What is lease assumption?
A lease assumption, lease transfer or lease termination are all ways of saying the same thing – you are want to exit a lease early without paying huge penalties! By transferring a lease to another customer, you can walk away from your lease while the other customer assumes a lease. Assuming a lease is a great way for a new customer to get a vehicle with no money down and with a short lease term. Banks allow customers to transfer their lease by signing over the existing lease to another customer. This allows the lease agreement to be fulfilled while allowing you to exit a lease.
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Founded in 2000, Monrovia, CA-based TakeMyPayments.com has been the internet’s leading marketplace for lease transfers, trades & assumptions and has routinely expanded its services to promote lease transfers. The Company’s mission is to provide consumers with lease transfer advice and information to accomplish the most lease transfers possible. As a result of TakeMyPayments’ vision and growth, they have expanded their web presence into Canada and are now providing lease transfer solutions to automotive consumers as well. |
A lease transfer is a process of transferring a lease car to another through a process called a car lease assumption. The process of a vehicle lease assumption is very easy. In this process, a lease seller, someone who is looking to transfer out of a car lease early, can transfer the lease car and lease responsibility to a car lease buyer. The lease transfer or lease assumption process is legal with full knowledge and support of the original lease company. The lease transfer process is simple and straight-forward and is the most cost effective way to trade out of a vehicle lease early. While we’re hear to help you get out of a car lease, and take over a car lease, we’re also here to help educate you on the leasing process and some of the confusing leasing terminology that’s used by dealers and leasing companies.
