Tips And Advices - Transfer Your Leased Car

Contact your lessor to make sure it allows lease transfers or lease assumptions. The lessor probably doesn't advertise the fact, but may allow it after a certain period of time.

Find someone willing to take on your lease. Ask acquaintances, friends and relatives. Advertise. There are Web sites that facilitate lease transfer for a fee, such as LeaseTrading.com, LeaseTrader.com and SwapALease.com.

Have the buyer complete a credit application. When the leasing company approves the application, it will issue transfer documents for you and the lessee-to-be to sign.

Hand over your former leased car to the new lessee, who begins making the remaining payments. At the end of the lease, the new lessee returns the vehicle to the leasing company (or might have the option to buy, depending on the company).