Getting out of an auto lease could end up being a headache!

If you’re stretching your budget beyond limits to make ends meet, that can be a bad thing. Making payments on something you can’t afford can be extremely stressful. An auto lease is a contract. And opting out of it may come with penalties.

In this video, you’ll earn about the possible penalties of walking away from your auto lease, which can include:

– Early termination fees

– A lower credit score

However, there are things you can do to lessen the impact on your credit score if you still decide to opt out of your current auto lease contract. Before you lease or purchase a vehicle, make sure your credit checklist is handy.

This article is provided for general guidance and information. It is not intended as, nor should it be construed to be, legal, financial or other professional advice. Please consult with your attorney or financial advisor to discuss any legal or financial issues involved with credit decisions.

Published by permission from ConsumerInfo.com, Inc. © 2014 ConsumerInfo.com, Inc. All rights reserved.