Discard Title Lease For Free

If your leasing company offers the option, ending your car lease early means you're released from making remaining payments on your current leased vehicle. But it also means that you have to turn in the car and pay the balance due, including any costs, fees and penalties associated with early termination.

Do not return your old plates to DMV. Destroy your old plates so that they cannot be reused. If your plates are not destroyed and someone else uses them, you could be held responsible for any traffic tickets written against the plates and for any fines resulting from the tickets.

You will not receive the original title certificate as proof of ownership. The leasing company is the owner and holds the title certificate, which displays their name. Your NY State Insurance ID cards and the electronic notice together verify your coverage.

You must surrender your vehicle registration and plates to the DMV before the New York State liability insurance is cancelled. If you register your vehicle in another state and surrender the New York vehicle plates to the New York DMV, you can get insurance in the other state.

If the plate was registered to you prior to leasing the vehicle, we can transfer the plate with no documents required. If plate was acquired during your lease, a Plate Release letter will be needed from the leasing company giving you the plate.

If you do not turn in your plate(s), we will suspend your registration and can suspend your driver license.

If you've been thinking about purchasing your lease, you may be searching for the answer to the question, ?Can you negotiate a lease buyout?? In short, yes. Most leasing agreements include an estimated buyout price in the contract, but in most cases, it's possible to negotiate a better deal.