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What are my chances on transferring my auto lease?
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How long does it take?
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What are the costs to use LeaseTrader?
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What role does my financing company play?
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Can I back out once I post my car?
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What if the interested person is in a different state?
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What documentation do I need to sign?
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What guarantees do I have?
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Transfer fees by financial institution
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Does my company support transfers?
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Can I back out once I post my car?
Yes, you have the final say up until you sign the lease transfer documentation provided by your finance company. *Note Bank fees as well as LeaseTrader fees are non-refundable.
How long does it take?
From the time the transfer starts, it can take between 10 days to as long as six weeks for the leasing company to complete the transfer paperwork. This is mainly due to paperwork and mail going back and forth between buyer, seller and the finance company. LeaseTrader offers services to expedite the lease transfer.
What are the costs to get out? - Advertising Fees
Advertising of your vehicle: from $79.95
Ad runs until the vehicle sells or transfers. Discounted listing packages available from time to time upon request, contact our listing department for more information.
Seller transaction fee - $249.95
In addition to your advertising fee, LeaseTrader charges the seller (you), a one-time $249.95 Non-Refundable brokerage fee; due once there is an initiation of the lease transfer process with an interested party provided directly or indirectly through LeaseTrader.com.
Bank Transfer fee: Some financial institutions charge the buyer (not you) a fee $0 to $600 to process the car lease transfer paperwork. This fee varies and is payable directly to the Finance Institution (e.g. Mercedes Benz Credit).
What if the interested person is in a different state?
A great number of transfers are between people in different states. We work with third party inspection companies and with a national transportation company that can deliver your vehicle throughout the US. You can negotiate with the person taking over the auto lease as to who pays any costs involved. Check out our Service Partners for more details.
What are my chances on transferring my auto lease?
Although we cannot give any guarantees, we have a constantly updated waiting list of individuals looking to take-over auto leases. We tend to receive various applications per vehicle. LeaseTrader's patent pending system automatically notifies all the people who requested your vehicle the second you put it online.
What role does my financing company play?
Independent of our pre-screening process, all auto 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 lease. The Buyer taking over your auto lease typically pays these fees. These fees range from $0- $600.00.
What documentation do I need to sign?
The paperwork provided by LeaseTrader and your finance company. From the time a suitable candidate is found, it could take as long as three weeks to process the transfer paperwork. This is mainly due to mail going back and forth.
What guarantees do I have?
Although we cannot give any guarantees, we have a constantly updated waiting list of individuals looking to take-over auto 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. For more information please review our Terms and Conditions and Listing Agreement.
Transfer fees by Financial Institution
Bank Transfer fee: Some financial institutions charge the buyer (not you) a fee $0 to $600 to process the car lease transfer paperwork. This fee varies and is payable directly to the Finance Institution (e.g. Mercedes Benz Credit). Leasing Company Information
Does my company support Transfers?
Most companies today allow lease transfer but you should always call your company to confirm their lease transfer policy. If you have any doubts, just call us and we'll be more than happy to help you with our previous experiences.
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