Fees to Consider When Assuming a Lease

Lease 101

Fees to Consider When Assuming a Lease

The fees associated with lease assumption are relatively few and inexpensive. Here are the fees you need to consider:

Registration Fee – Some classified services (such as Swapalease.com) require a fee to begin a lease transfer.

Credit Application Fee - The leasing company that you are assuming a lease with may charge a credit application fee that may or may not be refundable. This varies by leasing company.

Vehicle Inspection - This charge is not necessary, but often recommended. A thorough vehicle inspection can be performed on a vehicle prior to lease assumption by a third party vehicle inspection service. Typically these services only cost around a hundred dollars and are well worth the investment.

Transportation - Not every lease transfer is going to require special transportation of the vehicle.

Vehicle Registration - Once you obtain the vehicle, you will need to register it, no differently than if you were to buy it outright. Contact your local Department of Motor Vehicles to determine what vehicle registration charges may be applicable in your area.

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