to return your car to the dealership, because your dealer or lender will take care of the details for you. Before making any effort to turn in your car lease early, be sure to check your leasing agreement to see if ending your lease early will incur any fees or penalties. You may be required to pay:

 

  • An early termination fee
  • The remaining balance on your lease
  • A penalty of a flat amount of a series of monthly payments
  • The remaining depreciation of the vehicle

Can You Turn in a Lease Early Without Paying a Penalty?

If the market value of your vehicle is higher than the buyout price, you can avoid larger penalties by buying the car from the leasing company and then selling it yourself. Keep in mind that you’ll still owe a small early termination fee of a few hundred dollars.

What to Do Before Turning in Your Lease

Whether you’re turning in a lease early or waiting until the end of the term, you can make the process easier by getting your vehicle inspected and repaired beforehand. Here’s what you need to know to ensure a smooth lease return in Macomb Township:

 

  • Set up a pre-inspection for a summary of estimated repair charges
  • Get the payoff or buyout amount from the leasing company
  • Find your vehicle’s current market value at Kelley Blue Book or Edmunds
  • Your dealership may require that you make repairs before turning in a lease early
  • Contact a certified Saint Clair Shores-area dealership to schedule a final inspection

Rely on Moran Chevrolet, Inc. for Lease & Finance Info

Questions about turning in a lease early or deciding between a used vs. certified pre-owned vehicle? Our team of auto finance professionals are standing by to help you find a financial solution that’s right for you. Reach out for more info about your auto finance and insurance options, or visit us near Saint Clair Shores today.

More from Moran Chevrolet, Inc.

  • 2022 Chevrolet Trax Configurations

      The compact SUV segment is chock full of options, but the Chevy Trax remains a go-to model for drivers like you in the Sterling Heights area. Unsure which of the Chevy Trax models will serve you best? Learn about the two 2022 Chevrolet Trax configurations with Moran Chevrolet, Inc. to find your ideal vehicle!   New Trax…

  • 2022 Chevy Equinox Colors

    The 2022 Chevy Equinox is an SUV built to please. It’s got plenty of room, a capable engine, and lots of the greatest technology features, perfect for choosy Sterling Heights drivers. The Chevy Equinox colors on offer give you plenty of different styles to make your own, both inside and out. From a sporty red to…

  • 2021 Chevy Blazer Trim Levels

      Need a compact SUV for your daily drives in Sterling Heights? The 2021 Chevy Blazer is stylish, sporty, affordable — and a great investment for commuters and small families alike. A selection of six Chevy Blazer trim levels, 3 engine options, and a vast array of technology features and cabin amenities allow you to customize…

Search
Contact
Glovebox
Chat
Search
Contact Us
Glovebox
Chat
Moran Chevrolet, Inc. 42.5576, -82.8975.