Ending a Lex Autolease contract early: termination, transfers and what to ask

What Lex Autolease publishes about ending a business lease early, how the charge works, and whether a transfer to another business is possible.

Lex Autolease is one of the UK's largest vehicle leasing companies and part of Lloyds Banking Group. If your business lease paperwork says Lloyds, it's worth checking whether the agreement is actually with Lex.

This guide covers what Lex publishes about ending a contract early, and the questions to ask before you decide.

Lex's published route: early termination

Lex's own guidance is to request an early termination quote through its Manage My Vehicle service, then arrange for the vehicle to be collected within the period the quote is valid for.

• The charge is worked out under your agreement. It's typically around half of the rentals still to pay, plus the full rental for the month the vehicle goes back.
• Excess mileage and damage are invoiced separately after collection.
• If you miss the collection window on the quote, extra fees can apply, so plan the handback before you accept it.

Your own agreement is what counts. Check the termination clause before relying on any rule of thumb.

Can a Lex lease be transferred to another business?

Lex doesn't publish a standard transfer (novation) process. A transfer is at Lex's discretion. So if you'd like another business to take the lease over, ask Lex in writing whether it will consider a transfer and what it would charge, before you advertise it.

If Lex agrees, the incoming business will go through Lex's usual credit checks, and the agreement moves into its name.

Comparing the two routes

When a transfer is possible, it can cost a lot less than terminating. You pay a transfer fee and the remaining rentals go to the new business, instead of paying around half of them yourself. Our guide to lease transfer or Early Termination Charge shows how to compare the two.

Questions to ask Lex

• What is the early termination charge today, and how long is the quote valid?
• Will you consider transferring this agreement to another UK business?
• If so, what fee applies and what will you need from the new business?

Next step

See what we know about Lex and other funders in our Funder Fees table. If Lex confirms a transfer is possible, list the lease on Swap-a-Lease to find a business that wants to take it over.

This guide is based on Lex Autolease's published guidance on ending a contract early, checked in November 2026. Lex's terms can change, so always check with Lex and your own agreement.