Exceeding this limit results in hefty per-mile fees, but terminating the lease entirely before the 6-month mark triggers a different set of penalties. The process begins with a dealer assessment, where the vehicle is inspected for any damage beyond normal wear and tear.
Trade In Leased Car After 6 Months Process
Understanding the 6-Mile Rule and Early Termination Most standard lease agreements contain a clause regarding the permitted annual mileage, typically set at 10,000 or 12,000 miles per year. In such scenarios, the lessee may need to seek out specialized "buy here, pay here" dealers or explore assumption options where a third party takes over the lease directly with the lessor, bypassing the need for a new loan approval.
The dealer will then calculate the payoff amount, which includes the remaining lease balance plus any applicable fees, and present a quote for the "lease buyout" price. This figure represents the predetermined cost to purchase the vehicle at the end of the lease.
Trade In Leased Car After 6 Months Process
While the traditional lease path assumes a steady commitment until the end of the term, the secondary market for early exits has become more accessible. The dealer acts as an intermediary who purchases the remaining lease payments from the lessor and assumes the contract.
More About Can you trade in a leased car after 6 months
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