How to Transfer Auto Leasing

Leasing a car gives you the option of returning it to the dealership after a few years. But some people wish to terminate the lease early. Early termination can involve expensive penalties. However, transferring the lease to a new party is one way to end a lease term early. But before placing ads in the paper, know what's involved with auto lease transfers.

Instructions

1

Get permission to transfer your existing lease to a new party. Some leasing companies do not openly advertise lease transfer options. Speak with your leasing company first to see if it permits transfers, and inquire about the process of transferring your lease to a new party.

2

Use different outlets to find someone to take over the lease. Aggressively advertise the lease transfer to quickly find someone. You can run an ad in the local automobile section of the classifieds or place an ad on websites like LeaseTrader and SwapALease.

3

Wait until the person completes an application with your leasing company. Leasing companies have the final say in lease transfers. The individual taking over your lease will need to complete an application, submit income information and wait for an approval before taking possession of the car.

4

Complete transfer documents. Once the transfer is approved by the leasing company, the company will forward transfer papers for you and the new lessee to sign. Sign the documents and return to the leasing company to complete the transfer.