The time frame for lease transfer varies broadly from leasing company to leasing company. Some leasing companies can complete the process in as little as a week while others may take several. The timing is dependent upon three factors.
The first factor is the credit decision process, which generally takes 24 to 48 hours. The second factor entails creation and processing of the required lease transfer documents, which generally takes 3 to 5 business days.
Lastly mail and turnaround times must be included. Typically, figure on at least 7-14 business days to complete the entire process.
First, not all leases require security deposits. Each leasing company has their own policy for how to handle any security deposits during a lease transfer.
Some lease companies return the deposit to the original lessee and require a new deposit from the assuming lessee. Others allow the security deposit to transfer to the new lessee.
The disposition of any security deposit is often a point of negotiation between the Lease Seller and Lease Buyer as well.
You can edit your listing or update your contact information when you sign into your account.
You can edit your contact information if you want Lease Sellers to contact you at a different phone number of email address.
You can also change your lease listing information if you found you made an error, or want to add more features or offer a cash incentive.
You can also change your photos anytime and select which photos you prefer Lease Sellers to view.
AutoLeaseBreakers.com has zero hidden fees. We only charge the fee of listing the vehicle lease with Auto Lease Breakers. However, be aware of other online lease market places who have hidden fees. There is typically one hidden fee found with other lease swapping marketplaces, beyond charging lease buyers to register (a barrier for lease buyers).
This includes the nominal fees charged to facilitate the lease transfer process, and those fees required by the leasing company who holds the vehicle lease. Leasing company fees can include both credit application and lease transfer fees. Each leasing company has their own fee structure, and they vary broadly from one company to the next. However, be aware of lease swapping sites who have other hidden fees such as adding additional photos, adding additional vehicle lease details, and charging lease buyers to contact your lease advertisement.
As with any change of vehicle “ownership”, there may be vehicle licensing or registration fees required by your state. Policies and fees vary by state. The leasing company which holds the lease can advise you on how to manage these details, since technically they “own” the vehicle. Some states may require payment of taxes, in addition to the use tax normally included in monthly lease payments. These are a matter of policy in each state. AutoLeaseBreakers.com does not have expert knowledge of these taxes. If you are unsure about your state’s policies, you can check with the agency that handles taxes for your state, or ask a local auto dealer who should be able to advise you on how taxes are handled in vehicle purchase or lease transactions.
The Lease Seller starts the lease transfer process by listing in the lease swap marketplace of AutoLeaseBreakers.com.
Once the vehicle is made available in the marketplace, Lease Sellers actively looking to take over a lease will browse the available leases for for takeover, and contact you directly with any questions, requests for more photos, arrange a time to meet and check out the car, etc.
Once the lease seller and lease buyer discuss the details of the lease (for example, maintenance records, warranty details, is a cash incentive offered to take over the car lease, etc.) and the details have been worked out between both parties, the Lease Buyer or Seller will contact the leasing company to arrange a credit check is on the new Lease Buyer. If the leasing company validates the Lease Buyer is credit worthy, they will with the permission of the Lease Seller, initiate the administrative lease transfer paper work process between both parties.