Voluntary termination means that you choose to end your lease before its scheduled termination. Most leases give you the option of ending your lease early. In most of these leases, you may turn in the vehicle, pay the balance due (including any associated early termination and other costs, which may be substantial), and end the lease. Some leases permit you to terminate early only if you purchase the vehicle.

Involuntary termination means that the lease ends early for reasons unrelated to a voluntary termination, such as when the vehicle is stolen or totaled in an accident. You may have gap coverage to pay some or all of the deficiency owed in this case. Failing to meet one or more conditions of your lease agreement (defaulting on your lease) may also lead to early termination.