What is the process of a car lease transfer?
A few major step involved with a lease assumption is finding an individual who wants to takeover a car lease. Once the buyer is found, he/she will need to submit a credit application to the lessor/finance company for eligibility to assume the lease. If approved by the finance company, relevant documents will be processed along with the respective fees charged by the finance companies for the transfer will be returned to the finance company. The transfer to the buyer will officially be recognized by the finance company upon confirmation of receipt of necessary documents.
