Transfering a Lease ?

[Russian]

I'm leasing a car right now, that i would like to get rid of. I have about 2 years left on the lease
How does lease transfer works ??? Are there any fees?
any help would be appreciated

[mrcantrell]

Things like that would contract and lender specific. Read your contract.

[DragonZealot]

Normally you have to pay an admin fee.

First you have to find a person that is willing to take over your leese. Then the dealer will check the credit of that person. Once the credit is approved you can transfer the leese over.

[3weddings]

We never make it the full 36 months on our leases either. What we have found profitable to do is to sell the vehicle ensuring that it's worth more than what is owed on the lease incl the buyout (it works if the b/o is low). Our profits have always been well over $1000!

As for transferring, your contract should have the details.

[new_vr]

We never make it the full 36 months on our leases either. What we have found profitable to do is to sell the vehicle ensuring that it's worth more than what is owed on the lease incl the buyout (it works if the b/o is low). Our profits have always been well over $1000!

As for transferring, your contract should have the details.
How exactly do you ensure that it's worth more?

[Audiogenic]

www.leasebusters.com

Be careful though.

In a court of law, you are still legally liable for the remaining lease payments if the person you transfer the lease to doesn't make all of the payments to the vendor regardless of what has been signed/payed in the form of a transfer agreement. Yes, the vendor can turn around and sue you both for breach of contract.

[majesus]

www.leasebusters.com

Be careful though.

In a court of law, you are still legally liable for the remaining lease payments if the person you transfer the lease to doesn't make all of the payments to the vendor regardless of what has been signed/payed in the form of a transfer agreement. Yes, the vendor can turn around and sue you both for breach of contract.

Audiogeneic, I always find you extremely helpful. You totally rock! :)

My GF is on the opposite situation of the OP. She found a car she wants to take over someone's lease. We never done this before, so she wants to know the costs and how to transfer a lease.
We will get a copy of the contract and read over it carefully.

I am reading the faq from leasebusters:
"The transfer fee varies from leasing company to leasing company (and dealer to dealer). If you are looking to get-out-of you lease, call the business manager of your original selling dealership and request a lease-transfer-fee quotation. If you are looking to get into a lease and the lessee is requesting that new-lessee pay the transfer fee, simply speak to the lease-owner (lessee) directly and request the amount." Excellent site, very hand and useful FAQ! Thanks a bunch :)