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This is an excellent question we get from consumers who are learning the process of how to get out of your car lease, and an important point anyone who leases a car should ask before leasing.

Some leasing companies (the lessor) have this clause removed or relaxed from their policies. It’s an old-age policy that many leasing companies previously had, but have since most major leasing companies have changed. American and Canadian leasing companies as GMAC and other major leasing companies have removed and rid themselves of this old-age policy, however there are still some leasing companies who may still have this policy and due diligence should be asked with the leasing company and lease agreement. However, as the popularity of lease transfers and swap leases is exploding, more and more consumers who become lease busters will find that leasing companies will relinquish this as its in their best interest and customer service.  Continue reading “Am I responsible for a car lease after a lease transfer?” »

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The short answer is yes.

When someone wants to learn how you can get out of a car lease, one of the top questions they should check with their leasing company is if they’re lease agreement allows to swap a lease, and if yes (most do), then can a person who’s interested to take over a lease, buy the vehicle versus assuming the lease.

When an individual assumes a lease, their essentially going to take over a car lease for the remainder of the lease term on the lease agreement. This is better well known as a short term lease through a swap a lease process. Basically the original person who leased the car is going to transfer the vehicle and its lease to another individual. There are benefits on both sides. Continue reading “If I get out of a car lease, can someone buy the car vs. taking over the lease?” »