Can I Change My Lease Car For Another Car?

It’s understandable that you might have changed your mind on the car you’ve leased; it happens. You might have realised that the car isn’t the right fit for your lifestyle anymore. Maybe you need a bigger car, or maybe you’re looking to relocate. Life happens, and sometimes that means making unplanned changes.  

However, there are some issues that can arise when you want to change your lease car, especially if you’re midway through your existing lease. But in this guide, we dive into the options available to you.  

Can You Change A Car Lease Mid-Contract?

Yes you can always change your lease contract. However its not as simple as calling up your leasing provider and telling them your lease no longer suits your needs so you are handing it back. To make changes to your lease mid contract, more often than not charges will be applied. This is because the monthly lease cost is calculated on the specific lease terms you have agreed to, and changes mid-term may result in the provider losing money. 

You may be able to change the terms within your agreement to make your car more suitable for you. Some providers and contracts may allow you to: 

Change your mileage agreement  

Most lease cars come with a pre-discussed mileage agreement, meaning that if you exceed this, you can incur additional mileage fees. Changing this may mean your leased car still meets your needs and you avoid excessive charges, but your monthly payment may change. 

Upgrade Or Terminate Your Car Lease Early 

There is another way you can switch your leased car, but it involves upgrading or ending your car lease early. Early termination allows you to exit a lease before the end date, allowing you to start a new one.  

However, this isn’t a simple or cost-free process; it can involve: 

• Lease settlement fee or early termination fees. Settlement amounts typically equal about 50% of the remaining payments, but this varies by provider. 

• Administration fees. The provider may charge you fees for the administration work involved.  

• Requires the leasing company’s approval 

• Potential credit checks for new lessees 

• Could result in negative equity. If the car’s current market value is lower than the residual value stated in your lease agreement, you may need to pay the difference. 

So, if you still want to switch cars, this may be your best option, but be aware of the costs that come with it.  

A Step By Step Guide To Swapping Your Lease Car 

A car lease transfer or swap allows the current leaseholder to pass their existing lease agreement to another person. Instead of ending the contract early and paying costly termination fees, the new driver assumes the remaining monthly lease payments, mileage allowance, and responsibility for the vehicle (including maintenance costs) for the remainder of the agreement. 

If you’re not in a place to terminate your lease and you still need a different car, you can always swap your lease agreement.  

This option can be useful if your circumstances change and: 

• You no longer need the car 

• Would like a different vehicle 

• Want to reduce your monthly expenses 

However, lease transfers are not guaranteed.  

So, before considering a lease transfer, it’s important to review the terms of your agreement and check whether your provider allows lease assignments or swaps. 

If you’re confident you would like to swap your lease, you can do so by following these steps: 

1.  Check Your Lease Agreement 

Start by reviewing your lease contract to confirm whether lease transfers are allowed. Not all agreements permit transfers, so it’s important to check for clauses mentioning “lease transfer”, “lease assignment”, or “transfer of contract.”  
If you’re unsure, contact your leasing provider to clarify the terms and any conditions. 

2. Contact Your Leasing Company 

Once you’ve confirmed a transfer is possible, inform your leasing company that you want to swap your lease. They will explain the process, confirm the eligibility requirements, and outline any administrative or transfer fees.  

3. Find Someone to Take Over the Lease 

Next, you’ll need to find a new driver willing to take over the contract. This could be: 

• A friend or family member 

• Someone through a lease takeover marketplace 

• A driver looking for a shorter-term lease agreement.  

4. Credit Check and Application 

The person taking over the lease must usually complete a finance application and pass a credit check before the leasing company approves the transfer.  
This ensures they can afford the remaining monthly payments. 

5. Pay the Transfer Fee 

Most leasing providers charge a lease transfer or administrative fee, which can vary by company and contract. This fee typically covers paperwork, contract changes, and the administrative process. 

6. Sign the Transfer Agreement 

Once approved, the leasing company will arrange the paperwork to transfer the finance agreement to the new leaseholder. Both parties may need to sign documents confirming the transfer of responsibility.  

7. Hand Over the Vehicle 

After the transfer is finalised, the new leaseholder takes possession of the vehicle and continues making the remaining monthly lease payments until the contract ends. 

Tip: Always check whether you remain partially responsible for the lease after the transfer. Some finance providers still hold the original leaseholder accountable if payments are missed. 

What To Do If You Want To Change Your Lease Car 

While changing your lease car mid-contract isn’t straight forward, that doesn’t mean you’re completely stuck with your current vehicle. If your circumstances change, there are still a few options worth exploring. 

Get in touch with Motorlet today with your leasing questions - or to begin your leasing journey.  

Frequently Asked Questions