I'm a little bit confused on paying my lease amount early.

As far as I understand, I loaded the total amount of the car. Let's say the total amount of car is 50k and the total lease amount is 25k.

If I pay 25k early, how does that work with my credit?

Let's say I can't lease a new car because I already one a car loan in my credit. If pay the lease early, am I going to be able to lease a new car even if I haven't returned the car yet (leased one)?

Update: Not sure why this is marked as duplicate. The first question is not related. I'm trying see how it affect my credit when I pay off early.

  • 4
    You might be confusing the terms "loan" and "lease" -- your question isn't very clear. A lease is not the same thing as a loan. It is very difficult to get out of a lease before the end of the lease term. With a lease, you have a monthly payment -- it's more like a long-term car rental and you don't own the car. You don't get to keep the car at the end of a lease -- you turn it back in because you never owned it.
    – Rocky
    Oct 31, 2015 at 23:25
  • @Rocky // Sorry about my ignorance. I'm not good at these. So...I have a lease car. What happens if I pay off the all the remaining monthly payments? Does that count toward my credit?
    – 3232123123
    Nov 1, 2015 at 0:34
  • If you can afford to pay $25k, you should be able to be able to lease a second car... or you can't really afford it and shouldn't be trying.
    – keshlam
    Nov 1, 2015 at 0:56
  • @keshlam // it's just an example. I'm trying to understand how it works.
    – 3232123123
    Nov 1, 2015 at 2:08


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