Early Lease Termination no penalties?

[AaronXu]

Hey guys I was was curious about the early lease return for my car and they quoted me this,not sure if it means there's no cost for me if I return it now?

 

[tldickerson]

It says good thru Jan. 9th 2022

 

[outdoors]

I know several people who have terminated leases over the last 12 months owing nothing, or nothing with a few phone calls. Cars are in demand for now. Often can be auctioned off for more than end of lease values.

 

[ATPMSD]

Never saw a document like that, wonder if this is something special in Canada. Generally speaking, early lease termination is the cost of all remaining payments plus the lease termination fee, if any. So in most cases there is no point in terminating early. However, you should check the lease buy out cost. In many cases buying the car allows you to then sell it at a profit.

 

[AaronXu]

Never saw a document like that, wonder if this is something special in Canada. Generally speaking, early lease termination is the cost of all remaining payments plus the lease termination fee, if any. So in most cases there is no point in terminating early. However, you should check the lease buy out cost. In many cases buying the car allows you to then sell it at a profit.

yea thats what i thought but I think here in my province Tesla does not let you buy out if it's lease so there's only 2 options,lease transfer or early lease return,in used market here the cheapest 2021 M3LRP is selling for 63k wish I could buy it out and resell thats 20k difference xD