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How are early termination charges calculated?

April 26, 2017calculated Charges early termination

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How are early termination charges calculated?

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If you return the vehicle at early termination, the charge is generally the difference between the early termination payoff and the amount credited to you for the vehicle after its sale in the wholesale market. The early termination payoff is the total amount you owe under the lease agreement at the time of termination before subtracting the value credited to you for the vehicle. The early termination payoff includes the unpaid lease balance.

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A. If you return the vehicle at early termination, the charge is generally the difference between the early termination payoff and the amount credited to you for the vehicle after its sale in the wholesale market. The early termination payoff is the total amount you owe under the lease agreement at the time of termination before subtracting the value credited to you for the vehicle. The early termination payoff includes the unpaid lease balance. Back to the top Q23.