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:
- If they do not already have one, ask the potential transferee to create a Tesla Account.
- Send a credit application to the potential transferee through your Tesla Account. You will be able to request a transfer date. The transfer date cannot be less than 7 days from the date. To initiate the lease transfer process, the potential transferee must submit the required documents through their Tesla Account.
To initiate the Lease Transfer process from your Tesla Account:
- Sign in to your Tesla Account.
- Next to your car, select ‘Manage.’
- Next to Lease Summary, select the dropdown arrow.
- Select ‘Manage Lease.’
- Next to Update Lease, select the dropdown arrow.
- Select ‘Update Lease.’
- In the dropdown menu, select ‘Transfer Lease.’
- Enter the contact information of the potential transferee, then submit. When entering their email address, make sure it is the email address associated with their Tesla Account. If no Tesla Account is associated the email address submitted, Tesla will send account set-up instructions directly to that email address.
The potential transferee must submit the required documents below to initiate the transfer process:
- Tesla will review and provide a credit decision. If approved, both parties will be asked to confirm the terms in their Tesla Account. Tesla will provide a transfer date once the terms have been accepted. The exchange date will be listed on all contracts. The vehicle may not be exchanged prior to the exchange date without prior approval from Tesla.
- Tesla will send additional contracts and documentation for both parties to complete, and any documents needed 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.
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:
Note: You must remit payment and submit an odometer disclosure at the time of car return.
Frequently Asked Questions
Does Tesla offer a third-party dealership buyout option?
Tesla does not offer a third-party dealership buyout option. If you would like to end your lease early, review your Lease Agreement to learn more about your options.