Ending Your Lease Early
There are a few options available if you are interested in ending your lease early.
If your vehicle is leased with a third-party lessor, refer to your lessor for lease-end options, as options may differ. The following applies to leased vehicles through Tesla Lease Trust.
Although it can be costly, an early lease termination is allowed if you have one or more lease payments remaining.
There are two options for early lease termination depending on how many months are left on your lease:
- Less than three months remaining until your lease end date: Pay your remaining lease balance along with any end of term charges in the Tesla Leasing Portal.
- Three or more months left until your lease end date: Pay the difference between your adjusted lease balance and the current market value of your vehicle.
To initiate the early lease termination process from the Tesla app, follow these steps:
- Open the Tesla app.
- Tap ‘Financing.’
- Tap ‘Lease Details.’
- Tap ‘Manage Lease.’
- Next to ‘Update Lease,’ use the dropdown arrow to select ‘Early Lease Termination.’
- Follow the prompts to obtain an estimate quote to terminate your lease early. This quote is subject to change pending an inspection, the date the vehicle is returned and quote expiration.
Once you’ve completed those steps, we will ask you to complete an inspection and schedule a drop-off appointment. You must remit payment and submit and odometer disclosure when you return your vehicle.
Note: To access this feature in the Tesla app, make sure you have the latest version of the Tesla app.
You can purchase your vehicle at the end of the lease. Learn more about eligibility and getting started with your purchase option.
Does Tesla offer a third-party dealership purchase option?
Yes. Third-party dealerships are eligible to purchase leased vehicles. Contact us to initiate a third-party dealership purchase.
Does my early lease termination quote expire?
Yes. Early lease termination quotes are good up until the day prior to next payment due date.
Why can’t I see the option to an early lease termination in the Tesla app?
The option to terminate your lease early will only appear in the Tesla app if you are leasing with Tesla. If your vehicle is leased with Tesla and you still don’t see the option, make sure you have the latest version of the Tesla app. If your vehicle is leased with a third-party lessor, contact them directly for more information on early lease termination or other lease-end options.
What charges are applied if I terminate my lease early?
Early lease termination charges vary based on factors including your lease terms, the remaining duration of the lease, the current value of your vehicle and applicable state regulations such as property taxes.
If your vehicle is leased with Tesla, you can request an estimated quote on the charges associated with terminating your lease early. To request a quote from the Tesla app, follow these steps:
- Open the Tesla app.
- Tap ‘Financing’ > ‘Lease Details’ > ‘Manage Lease.’
- Select the dropdown next to ‘Update Lease.’
- Select ‘Early Lease Termination.’
- Follow the prompts to obtain an estimated quote.
If your vehicle is leased with a third-party lessor, contact them directly for details regarding early lease termination charges.