Early Termination Charge


  • If a leasee turns in a leased vehicle before the lease term expires, a fee is charged to terminate the lease.

termination charge, cancellation fee

Related Terms and Acronyms

  • Lease (lse) Abbreviation,
    • A written agreement in which the property owner allows a tenant to use property in exchange for rent, and for a specified period. Or, a written agreement in which a car dealer allows a consumer to use a vehicle in exchange for payments for a specified period.
  • Mileage Allowance Definition,
    • The number of miles, specified in a lease, that a car may be driven over the life of the lease.
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