Let's take a look at your options.
1. Check Your Eligibility
While many lenders have a transparent process to allow someone to assume the lease of another person, there are a few that don't offer a way to do it at all.
Unfortunately, not every car lease can be transferred to another party. While many lenders have a transparent process to allow someone to assume the lease of another person, there are a few that don't offer a way to do it at all.
Of the ones that do allow it, the terms and conditions that must be met to transfer a lease differ from one lender to the next. Unfortunately, there is no easy rule of thumb you can use to determine if you're eligible for this easy solution to terminating your lease early.
Other factors that can affect your lease transfer are the mileage on your car and how much of a down payment you made when you initially signed your agreement. Sometimes, you will have to make an offer of some kind to entice people to assume your lease. Any money you offer will lower the monthly payments for the new lease-holder.
The good news is that we’ve made it simple to get started— just enter the year, make, and model of your vehicle (along with the lender that financed your lease), and our team of experts can tell you what your eligibility is in just minutes.
2. List Your Vehicle
The next step is to create a listing for your car on Swapalease, which we make as easy as it can be.
Congratulations! Since you’re at step two, that means your lease is eligible for a transfer!
The next step is to create a listing for your car on Swapalease, which we make as easy as it can be. You’ll want to have a few pictures of your vehicle to put with your listing, showing the interior, exterior, and any other features you think will make it attractive to those that see your listing.
Along with your pictures, you'll write some simple text to describe your car. Remember, your goal is, to be honest, and transparent but still make your car enticing for people that want to assume a lease. Details like the condition of your vehicle, maintenance performed, and other information could be what pushes someone over the edge and gets them to contact you to discuss assuming your lease.
You’ll also need to list the current mileage on your car, and how many miles are left before the mileage exceeds the amount allowed by the lease, and any incentives you’re offering to make assuming your lease more appealing will be listed as well.
Once you give us the basic info on your car, we’ll create a listing that shows potential buyers exactly what it will cost them per month (including the lower payments that may come from offering an incentive) and other important details.
Once the work is done, it’s time to sit back and let Swapalease work its magic. Millions of people have successfully transferred their lease, helping not only themselves as they get out of a car lease, but also giving the other party a great deal on the exact vehicle they want.
Once someone has decided that your lease is the one they would like to assume, it’s time to move on to step three.
3. Lease Freedom!
The best part is that, by transferring your lease to another person, not only are you no longer tied down to your monthly lease payment, but you can avoid early termination penalties from your leaseholder.
This step is what you’ve been working toward, and now that someone wants to make a deal, it’s time to do just that.
There's little negotiation involved because the details are all included up-front in your listing. Someone may occasionally ask for an incentive (or a higher amount, if you've already offered one), but once both parties have reached an agreement, we make it very simple to complete the deal.
The best part is that, by transferring your lease to another person, not only are you no longer tied down to your monthly lease payment, but you can avoid early termination penalties from your leaseholder. Our team of experts has years of experience helping millions of people just like you to get out of a car lease, and we know all the tricks to keep your costs to a minimum.
Unfortunately, there are sometimes transfer fees that are unavoidable, but we know how to keep those as low as possible—plenty of our clients have had a lease transfer fee as low as just $50. However, even with a transfer fee, this is the most cost-effective way to end a lease before it comes to term.
