Advertiser Disclosure

Advertiser Disclosure: The credit card and banking offers that appear on this site are from credit card companies and banks from which receives compensation. This compensation may impact how and where products appear on this site, including, for example, the order in which they appear on category pages. does not include all banks, credit card companies or all available credit card offers, although best efforts are made to include a comprehensive list of offers regardless of compensation. Advertiser partners include American Express, Chase, U.S. Bank, and Barclaycard, among others.


Dig Deeper


Become a Money Crasher!
Join our community.

Save Money And Get Out of Your Car Lease

It’s no secret that our wallets are really taking a hit from the astronomical gas prices. My wife and I both own small cars, so we do not get hit as hard as people with trucks and SUVs. Did you recently lease a truck, SUV, or other gas guzzling car? Are you trying to find a way out of the lease? CNN Money has a great article about how to get out of your SUV lease. Popular websites such as Lease Trader and Swap A Lease will help you transfer over your lease to someone else.

First of all, I don’t think it’s a financially smart move to lease a car in the first place. Why would you rent a car for a period of time and be told how many miles you can put on it in a given year? Then, at the end of the lease, they give you the option to buy it at a price that is MUCH higher than it would have been if you were paying down a car loan. I just don’t get why people lease cars. I can understand why companies lease them. Whether they buy a company car or lease it, it’s still just an expense to them. But, there’s no reason why you should lease a brand new car just because you like driving a new car. Now, people who leased an SUV or a truck are really feeling it. Their gas expenses are horrible and they don’t even own the car!

Make sure you check out the article from CNN Money. It may be an option you are interested in. The article explains all of the fees involved. Make sure you do the math to see if it is worth it for you to pay the fees to transfer over the lease. If you recently leased the car, you’ll have an easier time transfering it rather than someone who is nearing their mileage limit on the lease. If you are looking to make some progress on paying off debts, this should definitely be something that you consider. Think about how much more you could pay off on your credit cards or student loans if you did not have that lease payment? You could buy a $1,000 a car, knock out your debt, and then start saving up to buy a nicer, newer car.

Erik Folgate
Erik and his wife, Lindzee, live in Orlando, Florida with a baby boy on the way. Erik works as an account manager for a marketing company, and considers counseling friends, family and the readers of Money Crashers his personal ministry to others. Erik became passionate about personal finance and helping others make wise financial decisions after racking up over $20k in credit card and student loan debt within the first two years of college.

Next Up on
Money Crashers

Brokerage Account Bonus Offer Cash

12 Best New Brokerage Account Promotions & Bonus Offers – June 2020

Did you know America’s top investment platforms also offer impressive new-account bonuses? Top-tier brokerage account promotions dwarf the leading bank and credit card promotions, promising thousands to new customers. That makes now the right time to consider a new brokerage firm.
Couple Holding Sports Tickets

13 Places to Buy Cheap Discount Sports Tickets Online & Off

More than 1 in 10 millennials have fallen victim to ticket counterfeiting, according to a study by anti-counterfeiting outfit Aventus. You probably know someone...

Latest on
Money Crashers

Sign Up For Our Newsletter

See why 218,388 people subscribe to our newsletter.

What Do You Want To Do
With Your Money?