While leasing now accounts for almost 50% of new car purchases in Switzerland, the number of early terminations of leased cars is increasing. There are several ways for private individuals to terminate their leasing contract :
- Buy the vehicle early : The first option for ending a leasing contract with a purchase option is to opt for early repayment. If this is the case, the customer can refer to the table attached to the contract or contact the finance company to find out the buy-back value. Once this sum has been paid, the individual becomes the owner of the vehicle. It is then up to them to keep it or resell it.
- Transferring the leasing contract : This is certainly the best way to terminate a leased car early. This method consists of transferring the contract to a private individual or company. The former lessee thus withdraws from his obligations in favour of the new lessee. It should be noted, however, that the finance company must give its prior consent.
There are many situations that can lead to early termination of a car lease. While there are several ways to terminate a contract, only two of them allow you to limit the financial impact of this withdrawal : Early buy-back and lease transfer. Hence the importance of thinking carefully before terminating a lease.
