The term, refinance car lease, means changing the terms of a car lease to reduce monthly payment amount, or renewing a lease to accomplish the same result. It would seem to be similar to refinancing a loan.

Unfortunately, refinancing a car lease is not possible. Lease finance companies don’t do it. It would essentially mean ending one lease and beginning another on what would be a used-car — and used car leases are almost non-existent.

For someone who is having problems affording monthly lease payments, there are very few options, none of which actually reduce payment amount. The best option would be to simply end the lease and get into a much cheaper car, with a loan, not a lease. However, ending a lease can be very expensive and may not be worth doing. See our article, Get Out of Car Lease, for more details. One option that is not as costly is a lease transfer, which is discussed in the article.