Plan to turn in your vehicle earlier than your maturity date?
We understand you may decide to turn in your vehicle early, so here is what you need to know about your lease obligations if you do
- Servicemembers’ Civil Relief Act (SCRA): Eligible service members may terminate their lease agreement prior to the scheduled maturity date without early lease termination charges. You must contact us at 800-874-7050 to determine eligibility.
- Gold Star Military Program*: Eligible service members and spouses of service members who have suffered death, a catastrophic illness or injury may be eligible for early termination. You must contact us at 800-874-7050 to determine eligibility.
* Cancellation or forgiveness of lease obligations may be taxable as income. Please contact your tax advisor for more information
- Transfer of Lease: If you have someone who is interested in taking over the lease contract and obligations to the lease agreement, please contact us at 800-874-7050 to learn more about transfer criteria and options.
- Probate Lease Cancellation*: In the unfortunate event of death of all parties on the lease contract, there may be eligibility for early termination and forgiveness of any remaining lease payments. You must contact us at 800-874-7050 to determine eligibility.
* Cancellation or forgiveness of lease obligations may be taxable as income. Please contact your tax advisor for more information
- TFS will calculate your early return balance. Where applicable, TFS will use the lowest calculation of this balance based on your lease agreement.
- You will get a Lease End Invoice 60-120 days after return as calculation of your balance may be determined after the vehicle is sold at auction
- Review the “Return Your Vehicle” section to learn how to prepare and what to expect upon return.
Gain access to even more information on your lease-end.