The Ultimate Guide to Car Lease Transfers

Car lease transfers can be an excellent solution for both parties involved. The original lessee can exit their lease early without penalties, while the person assuming the lease can enjoy a shorter term and potentially better terms.

What is a Lease Transfer?

A lease transfer, also known as a lease assumption, occurs when someone takes over the remaining portion of your car lease. This includes all the responsibilities, payments, and terms of the original lease agreement.

Benefits of Lease Transfers

• Early lease termination without penalties
• Potential savings on down payments
• Shorter lease terms available
• Flexibility in vehicle choice

The Transfer Process

The lease transfer process typically involves several steps:

1. Initial agreement between parties
2. Credit check of the lease assumer
3. Paperwork submission
4. Leasing company approval
5. Transfer completion and vehicle handover