Trump's tariffs on imported vehicles may lead consumers to consider early termination of auto leases

From Yahoo Finance: 2025-04-13 08:01:00

President Trump’s new tariffs on imported vehicles and parts are expected to raise car prices significantly, impacting both new and used vehicles. Industry analysts predict these 25% tariffs will drive up costs for consumers, leading some to consider early termination of auto leases to adapt to changing financial circumstances or market conditions. While existing leaseholders are protected from immediate cost increases due to fixed monthly payments, early termination may still make sense for those facing financial hardship or changing needs. Experts recommend considering options like lease transfers, trading in the vehicle for a new lease or purchase, or buying out the lease to navigate the impact of rising car prices caused by tariffs. Terminating a lease outright is the most expensive option, while transferring the lease to another party or trading in the vehicle for a new lease or purchase may be more cost-effective solutions. Leasing companies may offer flexible solutions like extending the lease term or waiving fees to help individuals struggling with payments due to economic changes like tariffs. Open communication with your provider is key to exploring potential compromises and negotiating alternatives not explicitly outlined in contracts.



Read more at Yahoo Finance: How To Get Out of Your Auto Lease Early As Trump’s Tariffs Kick In