What is the Timeframe to Return a Leased Car?

If you’ve just leased a new car in the Ridgewood area for the first time, you probably have some questions about the process. We try to go over all the basics when you sign the lease papers, but some drivers still have questions about unusual circumstances. One of the most common questions we get is about returning a leased car before the lease period is up.

The average car lease lasts two to three years, and your leasing company will typically contact you around 30 to 90 days before the official end-of-lease date. This is to give you a head start on the lease return process so you don’t have to feel rushed by the time the term is up. But what if your circumstances change and you want to return your lease well before the period is up? If you’re asking yourself, “Can I return a leased car within three days?” or “Can you return a lease after one day?”, our financing team has you covered.

Can You Return a Leased Car Within 30 Days?

If you find that you no longer need or want a leased car and need to return it almost right away – whether it’s after a few days or a few months – you’re usually able to do so. Cases vary based on a lot of factors, obviously, but the answer to the question, “Can I return a leased car within 3 days?” is typically a yes.

If this sounds too good to be true, that’s because there are some caveats involved. You generally can’t just cancel a lease out of nowhere without having to pay some hefty fees for early termination. You may even have to pay all of the remaining lease payments all at once, or the difference between your current lease balance and your car’s projected lease-end value. Any fees you have to pay usually increase the earlier you want to return the car. You should plan to terminate your lease early only if you really don’t have any other options, since you may end up paying for the entire lease anyway without getting to drive the car.

What to Ask Before Ending a Car Lease Early

While extreme circumstances might demand you return a lease only a few days into your contract, it’s much more common to end a lease with a year or less left on the term. While you’ll still likely incur early termination fees, they’re less severe than if you terminate the lease after a couple of days or weeks. No matter when you want to end your Jersey City lease, here are three key questions you ask yourself before making any concrete decisions:

• Why do you want to end the lease early? Terminating a lease early is just as much of a commitment as leasing a car in the first place, so it’s important that you’re doing it for the right reasons. If you want to get rid of your car because you don’t like the color or the interior upholstery, that probably doesn’t justify the hefty early termination fees.
• What kind of a fee would you pay? You should do some research and find out the extent of the fees you’ll pay if you terminate your lease early since they could potentially add up to several thousand dollars or more.
• What are the lease company’s policies? Your leasing company may not have an early termination policy, or it may be more restrictive than you realize. Ask the company about their policies and see if they can work with you to create a realistic plan that favors your financial circumstances.

Learn More About Leasing at Land Rover Paramus

If you have any questions about leasing a car in the Fort Lee area, our finance team is here to help! Contact our office or stop by our Paramus, NJ dealership to learn more about the buying or leasing process, or continue your research online with our most useful financing tips and tricks.