Trading In A Leased Car Early

Want to trade car in before lease is up.. How do we do it?

We have a 2007 Pontiac G5 2 Door Coupe that the lease is not up until Spring 2011, so another year and a bit… We have a baby on the way (due in May) & the car is not exactly family friendly and I cannot drive it as it’s standard… Can we trade it in for a new car earlier then Spring 2011? How would we go about it and what sort of fees would we be looking at? We really want to trade it for another car, 4 door automatic of some sort. If possible would it be best to go to the dealer we got it from or is it better to do it at another dealership? Is it a long process? Thanks for your help!!

Unless your lease has an early buy-out provision (most don’t) you’re going to have to retain the vehicle for the duration of its lease. If your lease does have an early buy-out, the penalties are going to be substantial. In limited cases, some lessors permit lessees special waivers during promotional periods; but these are rare, few, and far between, and almost always when the leasing is provided by the manufacturer’s “captive” finance company (i.e. Ford Motor Credit for Ford vehicles).

The amount of any penalty would vary from lease to lease and vehicle to vehicle. The best place to determine this with certainty would be to consult your original lease agreement and/or contact the dealer from which you leased your vehicle.

Best of luck. I hope this helps.

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