The process of ending a car lease early by using its value towards a new vehicle purchase or lease is a financial transaction requiring careful consideration. This involves assessing the current market value of the leased vehicle and comparing it to the remaining lease payments and any associated fees. For example, a lessee may explore this option if a newer model becomes available or if their transportation needs change.
Undertaking such a transaction can potentially offer several advantages, including avoiding further monthly lease payments and gaining access to a different vehicle that better suits current requirements. Historically, this practice has become more prevalent as leasing has gained popularity, allowing individuals flexibility in their vehicle ownership.
