When you take out a car lease, it is usually for a period of 3-5 years, with no intention to cancel. Just like buying a car on finance, you are subject to a contract which is very difficult to break. But sometimes situations change and you need to get rid of your car. Perhaps you are moving abroad or have been offered a company car for a fraction of the cost? Companies usually require a valid reason for cancellation so it has to be genuine. Changing your mind because you’re bored of your car will not cut it with these companies.
Like all cancellations, there is usually a fee of between £250-500 but in the schemes of things, it is often worth paying these costs. Some companies also offer a refund for any upfront payments you have made but you would be very fortunate if this is the case. It would also affect things like taking another lease out in the future, any bonuses the scheme might have offered or any future discounts.
We advise to speak to your dealer and read the terms and conditions carefully. No one likes an unexpected cost and cancelling a car lease is an expensive one.