Styleforum › Forums › Lifestyle › Fine Living, Home, Design & Auto › taking over an auto lease
New Posts  All Forums:Forum Nav:

taking over an auto lease

post #1 of 5
5/7/07 at 9:05pm
Thread Starter 
i'm considering taking over an auto lease from an acquaintance who is leaving the country. i don't know how the process works but i understand this is a fairly common thing. if anyone here has experience with this could you please let me know if there is anything to look out for or any advice i may need?

thank you.
Reply
Reply
post #2 of 5
5/8/07 at 9:25am
Quote:
Originally Posted by matadorpoeta View Post
i'm considering taking over an auto lease from an acquaintance who is leaving the country. i don't know how the process works but i understand this is a fairly common thing. if anyone here has experience with this could you please let me know if there is anything to look out for or any advice i may need?

thank you.

It's fairly straightforward. You need to submit a finance application, probably through the dealer where the lease was obtained, to the leasing company. The car is registered to the lease company, so you won't have to worry about registration. You then need to put it on your insurance policy. Few things you need to worry about: fees due at the end of the lease, remaining time and mileage, the lease's inspection policy (so you won't pay out the arse for dings and other damages), and lastly, if there is any money owed on it. That's pretty much it.
Reply
Reply
post #3 of 5
5/9/07 at 12:41pm
Thread Starter 
thank you darknworn. it seems pretty straightforward. i'll make sure there are not any fees due at the end. (hadn't thought of that.)
Reply
Reply
post #4 of 5
5/9/07 at 12:50pm
The best lease programs are usually those of original car manufacturer. Bank (aftermarket) leases are stricter about condition of returned vehicle and almost always have disposal fees at the end of the lease.
Do not go to the dealer who sold the vehicle. I would deal with leasing company or bank directly to avoid any additional fees that dealers would try to charge you for faxing your application.
Just call 1800 number which is listed on the lease papers and ask them how lease transfer could be done.
Reply
Reply
post #5 of 5
5/10/07 at 11:31pm
Thread Starter 
Quote:
Originally Posted by dkzzzz View Post
The best lease programs are usually those of original car manufacturer. Bank (aftermarket) leases are stricter about condition of returned vehicle and almost always have disposal fees at the end of the lease.
Do not go to the dealer who sold the vehicle. I would deal with leasing company or bank directly to avoid any additional fees that dealers would try to charge you for faxing your application.
Just call 1800 number which is listed on the lease papers and ask them how lease transfer could be done.

thank you. this was very helpful.
Reply
Reply
New Posts  All Forums:Forum Nav:
  Return Home
Styleforum › Forums › Lifestyle › Fine Living, Home, Design & Auto › taking over an auto lease