Ending Your Lease Early
There are a few options available if you are interested in ending your lease early.
Transfer Your Lease
You may be eligible to transfer your lease to a credit-approved assignee. Lease transfers are not permitted in the final 12 months of the lease period, and the current leaseholder is responsible for finding an applicant to take over their lease.
Note: Free Supercharging and Premium Connectivity will not transfer to the new owner.
Once you’ve found a potential transferee, follow these steps to initiate the lease transfer:
- Contact us for a credit application. The potential transferee must submit the following documents to Tesla to initiate the lease transfer process:
- Tesla will review and provide a credit decision. If approved, both parties will be given a list of eligible dates on which they can exchange the vehicle. Once the exchange date is selected, it must be listed on all contracts.
- Tesla will send additional contracts and documentation for the transferee to complete, along with any documents required for Tesla to register the vehicle with the local authority.
Note: The transferee must also provide valid insurance on the vehicle meeting Tesla requirements and with an effective date matching the lease transfer date.
- Assuming all previous requirements are met, Tesla will confirm if the vehicle can be exchanged and will provide copies of the final contracts on the specified exchange date.
- Once the transfer is completed, Tesla will process the documents and finalize the new registration for the transferee. The transferee will be billed for all registration costs, transfer fees and applicable taxes once complete.
Current leaseholders may have the option to purchase their car or sell it to a third-party dealership, depending on what is allowed under the lease contract.
- Email us for a current third-party dealership buyout quote.
- Once you receive your buyout quote, Tesla will ask you to confirm your intent to move forward as well as your registration address.
- Additional information will be requested from the third-party dealership. This information must be provided in order to finalize the purchase quote.
- Tesla will prepare a purchase packet with a good through quote date matching that of the buyout quote. All parties listed on the lease agreement, in addition to the third-party dealership, must sign the purchase packet.
- The current owner and dealership are responsible for remitting all funds to Tesla for the full quote amount. Funds must be received by the good through quote date listed on the purchase packet. Payment instructions are included in the purchase packet.
- Once funds are received, Tesla will review your documents, process payment and finalize the purchase.
- Tesla will mail the ownership transfer documents directly to the dealership.
Contact us for additional information.
Although it can be costly, early lease termination is allowed if you have at least one lease payment remaining.
There are two options for early lease termination:
- Pay your remaining lease balance via the Tesla Leasing Portal.
- Pay the difference between your adjusted lease balance and the current market value of your car. Contact us to receive a quote.
Note: You must remit payment and submit an odometer disclosure at the time of car return.
Frequently Asked Questions
How can I get a resale certificate?
If Tesla requests that you provide a resale certificate for a third-party dealership buyout, you can contact the purchasing dealership to obtain one. Please note that the certificate will then need to be sent directly to us.