Terminating my lease agreement

If you want to discontinue your lease for any reason, don’t worry - there are some ways to get out of a leasing agreement if you feel the car is no longer meeting your needs or you are unable to continue paying.

Option 1: Transfer your lease

Generally speaking, this option is only available between two limited companies. The majority of leasing companies will not transfer a regulated personal contract to another user.

Option 2: Pay the penalty to break free of your lease

Depending on how desperate you are to end your lease, you can return the car back to the leasing company and pay an early termination charge. Remember that you will still be charged any damage/rectification charges if applicable, and any excess mileage charges due.

Option 3: Contact Your Leasing Company

If you are struggling financially and feel as if you can no longer handle the weight of the monthly payments, get in touch with your leasing company.

Some leasing companies are willing to change the payment plan to match how much you can afford. This ultimately means that they can lower your monthly payments for a couple months or even put a halt to your payments altogether. However, this will only be temporary until you are able to resume your payments again. In this instance, they will likely ask you to complete a detailed income and expenditure form.

Terminating Lease Contract

How early termination Fees are Calculated

Each contract type is different, which is why we advise customers to really have a thorough read through of the contract before putting pen on paper. Different leasing companies will charge different termination fees. Typically, this can be as low as 50 % of outstanding rentals; however, the leasing company has the right to charge you at a rate agreed in their terms and conditions.

Ask an expert

Need expert advise regarding leasing? Submit your question now

Send a Question

eNews Signup

Our best vehicle leasing deals delivered direct to your inbox

Signup now

Callback Request

Request a callback from an experienced vehicle leasing advisor

Request callback

More from our blog…

Trustpilot LogoExcellent - 4.9 out of 53559 Verified Reviews

Adrian Lloyd TrustPilot 5 Star

My first time leasing an car and Im really glad I made the decision to choose Rivervale. Jack Fuller was my account manager from start to end...

Added 36 days ago

Tim Hall TrustPilot 5 Star

The customary excellent service from Rivervale. I have just taken delivery of my third car from them and the delivery and collection happened...

Added 37 days ago

Jonathan Cain TrustPilot 5 Star

Great ordering process, Kyle was very quick in replying back with questions and Ellie was very efficient as it approached the delivery date...

Added 37 days ago

Steve Rhodes TrustPilot 5 Star

Excellent service from Kyle as always. Cars delivered and collected on time as promised and lead times much reduced from recent years.

Added 39 days ago

Lisa H TrustPilot 5 Star

Just had my second lease car delivered, very impressed with the delivery of my new car and the collection of my previous car. Jim has been great...

Added 42 days ago

Ayrton TrustPilot 5 Star

Jim really helpful. Second lease I've had through Rivervale, always seem to be the best price online compared to other big lease companies. Happy...

Added 42 days ago

Jon TrustPilot 5 Star

Extremely pleased with our latest lease vehicle from Rivervale and in particular the excellent help and service provided by Kyle. The communications...

Added 43 days ago

Rhys Richards-evans TrustPilot 5 Star

Great service

Added 43 days ago

Simon TrustPilot 5 Star

Jordan was very helpful and the communication through the process was great. All my question were answered quickly and the car was delivered...

Added 43 days ago

Mr John Seddon TrustPilot 5 Star

Absolute pleasure doing business with Jordan and the whole team at Rivervale. Ordering was super easy and the car was delivered the very same...

Added 49 days ago

Arval Lex Autolease Alphabet BVRLA Seagulls Leaseplan Leasys Novuna Vehicle Solutions Santander Millbrook Technology ALD