leasing rights, and you're no longer responsible for the car. 3 Sell the car and pay off the lease agreement. Contact your leasing company and inquire about a car buy-out (the amount to buy the car) Next, place classified ads in your local newspaper and find a buyer for the car. Once the car sells, use the proceeds to pay off the lease agreement. 4 Take the car back to the dealership. If you can't find a person to assume the lease and you don't have cash to terminate the lease agreement without penalty, simply return the car and keys to the dealership and walk away. Because the dealership owns the car, they're obligated to take the car back. However, the dealership or leasing company will report a repossession to the credit bureaus, which decreases your credit score.