The "Lease Seller" is the person offering their vehicle/lease for transfer. The basic process from listing the vehicle through completing lease transfer is outlined in How It Works.
Effectively Placing Your Ad Back to Top
The more accurate and complete your listing, the higher the likelihood that the buyers contacting you will be serious about your vehicle.
- Have your lease contract handy when listing – it contains important dates and details that will make the listing process easier.
- Include the "Lease-end Buyout" in your listing. The cost of purchasing the vehicle at lease end is an important consideration for buyers (if you are unsure about the amount for lease-end buyout, your leasing company can provide this information)
- Compare your lease deal with others on the site - you can add incentives to "sweeten the deal" if you feel that the lease you are offering is not competitive or if you need to make a quicker sale.
- Commonly used incentives include cash to the buyer, cash to cover excess mileage used or payment of transfer fees.
- Add information about incentives into "Additional Vehicle Info", then alert Swapalease, so that we can mark the listing with a "$".
- Accuracy is very important. If you don't have all the information when you first list, be sure to find and update your listing with the correct information.
- Check for information on your Leasing Company’s particular policies by clicking on the “Leasing Company Information”. This link can also be found on the left hand browse bar. Not all leasing companies support lease transfers, while others allow a transfer but continue to hold the original lessee liable for future payments. Familiarizing yourself with any restrictions, fees or policies (such as geographic restrictions) can save you time by not pursuing a buyer who cannot qualify for your lease. If you should have any questions, Swapalease would be happy to answer them. Back to Top
As always, if you have difficulties or questions at any time during the listing process, please "contact us" and we will be very happy to assist!
Keep Your Information Up to Date Back to Top
Keep your listing current by using your Manage Account feature to update mileage, More Info, and changes in your incentive offering.
Make Your Auto Stand Out Back to Top
Remember, your auto is one of several choices a prospective buyer may have for their next vehicle, so you need to make your auto as attractive as possible.
- Keep your auto in top running condition. Make all required service checks; take care of any service needs.
- Keep your auto exceptionally clean. A great appearance helps sell your car.
Tips for Making Contact with Buyer Back to Top
You will be contacted by buyers in one of two ways:
- "More Info" Requests – Customers will use the Swapalease internal e-mail to contact you for early stage questions about your vehicle. For example:
- Is this a non-smoking vehicle?
- Has the vehicle ever been in an accident?
- "Registered Buyers"
- These buyers have registered with Swapalease to gain access to your contact information (name, e-mail and phone number).
- Once they have reached this point, they are very serious about taking over your lease.
Most Important!!! - Respond Quickly to All Inquiries Back to Top
Respond to all buyer inquiries quickly. Back to Top
- Immediate response to all questions greatly increases your chance for success.
- Check your e-mail on a daily basis for messages from interest buyers.
- Please be courteous in your response.
Tips for Showing Your Vehicle and Negotiating a Deal Back to Top
Once you've been contacted by a registered buyer, the following are tips to help "sell" your vehicle and make the deal happen.
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Vehicle Condition Just as with any product a clean car "inside and out" will give a great first impression. Your vehicle should be kept in "Ready for Sale" condition.
- Lease Agreement and Service Records
Have copies of your lease agreement and service records available for buyer inspection.
This helps put the buyers mind at ease that the vehicle was well maintained and the paperwork is in order.
Remember – most dealerships and service centers can supply you you’re your records at no cost.
- Long Distance Transactions
If your lessor allows transfers to other states, there are inspection and transportation services to help bring longer-distance buyers and sellers together. Contact us for more information if you need help in this area.
What to Expect During the Lease Transfer Back to Top
Now that you have agreed to move forward with the registered buyer, the following are some tips on what to expect.
- Swapalease Support
Our dedicated and experienced staff are available by e-mail or phone to assist your with expediting the transfer process. Let us know how we can help.
- Documents Involved Every leasing company has different policies and paperwork for their transfer process. The typical documents involved are:
- Lease transfer agreement
- Odometer Statement
- Insurance verification
- Registration forms
- Others, depending on the individual circumstance
Finalizing the Transfer Back to Top
Each Leasing Company has their own policies regarding finalizing the lease transfer process. Some will require your signatures Notarized; others may require you to meet at an auto dealer or bank branch. Swapalease helps guide you through the process to make it as easy as possible for you.
Handing Over the Keys Back to Top
Once you and the buyer have completed the Leasing Company requirements for the lease transfer (i.e. signed the appropriate transfer documents, buyer has provided proof of insurance, both parties have paid the appropriate fees, and any other specific requirements of the leasing company), you’re now ready to hand over the keys to the new lessee.
Generally speaking, we recommend you as the Seller ensure all transfer documents are completed and are properly forwarded to the leasing company. It’s also prudent to confirm that the leasing company received and processed the transfer two weeks after you forwarded the documents.
License Plates/Registration Back to Top
Typically the license plates on the vehicle are the property of the leasing company and should remain on the vehicle. For the specifics of your state’s policies and for cross-state transfers, please contact the local Department of Motor Vehicles office or your leasing Company.
The Lease Buyer is the individual who will be taking over a vehicle lease. There are four basic steps in completing the "buying" process. For a step-by-step overview, please see How It Works.
Below are some tips for you to consider as you use Swapalease to find just the right vehicle lease for you!
Searching for a Vehicle Back to Top
Each Lease Buyer will have their own needs and preferences to consider. Some prefer a particular make/model of vehicle, while others are more interested in a specific number of months left in the lease, or a specific range of monthly payments, or miles allowed per month.
How to search – Swapalease is very flexible in providing you with the ability to search by location (click on vehicle search and provide state or zip code, then click the custom search button); you can then Sort Results by Year, Make of Auto, Monthly Payment, and Months Remaining by simply clicking on the Sort Results bar.
Notify me – If you don’t see what you are looking for, let us know! Click on the Notify Me button to tell us what you are looking for. We will let potential sellers know what autos people are looking for, and let you know when the auto that fits your needs is posted on the site!
Important! Check Leasing Company Policies – See an auto that particularly interests you? Click on the “Leasing Company” link on the left browse bar to see the specific requirements of the leasing company for the auto you’re interested in. Familiarizing yourself with fees or policies (such as geographic restrictions) can save you time by not pursuing an auto that you cannot qualify for.
Contacting Sellers Back to Top
There are two methods to contact sellers. You can find these two conveniently placed buttons at the bottom of each auto listing:
- "More Info" Requests – You may use a Swapalease internal e-mail system to contact sellers early in your search, to ask questions such as:
- Is this a non-smoking vehicle?
- Has the vehicle ever been in an accident?
- "Registered Buyers"
Once you are serious about pursuing an auto, register with Swapalease to gain access to the Seller’s contact information (name, e-mail and phone number). The Seller will also receive your contact information.
Note that your Buyer registration is good on multiple vehicles. If your initial vehicle doesn’t work out, you don’t need to re-register with Swapalease, simply contact another seller.
Now you can get together and discuss a deal.
Contacting Sellers Back to Top
You’ve found the auto that fits your needs – now what? Follow these easy steps and you’ll be on your way to a successful experience:
Contacting Sellers Back to Top
As a buyer, you will be assuming a lease contract. A good source of general information on leasing can be found at www.leaseguide.com; if you’re unfamiliar with leasing, we suggest you spend a few minutes at this site.
First thing you’ll need to do is to contact the Seller to arrange a meeting in at mutually convenient time and place to view the auto, the lease contract, and the service records. You should allow 45 minutes to an hour for this meeting; make sure when you call the Seller and ask that they bring the lease contract to the meeting.
The Lease Contract: All your rights and obligations are specified in the Lease Contract, so it’s important that you read and verify your understanding of the lease contract before finalizing a deal.
The Basic Terms of the Lease. Check the sellers contract for the ending date (the date the lease agreement ends); the total miles allowed, the cost per mile of additional miles beyond the standard allowance; the monthly payment; the end-of-lease terms, including the buy-out value (buying your leased auto at the end of the lease can be attractive), any end of lease disposition fees; excess wear and tear provisions; security deposit requirements.
The Vehicle: As with any auto purchase, take a good look at the condition of the vehicle. You will be responsible for the condition of the vehicle at lease end. Unless you’re mechanically inclined, we recommend you get the car checked by a third party; contact Swapalease if you’d like a recommendation for an inspection service. Verify that the current mileage on the odometer meets your expectations.
Additional Questions to Ask the Seller: If you haven’t already, now is the time to discuss any other questions that may be important to you, including confirming which person will pay the transfer fees, how you will handle security deposit transfer, etc.
Once you’re ready to move forward, and agreed with the Seller on a transfer, the Seller will contact Swapalease to let us know of your deal.
Remember, if you have any questions during the process, you can e-mail or call Swapalease; we’re here to help you!
The Credit Decision Back to Top
Credit decisions are the responsibility of the individual leasing company utilizing their unique credit decision criteria.
Finalizing the Transfer Back to Top
Each Leasing Company has their own policies regarding finalizing the lease transfer process. Some will require your signatures Notarized; others may require you to meet at an auto dealer or bank branch. Swapalease helps guide you through the process to make it as easy as possible for you.
Handing Over the Keys Back to Top
Once you and the seller have completed the Leasing Company requirements for the lease transfer ( ie signed the appropriate transfer documents, buyer has provided proof of insurance, both parties have paid the appropriate fees, and any other specific requirements of the leasing company) , you’re now ready to take over the keys to your new vehicle.
Generally speaking, we recommend the Seller ensure all transfer documents are completed and are properly forwarded to the leasing company.
As the Buyer, you should expect to begin receiving monthly lease payment statements. If you don’t receive your monthly statement by a week before the payment due date, please call your new leasing company to ensure your statement is being processed properly. Remember, it is your responsibility to make the lease payments.
License Plates/Registration Back to Top
Typically the license plates on the vehicle are the property of the leasing company and should remain on the vehicle. For the specifics of your state’s policies and for cross-state transfers, please contact the local Department of Motor Vehicles office or your leasing Company.
