United States Canada

FAQ's for the Seller

How to list my vehicle with LeaseTrader
How to find my listing?
How to change information on my vehicle listing?
How to add your vehicle picture to your listing?
How to extend my vehicle listing?
How to cancel vehicle listing?
How to contact a LeaseTrader Representative?
Effective ad placing
Keep your information up to date
Make your auto stand out
Use the comments section wisely
Contacting buyers
Showing your vehicle

FAQ's for the Buyer

How to search for a vehicle at LeaseTrader?
How to register?
How to get pre approved to assume a lease?
How to use the wishlis?
How to change or add alerts to wishlist?
How to get my user id and or password information?
Contacting sellers
Evaluating the deal

Lease Transfers FAQ

How the lease transfer process works
How to find information on my leasing company
How to handle long distance lease transfers
How to get the vehicle inspected by a third party

Transferrring Process FAQ

What to expect during the lease transfer
Finalizing the transfer
Handing over the keys
License plates

General FAQ

What is LeaseTrader.com?
How does the Lease Trader process work
How long does the lease transfer process generally
Who can use LeaseTrader to transfer or assume a car
Can I be both a lease seller and a lease buyer with LeaseTrader
How does Lease Trader protect customer information
How often are listings updated
Are leases on the web site Open or Closed End Leases
Are Any of the vehicles Listed on LeaseTrader offered by Dealers
Do Leasing Companies allow lease transfers
What if I am in a different state
Can I use Lease Trader in Canada
When I search in the LeaseTrader website and I like a car what do I do
What are the costs in taking over a car lease
Do I have to give a down payment
Once I start the transfer process can I back out
Who pays for the transfer costs
Where do I return the vehicle
After the lease is over can I buy the vehicle
Can I extend this lease
What do I do if I forget my user ID and or password information?
Configuring IE security level
Make sure email goes to your Inbox Folder
Why take over a lease
What does regular leasing involve
Is it possible to terminate a lease prior to the full term of the contract
How does assuming or transferring a lease work
What are my chances on transferring my lease
How can I find information on my Leasing Company
What happens to the security deposit when a lease is transferred
What role does my Finance Company play
What happens to the security deposit when a lease is transferred
At lease end who is responsible for potential charges
Are buyers and sellers free to negotiate any of their own terms concerning lease transfers
How long does the lease transfer process take
When is the lease transfer final
Is it possible to transfer a lease to an individual who resides in a different state
Can the vehicle be inspected if buyer and seller are in different states
Where is the vehicle returned at lease end
How do sellers benefit using Lease Trader
Am I still held liable once the lease has been transferred
What are the fees involved in a lease transfer
What are my options if I want to end my lease
What are my responsibilities at the end of the lease
What are my responsibilities for vehicle maintenance
What are my responsibilities for vehicle insurance?
Am I responsible for personal property tax on my leased vehicle
Who is responsible for moving violations
What happens when I drive more miles than is stated in my Lease Agreement
How do I get license plates
Who pays for license plates
Can I take my leased vehicle out of the continental United States
What happens if tax rates change
What happens if I move out of state
What happens if I my vehicle is wrecked but not declared a total loss
If I decide to return my vehicle at the end of my lease, who do I contact
What do I do if I haven't received a payment booklet



How to list my vehicle with LeaseTrader
 
To list your vehicle, simply click on Post A Vehicle from any page on the site. From there you will be led through a three-step listing process where we will collect contact information, car information and details on your car lease. At the end of the listing process, a fee corresponding to the listing package you selected is collected by credit card. If you have any questions or difficulties during the listing process, please Contact Us for assistance.

Before listing your auto lease, you will want to have or know the following:

1. Contact information you will use for communicating with LeaseTrader.com and Buyers including name, address, phone numbers, and email.

2. Information about the vehicle Including year, make, model, style, features, current mileage.

3. Details of the lease including leasing company, monthly payment, approximate lease end date (your lease contract is a good source for these details).

Additional Tips:
Remember to think like a buyer when posting your vehicle, because buyers are only interested in taking over a lease for a vehicle that fits their needs. Analyze your current lease and emphasize the benefits of your deal. For example, if you have a low monthly payment, low mileage or low months remaining on the lease deal, make sure you highlight those points.

Communicate with the Buyer:
When a potential buyer contacts you, be sure to respond in a timely manner. There are lots of great deals on LeaseTrader.com, and if you are slow to respond you run the risk of a buyer finding a vehicle from a different seller. Once the buyer begins the transfer process, follow the steps in a timely manner. Contact your lease transfer specialist with any questions.

How to find my listing
 
There are two ways for a Seller to view their vehicle listing. You can Sign-In with the username and password chosen when creating your account. This will take you to an Account Management area. From there you can select view listing to see your ad. You can also go directly to your ad by clicking on Vehicle Search and enter your LeaseTrader Vehicle ID into the appropriate area on that page.

How to change information on my vehicle listing or account
 
You can edit your listing or update your contact information when you Sign-In with the username and password chosen when creating your account. Once on My LeaseTrader go to Seller Central and click on the Edit Vehicle tab. Simply change any details and press on the submit button at the bottom of the page. The process follows the same steps you followed when you first entered your information.

To update your contact information, go to the Profile section in My LeaseTrader and make any changes required and click on save. Remember always to press on the buton below so that the changes are saved.

How to add your own picture to your listing
 
Everyone knows that ads with actual photos are more likely to get a response. So put the best pictures, add up to 9 photos to your listing, and watch the responses pour in. Add Now!
Read these tips to learn how to post the best pictures possible.
All photos are subject to rejection or removal.
Show photos of your car from different angles including the interior.
You're more likely to get responses by posting more than one photo.
Use a current picture.
Do not post old photos. If you don't have a recent photo, ask a friend with a digital camera to shoot one.
Choose a quality photo.
A close-up photo is much more interesting than a blurry or far-away image. Take the time to find a clear, well-lit picture. If you have received an email that your ad or photos have been rejected, please make sure you review our Listing Agreement. Our most common reasons for rejecting ads are:

.Ad text contains personal contact information, a first and last name, email address, or a link (URL)
.Ad text contains obscene, offensive, or adult-oriented language
.Ad solicits for a commercial service

If you need assistance determining why your ad was rejected, you can contact us. Please note that due to the high volume of submissions it may take several days to receive a response to your inquiry. Our most common reasons for rejecting photos are:
.Photo is blurry or otherwise unclear
.Photo contains obscene or adult-oriented material
.Photo contains personal contact information
.Photo is upside-down

How to extend my vehicle listing
 
Your listing package is automatically renewed. Whether it is every month or every six months you need to let us know that you want your add cancelled before your listing expires so that you don't get billed.

How to cancel a vehicle listing
 
Contac Us, we can deactivate the listing for you. Please reference your vehicle id and name when emailing.

How to contact a LeaseTrader Representative
 
Customer service is our main priority at LeaseTrader. You can contact us by phone or email with questions, concerns and feedback. Please see the Contact Us page for a complete listing of phone numbers and email addresses.

Effective Ad placing
 

The more accurate and complete your listing, the higher the likelihood that the buyers contacting you will be serious about your vehicle.

  • Have your lease contract handy when listing it contains important dates and details that will make the listing process easier.

  • Include the Lease-end Buyout or "Residual Value" in your listing. The cost of purchasing the vehicle at lease end is an important consideration for buyers (if you are unsure about the amount for lease-end buyout, your leasing company can provide this information)

  • Compare your lease deal with others on the site to make sure you are offering is competitive.

    • Accuracy is very important. If you dont have all the information when you first list, be sure to find and update your listing with the correct information.

    • Check for information on your Leasing Companys particular policies by clicking on the Leasing Company Information. This link can also be found on the left hand browse bar. Not all leasing companies support lease transfers, while others allow a transfer but continue to hold the original lessee liable for future payments. Familiarizing yourself with any restrictions, fees or policies (such as geographic restrictions) can save you time by not pursuing a buyer who cannot qualify for your lease. If you should have any questions, LeaseTrader would be happy to answer them.

As always, if you have difficulties or questions at any time during the listing process, please Contact Us and we will be very happy to assist!


Keep Your Information Up to Date
 

Keep your listing current by using your Seller Central to update mileage and your lease information.


Make Your Auto Stand Out
 

Remember, your auto is one of several choices a prospective buyer may have for their next vehicle, so you need to make your auto as attractive as possible. As far as the overall condition of the car you need to:

Keep your auto in top running condition. Make all required service checks; take care of any service needs.

Keep your auto exceptionally clean. A great appearance helps sell your car.

Increase Your Ad's Visibility

Explore the many listing upgrades that can help your item stand out from the crowd. Choose the options that are right for you. Check LeaseTrader's Marketing Tools to see what you can do differently so that your ad creates interest and is seen as much as possible.  We have a programs that have been successful in getting leases transferred !!! To take a look at these exciting marketing options Click Here.


Use the Comments Section Wisely
 
Be clear, complete, and descriptive. Your comments should include anything that was not included in the questionaire you had to fill out when posting your car lease. If the car has any special features this is the place where you should let potential buyers know about them.
Start with these tips:Use descriptive keywords that clearly convey why you are selling. Include any special features that make your car different from others and buyers will recognize.
Think as a buyer and include relevant terms and words.
Buyers don't care for words like "wow" or "look" so make intelligent use of your space.

Contacting buyers
 
You will be contacted by buyers in one of two ways:
More Info Requests
Customers will use the LeaseTrader internal e-mail to contact sellers for early stage questions about the vehicle. For example:
. Is this a non-smoking vehicle?
. Has the vehicle ever been in an accident?
We relay these questions to you so that you complete your information accurately
Registered Buyers
These buyers have registered with LeaseTrader. Some have submitted a credit application so you'll be able to see their rating as take-over candidates.
Before releasing their information to sellers we call them to see if they are serious about taking over your lease.
Respond quickly to all inquiries
Immediate response to all questions greatly increases your chance for success.
Check your e-mail on a daily basis for messages from interested buyers.
Please be courteous in your response.

Showing your vehicle
 

Once youve been contacted by a registered buyer, the following are tips to help sell your vehicle and make the deal happen.

  • Vehicle Condition
    Just as with any product a clean car inside and out will give a great first impression. Your vehicle should be kept in Ready for Sale condition.

  • Lease Agreement and Service Records
    Have copies of your lease agreement and service records available for buyer inspection.

    This helps put the buyers mind at ease that the vehicle was well maintained and the paperwork is in order.

    Remember most dealerships and service centers can supply you youre your records at no cost.

  • Long Distance Transactions
    If your lessor allows transfers to other states, there are inspection and transportation services to help bring longer-distance buyers and sellers together. Contact us for more information if you need help in this area.

FAQ's for the Buyer

How to search for a vehicle at LeaseTrader
 
There are various ways to search for a vehicle at LeaseTrader:

1. Go to Search Listings and use either the simple or advanced search options.
1. Use the "Featured Listings" or "Hot Deals" module in our Home Page.
2. Use the "Search by Category" or "Search by Make" located in the Research module.

How to Register
 
Simply click on the "First-time user" button on the Home Page and follow the instructions. If you want to begin your registration now Click Here

How to get pre approved to assume a lease
 
If you are looking to assume a lease this is something you might want to consider doing. When sellers look into the list of contacts we provide, they will be able to see the rating you got. This could potentially increase your chances of getting the car lease you applied for. To get pre-approval you simply Click Here to submit a credit application or log in, then click on "Credit Application" on the navigation bar.

How to use the wishlis
 
I you were unable to find exactly what you were looking for, make sure you use this feature. The "Wishlist" is designed to automatically let you know when the car or cars you are looking for are posted in our website. To begin using the "Wishlist" Click Here or log in and click on "Wishlist" in the navigation bar.

How to change or add alerts to wishlist?
 
If at any point in time you feel you need to change or add more cars to your wish list you need to log in and then go to "Wishlist" in the navigation bar.

How to get my user id and or password information
 
From the Sign-In area you can click on Forgot Password? to request your username and password. Just enter the email address you have included in your LeaseTrader account, and the username and password will be emailed to you. If you have any difficulty obtaining the username and/or password, please Contact Us.

Contacting Sellers
 

There are two methods to contact sellers. You can find these two conveniently placed buttons at the bottom of each auto listing:

    More Info Requests

    You may use a LeaseTrader internal e-mail system to contact sellers early in your search, to ask questions that are not answered by the information provided on the listing or about information missing on the listing such as:
    What is the current mileage on the car ?
    What is the Residual value or buyout price of the car?

    Registered Buyers

    Once you are serious about pursuing an auto, register with LeaseTrader.
    We suggest also that you submit a credit application so that the seller is able to decide which potential buyer to choose to transfer the lease to as they will see whether or not you are a good take-over candidate.
    Note that your Buyer registration is good on multiple vehicles.
    If your initial vehicle doesnt work out, you dont need to re-register with LeaseTrader, simply contact another seller.


Evaluating the deal
 

Youve found the auto that fits your needs now what?

Follow these easy steps and youll be on your way to a successful experience: As a buyer, you will be assuming a lease contract.
First thing youll need to do is to contact the Seller to arrange a meeting in at mutually convenient time and place to view the auto, the lease contract, and the service records. You should allow 45 minutes to an hour for this meeting; make sure when you call the Seller and ask that they bring the lease contract to the meeting.

The Lease Contract: All your rights and obligations are specified in the Lease Contract, so its important that you read and verify your understanding of the lease contract before finalizing a deal.

The Basic Terms of the Lease: Check the sellers contract for the ending date (the date the lease agreement ends); the total miles allowed, the cost per mile of additional miles beyond the standard allowance; the monthly payment; the end-of-lease terms, including the buy-out value (buying your leased auto at the end of the lease can be attractive), any end of lease disposition fees; excess wear and tear provisions; security deposit requirements.

The Vehicle: As with any auto purchase, take a good look at the condition of the vehicle. You will be responsible for the condition of the vehicle at lease end. Unless youre mechanically inclined, we recommend you get the car checked by a third party; contact LeaseTrader if youd like a recommendation for an inspection service. Verify that the current mileage on the odometer meets your expectations.

Additional Questions to Ask the Seller: If you havent already, now is the time to discuss any other questions that may be important to you, including confirming which person will pay the transfer fees, how you will handle security deposit transfer, etc.

Once youre ready to move forward, and agreed with the Seller on a transfer, the Seller will contact LeaseTrader to let us know of your deal.

LeaseTrader will contact you to verify that you do indeed want to proceed. After you verify yes, LeaseTrader will submit your credit information to the financial institution for their credit decision.

Remember, if you have any questions during the process, you can e-mail or call LeaseTrader; were here to help you!


Lease Transfers FAQ

How the lease transfer process works
 
To Transfer or Assume a Car Lease with LeaseTrader is Easy and Simple

There are 6 major steps in the process:

Let's walk through each step in a little more detail to clarify the process.

Step 1: A Seller will list their vehicle in LeaseTrader.com
If you are looking to trade out of your car lease, you register with us and create your listing in the LeaseTrader.com website. This is a quick process that involves providing LeaseTrader with some important information about your vehicle and your car lease. Please have a copy of your car lease handy before you input your listing.

Step 2: A Buyer will select a vehicle that they would like
Buyers search, find, review and select the vehicle listings LeaseTrader actively markets our service in places where people looking to buy or lease cars regularly go; including google, yahoo, msn and multiple others. These potential lease buyers come to the LeaseTrader website looking for the vehicle that best meets their needs.

Step 3: The Buyer will then need to verify that they are credit worthy
Buyers search, find, review and select the vehicle listings.
People looking to take over car leases review the listings in the Marketplace and communicate with the seller using the Contact Seller button found in each listing. Common questions include "where exactly is the vehicle located?" and "will you split the car lease transfer fee?” LeaseTrader screens these messages rather than direct communication between the seller and buyers to prevent the seller from having to answer questions that have nothing to do with taking over a car lease. Once all questions or concerns are answered, the seller and buyer can now on moving forward with the transfer of the auto lease.

Step 4: The Buyer may then contact the seller directly
Seller and buyers communicate with each other.
Common questions include "where exactly is the vehicle located?" and "will you split the car lease transfer fee? Once all questions or concerns are answered, the seller and buyer are ready to move forward with the transfer.

Step 5: Once Buyer and Seller agree to transfer, the transfer documents are sent to both parties to sign and complete the transfer
Documentation Transfer:
Once approved by the Finance Company, LeaseTrader will have the transfer documents sent to both parties to sign and complete the transfer. These are the official contractual documents that finalize the transfer of the car lease. The documents normally first go to the seller, who signs them and then forwards them to the buyer. The buyer now signs and sends the documents back for processing. The completed transfer documents will then be sent to the seller as well as to the buyer. The buyer needs to take part of these documents to the local Department of Motor Vehicles to pick up license plates and other registration items (these processes vary by state).

Step 6: Vehicle Transfer, once the documents are completed the Seller may now transfer the vehicle to the Buyer and the deal is done!
The buyer can now take possession of the car and the deal is done!
If the buyer and seller are not located near each other, the vehicle can be transported using one of LeaseTrader's shipping partners.

The deal is done!

How to find information on my leasing company
 
LeaseTrader has included the basic lease transfer policies for many leasing companies within Leasing Company Information on this site. If the company you are looking for is not listed please Contact Us, and we'll be happy to get you more information.

How to handle long distance lease transfers
 
When a long distance separates the Buyer and Seller, normally arrangements to inspect the vehicle and get it to the Buyer are worked out between the parties involved. We have seen many different arrangements work, ranging from the Buyer or Seller driving to meet each other, having the vehicle inspected by a dealer or mechanic and having the vehicle transported by a shipping service. If you are interested in getting your vehicle inspected or having it shipped, please contact us via phone or email and we will set you up with the service. For more info, go to the services page.

How to get the vehicle inspected by a third party
 
If you need to have the car inspected by a third party you can go into our Services section where you will find a company that we recommend.

Transferring FAQ

What to Expect During the Lease Transfer
 
Now that you have agreed to move forward with the registered buyer, the following are some tips on what to expect.

LeaseTrader Support
Our dedicated and experienced staff are available by e-mail or phone to assist your with expediting the transfer process. Let us know how we can help.

Documents Involved
Every leasing company has different policies and paperwork for their transfer process. The typical documents involved are: . Lease transfer agreement
. Odometer Statement
. Insurance verification
. Registration forms
. Others, depending on the individual circumstance

Finalizing the Transfer
 

Each Leasing Company has their own policies regarding finalizing the lease transfer process. Some will require your signatures Notarized; others may require you to meet at an auto dealer or bank branch. LeaseTrader helps guide you through the process to make it as easy as possible for you.


Handing Over the Keys
 

Once Seller and Buyer have completed the Leasing Company requirements for the lease transfer (i.e. signed the appropriate transfer documents, buyer has provided proof of insurance, both parties have paid the appropriate fees, and any other specific requirements of the leasing company), youre now ready to hand over the keys to the new lessee.

Generally speaking, we recommend the Seller ensure all transfer documents are completed and are properly forwarded to the leasing company. Its also prudent to confirm that the leasing company received and processed the transfer two weeks after you forwarded the documents.

As the Buyer, you should expect to begin receiving monthly lease payment statements. If you dont receive your monthly statement by a week before the payment due date, please call your new leasing company to ensure your statement is being processed properly. Remember, it is your responsibility to make the lease payments.


License Plates
 

Typically the license plates on the vehicle are the property of the leasing company and should remain on the vehicle. For the specifics of your states policies and for cross-state transfers, please contact the local Department of Motor Vehicles office or your leasing Company.


General FAQ

What is LeaseTrader.com
 
LeaseTrader.com is the first full-service online auto lease transfer marketplace of vehicle leases. We match individuals who are currently leasing vehicles and wish to get out, with individuals who are looking for short-term leases with attractive payments and no money down.


How does the LeaseTrader process work
 
LeaseTrader allows Lease Sellers to offer their leases for assumption online where potential Lease Buyers can view them and make contact with them. Please visit How it Works for a detail step-by-step process.


How long does the lease transfer process generally take
 

Some leasing companies can complete the process in as little as one day while others may take several business days. How long it takes depends on a few things. First is the credit application approval process, which generally takes 24 to 72 hours. The second factor entails the creation and processing of the required lease transfer documents, which generally takes 3 to 5 business days. Lastly mail and paperwork turnaround times must also be taken into consideration. Typically, it takes between 7 to 14 business days to complete the entire process. If youd like information on the typical time frame for a specific leasing company, please Contact Us and we will be happy to share our experiences with you.


Who can use LeaseTrader to Transfer or Assume a Car Lease
 
As a Seller: Anyone who is currently leasing a car, truck, van or SUV's, whose leasing company allows car lease transfers or car lease assumptions, can use LeaseTrader to "transfer" their lease. If you have any questions about whether or not your leasing company allows lease transfers, you may verify your leasing company information at this site, calling your lease company directly or by Contacting Us, and we'll be happy to assist.
As a Buyer: Anyone looking for a great short term car lease on a late-model used car, can Search LeaseTrader.


Can I be both a Lease Seller and a Lease Buyer with LeaseTrader
 
By being both a Buyer and a Seller with LeaseTrader, you can take full advantage of what we offer. You can monitor all of your account activity in one place, using a single username and password. A good place to start is in MyLeaseTrader, and then go to either Seller Central, Buyer Central or Profile, to view, edit and manage your accounts.
 


How does LeaseTrader protect customer information
 

LeaseTrader protects customer information by using state of the art 128-bit Secure Socket Layer(SSL) encryption supplied by Verisign.


How often are the listings updated
 

The listings are updated in real time at LeaseTrader. When Sellers list their vehicles, they appear immediately on the website. When Sellers make any changes or add missing information to their listing it appears as soon as they save the information in our website.


Are the leases on the web site Open or Closed End Leases
 

Most leases, if not all of the vehicles listed on LeaseTrader.com are closed-end leases.


Are Any of the vehicles Listed on LeaseTrader offered by Dealers
 

Most of the vehicles listed in LeaseTrader.com are being offered by the original lease holders looking to get out of their car lease.


Do Leasing Companies allow lease transfers
 

Most leasing companies allow car lease transfers, however very few do not, and some have specific restrictions. Call a LeaseTrader Transfer Specialist or your Leasing Company to find out their policies regarding car lease transfers or lease assumptions.
Nearly all leasing companies allow car lease transfers; however none of them actively promote or advertise this service. Time and costs associated with the car lease transfer to the Leasing Companies is one of the reasons why.
Please remember that Lease Transfer or Lease Assumption is NOT a sublease since a sublease is NOT allowed by leasing companies and is in fact illegal in many states.
LeaseTrader does not advocate subleasing in any way whatsoever, and the LeaseTrader Marketplace is not to be used for the advertising or seeking of subleases.  
LeaseTraders Lease Transfer is a true transfer of equity, done by the leasing company, with full contractual coverage by all of the parties involved.

 


What if I am in a different state
 

A great number of transfers are between people in different states. We work with a national transportation company that delivers the vehicle to your location. You can negotiate with the owner as to who pays any costs involved. For more info on this, visit our Services section.


Can I use LeaseTrader in Canada
 

We are pleased to inform that we are now accepting Canadian listings. We have received a lot of interest from Canadian lessees and lease buyers.


When I search in the LeaseTrader website and I like a car what do I do
 

Click where it says "Make an Offer" if you would like to make an offer on the lease or if you simply like to assume the lease Click where it says "Contact Seller" Log in if you are a registered user or create a new account. Complete the credit application if you would like to get pre-approved. You will be contacted within 24 hours with the results.


What are the costs in taking over a car lease
 

Initial Credit Application Fee: The cost to join our buyer programs varies from 39.95.95 to $129.95. The buyer programs include 1 credit verification and up to a 180 days of membership. The buyer program provides you with information and lots of tools to expedite, enhance and facilitate your lease transfer experience. LeaseTrader is available to assist you with the entire lease transfer process, In addition to the membership, a $249.95 Non-Refundable transfer initiation fee ( * $149.95 after rebate) for services already rendered is due once the buyer and seller agree to initiate the 2 to 3 week long (on average) lease transfer process.

*Transfer Rebate: $100.00 LeaseTrader offers the buyer an instant Transfer Rebate of $100.00 (One Hundred Dollar) to be applied automatically once the payment of the transfer initiation fee is made at the initiation of the lease transfer process. Note: Failure to pay the transfer initiation fee at the initiation of the lease transfer process will result in forfeiting any and all discounts and rebates offered by LeaseTrader.
Leasing fees: Most financial Institutions charge a fee to process the car lease transfer paperwork. This fee varies from $0-$650 and is payable directly to the Finance Institution (e.g. Mercedes Benz Credit). You can negotiate with the person transferring the lease as to who pays any fees involved.
Other: If you are in a different state, there may be transportation and optional third party inspection costs. You can negotiate with the person transferring the car lease as to who pays these fees. For more info on this, visit our Services section.


Do I have to give a down payment
 

No. That's one of the advantages of taking-over a car lease. You simply continue to pay the monthly car lease payments until the lease term ends.


Once Once I start the transfer process can I back out
 

Yes, up until the final transfer documentation is signed you can back out at any time. Note that any fees collected by LeaseTrader are non-refundable if you decide to stop a transfer once the transfer process has begun.


Who pays for the transfer costs
 

You can negotiate with the person transferring the lease as to who pays any costs involved.


Where do I return the vehicle
 

In most cases you can return the vehicle once the lease is up at a dealership in YOUR area. This is the case even if you take-over a lease from a different state.


After the lease is over can I buy the vehicle
 

Yes, most leases have a purchase option. The amount to be paid will be specified in the contract (residual value or lease end buyout). If this info is not displayed in the listing, you may send an e-mail to customersupport@leasetrader.com. You must include the listing number in your correspondence.


Can I extend this lease
 

Most Leasing Companies will let you extend the lease term. However, it all depends on the original lease agreement and what the Leasing Company decides to do. For more details please contact the Leasing Company.


What do I do if I forget my user ID and or password information?
 

From the Sign-In area you can click on Forgot Password? to request your username and password. Just enter the email address you have included in your LeaseTrader account, and the username and password will be emailed to you. If you have any difficulty obtaining the username and/or password, please Contact Us.




1. Click "Tools" on the main menu of your Internet Explorer window

2. Click on "Internet Options..." to open the corresponding dialog




3. Click on the "Security" tab. Here you will find all the information on your browser's security level

4. Click on "Default Level". This will set the default security settings on your browser




As you can see, your security level is now set to "Medium", which is the appropriate for most Internet sites (you can see all settings below the "Medium" title).

5. Click on "Apply"

6. Click on "OK"




7. Click the "Refresh" icon on the Internet Explorer toolbar.

You are now ready to use our site!

Select your Email Provider, in order to give you specific instructions:







 
AOL
AOL software:
1. Go to AOL® Keyword: Spam Folder.
2. Select the e-mail you want to retrieve, then click the This is Not Spam button.
AOL Mail on the Web:
1. Go to http://webmail.aol.com.
2. Enter your screen name and password, then click the Sign On button.
3. Click the Spam link.
4. Click the box next to the e-mail you wish to retrieve to place a check mark in it.
5. Click the This is Not Spam button.
 
Gmail
1. Go to your Spam mailbox.
2. Tick the box next to the sender's name.
3. Click "Not Spam" at the top of your Spam mailbox.
 
MSN Hotmail
1. Go to your Junk E-mail folder.
2. Open the message you want to retrieve.
3. Click the "Not Junk E-mail" button at the top of your mailbox.
 
Yahoo
1. Go to your Bulk Folder.
2. Open the message you want to retrieve.
3. Click the "Not Spam" button.

Why take over a lease
 

Save thousands of dollars - You simply take-over someone else's monthly car lease payments for the time remaining on the lease. No down payments required. E.g. Someone gave a $3500 down payment on a BMW lease to lower the car lease payments to $349 per month. When you take-over the lease, you simply continue paying the $349 until the end of the lease. You do not have to pay the $3500 down payment.
More car more often - Taking over a lease gives you flexibility to lease a vehicle for a short amount of time . Even for a year if you like without the long term commitment.


What does regular leasing involve
 

A longer term commitment. Usually 36, 48, or 60 months (5 years).
Down payment. In many vehicles there is usually a down payment involved which you do not get back when the car lease is over.
Negotiating with a dealer. You have to negotiate the purchase price of the vehicle, the term of the lease, the excess mileage charge, and the interest rate included in the lease payment. This is something that a lot of us try to stay away from.
In both auto leasing and taking-over a car lease, the lease can generally be extended and you have to make sure not to exceed the mileage allowance on the car lease and not exceed normal wear and tear on the vehicle.


Is it possible to terminate a lease prior to the full term of the contract
 

Yes, it is possible to terminate most car leases prior to the scheduled end date, however there are normally significant financial implications to the lessee when doing so. Each leasing company has their own policies, but most will charge some form of early termination penalty. It is not unusual for these charges to be in excess of several thousand dollars. This makes transferring a car lease through LeaseTrader such a valuable service.


How does assuming or transferring a lease work
 

The car lease transfer process is almost the same for most 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 signed by the original and assuming lessees. The transfer is complete when the signed documents are returned to the leasing company and processed. There are variations in the fees and details for each leasing company. The LeaseTrader Team is on board to assist with these variations and details as you navigate through the car lease transfer process.


What are my chances on transferring my lease
 

Although we cannot give any guarantees, we have a constantly updated waiting list of individuals looking to take-over leases. We tend to receive various applications per vehicle. People nationwide search our listings and constantly fill out Wish Lists. LeaseTrader's patent pending system automatically notifies all the people who requested your vehicle the second you put it online.


How can I find information on my leasing company
 

LeaseTrader has included the basic lease transfer policies for many leasing companies within Leasing Company Information on this site. If the company you are looking for is not listed please Contact Us, and we'll be happy to get you more information.
 


What role does my Finance Company play
 

Independent of our pre-screening process, all of the lease transfers require the approval of the Finance Company involved in each particular lease (e.g. Wells Fargo Finance). Most Finance Companies charge separate fees in connection with transferring a car lease. The individual taking over your car lease typically pays these fees. These fees range from $0- $650.00.  To this end, since we usually receive various applications per listing, we require candidates to undergo a pre-screening process to determine who is the most suitable to take-over candidate for your lease. These candidates may undergo a credit check and pay a $24.95 to LeaseTrader.


What happens to the security deposit when a lease is transferred
 

Each leasing company has their own policy for how to handle security deposits during a lease assumption. Most transfer the security deposit to the assuming lessee, while others return the deposit to the original lessee and require a new deposit from the assuming lessee. Some of them did not require a security deposit to begin with. Information on how leasing companies handle security deposits is included within Lease Company Information.


At lease end who is responsible for potential charges
 

The individual assuming the lease, will be responsible for the lease-end terms as stated in the original lease contract. Lease-end charges may include disposition fees, excess mileage fees and excess wear & tear assessments. All potential lease-end charges will be outlined in the original lease document. The Lease Buyer would be responsible for any termination charges, or disposition fees at lease end.


Are buyers and sellers free to negotiate any of their own terms concerning lease transfers
 

Normally the terms of the lease, including monthly payment amount, mileage allowed and lease-end date remain fixed and are controlled by the leasing company. However, the Buyer and Seller of a lease are free to negotiate the details of the car lease transfer, as long as they do not interfere with the rules set forth by the lease agreement or are in violation of any laws. A common example of a negotiable item is who will pay the leasing company's transfer fees, transportation fees, inspection fees etc. These agreements are made between the individual Buyer and Seller, therefore LeaseTrader does not have any control over the items being negotiated and assumes no responsibility for such agreements.


How long does the lease transfer process take
 

It generally takes about three weeks to get all the documentation processed. LeaseTrader offers a service to expedite the lease transfer process. Contact our Lease Trader Transfer team to find out more about this service, at 1-800-770-0207 Mon-Fri 9 AM to 6:30 Pm EST.


When is the lease transfer final
 

The lease transfer process is final when the leasing company receives all required lease transfer documents and fees for the transaction. LeaseTrader will advise you on how to complete the necessary documents and when to submit the fees in each situation. LeaseTrader will be happy to share our transferring experience with the procedures of all major leasing company's , please Contact Us with any questions or concerns you may have.


Is it possible to transfer a lease to an individual who resides in a different state
 

A great number of transfers are between people in different States. Some restrictions on lease transfers are set by the particular leasing company involved.
Restrictions for each leasing company may be included in Lease Company Information.
You can negotiate with the person taking over the lease as to who pays any costs involved in transporting the vehicle to another state. Check out our Services section for more details.


Can the vehicle be inspected if buyer and seller are in different states
 

Arrangements to inspect the vehicle and get the report to the Buyer are worked out between the two parties involved. The vehicle may be inspected by a dealer or mechanic. If you are interested in getting your vehicle inspected by a third party please contact us via phone or email and we will set you up with an inspection service provider that we recommend. For more info, go to the Services section of our website.
 


Where is the vehicle returned at lease end
 

Each leasing company has their own return policies. Some allow you to return the vehicle to the local authorized dealer, others have their own policies.


How do sellers benefit using Lease Trader
 

Car Lease Sellers can save money by having someone assume their car lease, instead of the other early lease termination alternatives which are a lot more expensive.


Am I still held liable once the lease has been transferred
 

Whether or not the original lessee is liable once the lease is transferred depends on the leasing company involved. Some leasing companies completely remove the first individual from the account and some choose to leave the original lessee's name in the lease contract as a guarantor. When the original leaseholder is removed, the lease transfer is typically referred to as a "lease assumption". You may find details on the liability policy for many leasing companies within Lease Company Information. If you dont find information for your leasing company, or would like more specific details, you should contact your leasing company.
 


What are the fees involved in a lease transfer
 

There are two kinds fees involved in transferring a car lease with LeaseTrader.
The fees charged by LeaseTrader to list and transfer vehicles and facilitate the auto lease transfer process, and those fees required by the car 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. If youd like to find the fees for a specific leasing company,go to Leasing Company Information in our site. If the company you are looking for is not listed, please Contact Us.
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 car 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. If you are unsure about your states policies, you can check with the agency that handles taxes for your state, or ask a local auto tag agency who should be able to advise you on how taxes are handled in vehicle assumptions or car lease transactions.

Click here to read more about LeaseTraders's fees


What are my options if I want to end my lease
 

- Purchase the vehicle
- Sell the vehicle
- Trade the vehicle into a dealer, in which case the dealer pays off the lease.
- Arrange for an assumption (with Leasing Company approval) through LeaseTrader.com
All of these options are available to you. What you are doing is satisfying the payoff balance (Residual Value + remaining lease payments) at the time of your decision, which may be more than the value of the vehicle.
 


What are my responsibilities at the end of the lease
 

- Sell the vehicle
- Trade the vehicle into a dealer, in which case the dealer buys the vehicle or returns it back to the leasing company.
- Extend the lease by calling your leasing company.
- Turn your vehicle into the dealer.
If you choose to return your car to the finance company you may be responsible for excess wear and tear as well as the excess on the mileage allowed by you lease agreement.


What are my responsibilities for vehicle maintenance
 

You are responsible for all maintenance and you should follow the recommended maintenance schedule as outlined by the manufacturer.


What are my responsibilities for vehicle insurance?
 

You are required to have insurance on your leased vehicle throughout the lease term. Refer to your lease contract for details on the exact coverage required.


Am I responsible for personal property tax on my leased vehicle
 

Only in those states that assess personal property tax on leased vehicles, such as Texas, Missouri, North Carolina, Virginia, West Virginia, etc. For information about your state's policy please check your state's website.


Who is responsible for moving violations
 

By law, you are responsible for all parking/ moving violations.


What happens when I drive more miles than is stated in my Lease Agreement
 

If you purchase, sell, or trade your vehicle to a dealer or refinance the lease no mileage charge will be assessed. If , however, you elect to turn your vehicle in at lease end, and you have exceeded the allowable mileage stated in your contract, you may incur excess mileage charges. Refer to the section of your contract titled "Standards for Wear and Tear". This section will help you calculate excess mileage charges.


How do I get license plates
 

In most cases, when you take delivery of your vehicle, the dealer will handle the necessary steps in supplying you with your first set of license plates. In subsequent years you will be notified by the Bureau of Motor Vehicles for renewal procedures.
 


Who pays for license plates
 

You are responsible for the cost of license and registration fees throughout the lease term. You will receive a bill annually from the Bureau of Motor Vehicles for this cost. In the event that someone assumes your lease then they will be responsible for these costs.


Can I take my leased vehicle out of the continental United States
 

No, most lenders umbrella insurance will not allow you to take your leased vehicle outside the continental U.S.


What happens if tax rates change
 

If the tax rate change affects your lease payment, you will be notified of the new rate. Your monthly payment will then be changed to reflect any increase or decrease resulting from the tax change.


What happens if I move out of state
 

You should contact your leasing company at least 30 days prior to your move so they may take the necessary steps in assuring that your vehicle is registered properly. In addition, some states require additional fees and taxes to be paid when registering in that state.


What happens if I my vehicle is wrecked but not declared a total loss
 

You need to have your vehicle repaired.


If I decide to return my vehicle at the end of my lease, who do I contact
 

You need to contact your leasing company and inform them where you are planning to return your car lease.


What do I do if I haven't received a payment booklet
 

If you have not received your payment booklet before your next payment due date, please call your leasing company. Even though you may not have your payment book, you are still required to make your payments on time.


Testimonials
"I´ve Leased with LeaseTrader on several occasions, and they are the best. Most prices are about the best you´ll find out there. Their service is outstanding,. The best part, they transferred my application to the fiancé company on the same day I ordered it. I´ve never had an issue with them, and highly recommend them."
Sergio J. (CA)
Instant Auto Insurance Quote
Enter Zip Code:
Vehicle Shipping Quote