What are the hidden fees in a lease transfer?

When you’re thinking about performing a breaking your lease early by transferring a lease to someone else, or you’re wanting to take over someone else’s car lease, its important to know before hand any hidden costs and additional fees in the lease transfer process.

While there are typically two fees in a lease transfer process, its important to contact the leasing company to get the full details as each leasing company will have their own rules and policies. Continue reading “What are the hidden fees in a lease transfer?” »

Car leasing 201

Car leasing 201 in our leasing school bulids on the fundamentals you learned in car leasing 101. In leasing 101, you learned what is a car leas, the differences between leasing vs. buying a car, and what is a short term lease.

In leasing 201  we get into more detail about leases. This information will help you determine if leasing a car or taking over a car lease is right for you. You’ll learn about the advantages and disadvantages of leasing, what is a lease assumption, and the lease transfer process.

In leasing 201 you’ll learn more about…

  • Advantages of leasing
  • Disadvantages of leasing
  • What is lease assumption?
  • Transfer a lease
  • Take over a lease
  • Where to find a lease takeover
  • Leasing considerations
  • Your leasing checklist

Advantages of leasing a car

Auto leasing has its advantages. Leasing is a good alternative to acquiring a nwe or used vehicle over purchasing a new or used car. Unfortunately, leasing is not for everyone. Its up to you to decide if leasing is right for you, as the core advantages of leasing are driven from your personal feelings about vehicle ownership, and your financial situation. Continue reading “Advantages of leasing a car” »

Disadvantages of leasing a car

The biggest disadvantage of auto leasing is that you are committed to a lease contract for 24 to 48 months. Being locked into a set term can create risks for the consumer, primarily if the individual needs to get out of the lease before the lease term expires.

There are now options available that circumvent this core risk with leasing, by allowing people to actually transfer the remainder of their lease to someone else. These is known as a lease transfer or swap a lease or lease assumption, and is growing in popularity as not many individuals are aware of this option available.

Continue reading “Disadvantages of leasing a car” »

What is a lease assumption?

When individuals think ‘leasing’ its well known the first thing that comes to mind is being locked into a commitment over 3 to 5 years. What is not well-known, and growing in vast popularity, is the opportunity consumers have with lease assumptions. An auto lease assumption makes it possible to terminate an auto lease early through the process of transferring the lease to someone else, known as a short-term lease.

Lease assumptions are done by the individual who needs to transfer their auto lease to someone else seeking to take over the lease payments – for a few months or for the duration of the lease agreement. When someone assumes a lease, they are taking over the lease rights and responsibilities under the current term of the lease agreement.

Continue reading “What is a lease assumption?” »