Let’s say you took over a lease and either knew before, or discovered after the fact there is vehicle damage or excess wear and tear on the vehicle. Since vehicle damage and excess wear and tear is charged by the leasing company at the end of a car lease, then how can you protect yourself against damage you did not cause? There are basic tips you should know before taking over a car lease, buying out a car lease and even buying any vehicle from an individual or dealership.The best way to protect yourself before taking over the lease is to perform a thorough inspection of the vehicle. Before taking over the lease, and during the negotiations with the lease seller, have an independent inspection company from the original dealership perform the inspection. The inspector should inspect both the physical body condition and integrity of the vehicle, and if the car is mechanically solid. Consider the inspection report your figurative insurance before taking over the lease. If the inspection company finds concerns with the lease, you can then negotiate with the lease seller on how you want to proceed. Perhaps if there is some slight damage to the vehicle and the dealership advises you on the cost for this damage, you can negotiate with the original lease seller on a win-win solution, such as split the costs or have them offer X% of the fees that would have to be paid for the damage. Again, when a lease seller is learning how I can take over a car lease, these questions are points they need to ask.
Also when a lease buyer learns more about how can you get out of a car lease, they too should be aware of this and in their best interest, get the inspection done by the dealer so they have the inspection report ready to facilitate a fast and speedy lease transfer with any prospective lease buyer.
Remember too, when the leasing company dealership performs the inspection, they should have any mechanical reports available of previous work done on the car from any historical accidents. Ask for these including any maintenance and service records from the lease seller. If the car lease was under warranty, the dealer will have these records of any repairs and services performed. This will help assure the car has been maintained properly, and provided the transparency any lease buyer should know before taking over a car lease….and even buying out the car lease.
Ever take over a lease and have an experience to share? Comment below and spread some additional good Karma by clicking the Google +1 and Facebook like to spread the word.