Tips for the Lease Seller
Effectively Placing Your Ad
Check your Leasing Company’s Policies
Keep Your Information Up to Date
Make Your Auto Stand Out
Tips for Making Contact with Buyers
Most Important!!! - Respond quickly to all inquiries
Tips for Showing Your Vehicle/Negotiating a Deal
What to Expect During the Lease Transfer
Finalizing the Transfer
Handing Over the Keys
License Plates/Registration
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Tips for
Lease Buyers
Searching for a Vehicle
Checking Leasing Company Policies
Contacting Sellers
Tips for evaluating the vehicle
Things to Look For
The Credit Decision
Finalizing the Transfer
Handing Over the Keys
License Plates/Registration
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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”.
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Effectively Placing Your Ad Back
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The more accurate and complete your listing, the higher the likelihood
that the buyers contacting you will be serious about your vehicle.
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Have your lease contract handy when listing – it contains important
dates and details that will make the listing process easier.
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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)
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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.
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Commonly used incentives include cash to the buyer, cash to
cover excess mileage used or payment of transfer fees.
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Add information about incentives into “Additional Vehicle Info”,
then alert Swapalease, so that we can mark the listing with a
“$”.
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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.
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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
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| 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!
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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.
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Make Your Auto Stand Out Back
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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.
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Keep your auto in top running condition. Make all required service
checks; take care of any service needs.
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Keep your auto exceptionally clean. A great appearance helps sell
your car.
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Tips for Making Contact with Buyers Back
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You will be contacted by buyers in one of two ways:
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“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?
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“Registered Buyers”
- These buyers have registered with Swapalease
and have submitted a credit application to gain
access to your contact information (name, e-mail
and phone number).
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Once they have reached this point, they are very serious about
taking over your lease.
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Most Important!!! - Respond quickly to all inquiries Back
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Respond to all buyer inquiries quickly.
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Immediate response to all questions greatly increases your chance for
success.
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Check your e-mail on a daily basis for messages from interest buyers.
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Please be courteous in your response.
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Tips for Showing Your Vehicle and Negotiating
a Deal Back
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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.
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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 east 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.
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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.
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What to Expect During the Lease Transfer Back
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Now that you have agreed to move forward with the registered buyer, the
following are some tips on what to expect.
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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.
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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
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Finalizing the Transfer Back
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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.
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Handing Over the Keys Back
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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.
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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.
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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!
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Searching for a Vehicle Back
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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.
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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.
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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!
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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. Back
to Top
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Contacting Sellers Back
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There are two methods to contact sellers. You can find these two
conveniently placed buttons at the bottom of each auto listing:
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“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?
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“Registered Buyers”
Once you are serious about pursuing an auto,
register with Swapalease and submit a credit application 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.
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Tips for evaluating the vehicle Back
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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:
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Things to look for Back
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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!
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The Credit Decision Back
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Credit decisions are the responsibility of the individual leasing
company utilizing their unique credit decision criteria. Swapalease
speeds up the credit decision process by forwarding your information on
your behalf to the leasing company so you get an answer quickly and
conveniently. Please inform Swapalease if you would like to include
another individual or note special circumstances.
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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.
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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.
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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.
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