Why a Lease transfer?
15 February 2020
Breaking a vehicle lease can be extremely expensive. In fact, it can be a major expense if you need to get rid of your vehicle quickly for any reason. There is a very quick and inexpensive solution: the lease transfer.
The lease transfer is an alternative that deserves to be more widely known. More concretely, it consists in transferring your lease to another individual or a dealer to free you from all your obligations related to your lease. You will be no longer responsible for the vehicle.
However, you must be careful since you must report any accident incident or vehicle defect to the future buyer of the vehicle since the latter could take recourse against you as in any contract.
It is important to inform your car dealer when you want to proceed with a lease transfer since the new buyer must apply for credit and must be approved by the leasing company to take possession of your vehicle.
Car manufacturers charge a transfer fee, but this fee is considerably less than if you were to break your contract. In the latter case, you will be required to pay the balance of your contract in full. Whereas with lease transfer, the administration fee is significantly less expensive than thousands of dollars for a vehicle you want to get rid of.
Lease take over can be a beneficial solution if you want to change vehicles often. You can change vehicles depending on the season and maybe looking for lower payments, or if you need to go out of the country to work, you can get rid of the vehicle without breaking the contract.
Lease transfer is indeed the most advantageous and least expensive solution to get rid of a leased vehicle.
You want to transfer your lease quickly?
Transfer your lease with Lease it Express now!
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