How do lease transfers work with the lease company?
The basic lease transfer process is relatively the same for all leasing companies. The individual wishing to assume the lease submits a credit application to the leasing company. The leasing company will make a decision on the credit worthiness of the applicant. If approved, lease transfer documents are prepared and sent to the new lessee for signature. Once signed, the lease contract is returned to the leasing company and processed. Once accepted by the lease company, the seller hands the vehicle over to the buyer and the transaction is complete.
The basic lease transfer process is relatively the same for all leasing companies. The individual wishing to take over the lease submits a credit application to the leasing company. The leasing company will make a decision on the credit worthiness of the applicant. If approved, lease transfer documents are prepared and sent to the new lessee for signature. Once signed, the lease contract is returned to the leasing company and processed. Once accepted by the lease company, the seller hands the vehicle over to the buyer and the transaction is complete.
