How Does a Car Lease Transfer Work?
How Does a Car Lease Transfer Work?

How Does a Car Lease Transfer Work?

The car lease transfer or swap is when your current auto lease is transferred from one driver to a different responsible party. In addition to taking over the payment terms, the new owner also agrees to pay the running costs of the vehicle.

Vehicle lease transfers are a good option if your financial situation has changed or you want to lease a different car.

Let’s look at the benefits and disadvantages of the lease transfer, as well as how to swap out a car lease.

How to Swap a Car Lease

To start a lease swap, the following steps need to be taken.

  • Confirm with the finance company that the transfer is possible.
  • Ask about any necessary fees.
  • Find someone to take over the lease. You might have a relative or friend that is willing. The Vantage Auto Group can also help you find a reliable party in the New Jersey & New York metro area.
  • Once a new driver is found, the financial company needs to do a credit check.
  • Paperwork is completed to finalize the car lease transfer.

With the transfer, the new driver must visit the department of motor vehicles to transfer registration and get new plates if needed.

What to Remember About Auto Lease Transfers?

A Car Lease takeover can be a great arrangement for both the person transferring the auto lease and for the person taking it over. The original lessee gets the lease payment off their hands, and you get the wheels you need — or want — without a long-term financial commitment for your new vehicle.

There are a number of ways to get out of a car lease and avoid early-termination fees. Transferring the contract to someone else can be a particularly appealing choice. Just make sure your financing company allows such transfers before you start the process. Also find out whether you’ll still be on the hook for payments if the other person fails to make them.

Lease transfers that allow for lots of miles to be driven per month are attractive options for many shoppers. Unique or hard-to-find vehicles also do well.

The easiest way to see if your lease can be transferred is by reading the disclosures on your lease agreement. “Transfer of equity” is contract jargon that essentially says you’ll still be financially responsible if you transfer a lease to somebody and the new lessor fails to pay. If your lease allows for a “full lease assumption,” you can transfer your lease to a new user and wash your hands of all responsibility.

A small percentage of leasing companies don’t permit transfers at all. If you think you might want to transfer your lease down the line, find out if the bank that’s handling your lease will allow you to do so.

At The Vantage Auto Group, we save you time, money and peace of mind when it come to Leasing your New Car!

The Vantage Auto Group is proud to present an incredible car inventory available for Lease! At The Vantage Group, we save you time, money and peace of mind! No need to deal with the headaches of sitting in a dealership for hours on end and haggling with pushy sales reps.  With our robust dealer network, we’re able to get wholesale pricing and guarantee the most competitive lease or purchase price on any new vehicle. We handle all makes and models, so you can be confident that we’ll find the perfect vehicle that fits your needs.

To make things even easier, we’ll even deliver your new car right to your home or office, so you can spend more time doing the things that matter.

Lowest Lease Prices

Our robust dealer network allows us to offer the most competitive prices available.

Your New Jersey One Stop Shop For Car Leasing

We will find you the right car, insure it, and if it becomes damaged in an accident, we can even pick it up from your location. Once repaired, we will deliver it back to you as good as new.

All Makes & Models

Shop all makes and models from the comfort of your own home. From Mini to Mercedes, we have special relationships with virtually every brand of dealer which allows us to offer the most competitive deals available.

Home Delivery

Never step foot in an automobile dealership. Your new vehicle is delivered right to your home or place of work.

Get Started Today With Your Personalized Quote!

Good credit, Bad Credit, or looking to get an approval, CONTACT US Today!  We work directly with multiple lenders to find the lowest possible lease rate on a new car lease. Come banks will even help us offer short term lease as short as 12 months if not ready to commit to a 2 or 3 year lease. We can even help you get out of your current car with our swapalease lease transfer program. when using our swapalease program, you will no longer be responsible for your current car.

Price Reflects TIER 1 Credit Approval. Prices are for new lease vehicles only. Images are for Display purposes only. Price Excludes local taxes, acquisition fee & DMV/title. Pricing, lease term, and miles per year may vary. All Incentives are Applied For Qualified Customers including Loyalty Rebate, Conquest Rebate, VPP Rebates, College Graduation Rebates, and Regional Rebates.

No need to deal with the headaches of sitting in a dealership for hours on end and haggling with pushy sales reps.  With our robust dealer network, we’re able to get wholesale pricing and guarantee the most competitive lease or purchase price on any new vehicle. We handle all makes and models, so you can be confident that we’ll find the perfect vehicle that fits your needs.

There are many places to lease or purchase your next vehicle.  The products are the same regardless of the source. So it’s the people who make the difference. Our staff is passionate about what we do. We are all car enthusiasts and understand your excitement about finding the right vehicle at the best possible terms. Along with our enthusiasm is our commitment to be transparent about your lease / purchase and our pledge that all dealings with us be fair, and yes, even fun!

At Vantage Auto Group, we save you time, money and peace of mind! No need to deal with the headaches of sitting in a dealership for hours on end and haggling with pushy sales reps. With our robust dealer network, we’re able to get wholesale pricing and guarantee the most competitive lease or purchase price on any new vehicle.

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