Car Lease Questions – How To Do A Car Lease Swap

If you have a car lease and are looking for a way to drive something different, you do not have to turn the car into the dealer, incur a penalty and then lease another car. You can participate in a car lease swap. A car lease swap is when you exchange your car lease for another lease on a different car. It does not necessarily mean that the person whose lease you assume takes your car. A car lease swap takes place at car lease depots that allow for lease assumptions. 

Leasing a car is something that many people like to do because it is not as expensive as buying a car. The monthly payments are lower in a leased car than in a car that you purchase. When the lease expires, you have the option of purchasing the vehicle for the then value or you can turn the car back in.  Leasing a car is also considered to be a smart idea for those who own their own business or use their car for business purposes because of the tax incentive. 

The standard car lease is for three years. Many people, after a year or so, decide that they would rather drive another car but feel that they cannot get out of the lease. Most lease holders will have a penalty included if you break your lease early. This keeps many people in their cars longer than they want. 

A car lease swap gives you the option to get out of your car lease early, without incurring a penalty. You simply list your car lease available for a car lease swap and get someone else to take over the lease payments for you. You can just give up your car or you can get another car lease that is more suitable to you. 

For example, you may want to do a car lease swap if your circumstances have changed. You may have signed a car lease for a car that was very luxurious but found that you can no longer afford to make payments. Rather than incurring a penalty for turning in the car and ending the car lease early, you can use the car lease swap program and get a less expensive car. This can work vice versa for you as well, depending on your circumstances. 

A car lease swap also entitles you to get a lease with a shorter term so that you can get out of the car lease sooner. Many people find that their change of circumstances means that they need to only lease a car for a certain period of time. You can get a short car lease term when you participate in a car lease swap. 

If you have a car lease and no longer want to drive the car or cannot afford the lease, you can opt for a car lease swap and get a lower monthly payment without incurring a penalty for breaking the lease early when you use a site that allows you to swap car leases.