Ever wanted to terminate your lease early, comfortable with the thought you weren’t going to be hit with hefty fees? You can if you transfer your lease to someone else.
Trading a lease is the best option for people who want to terminate a lease early and don’t want to pay the large termination imposed by most lease agents. It can also be an alternative to get out of a lease for far less than you would otherwise pay your original lease company for extra mileage and wear-and-tear charges that can run into the thousands of dollars.
For a small fee, you can advertise your car lease for assumption to a large number of potential buyers on the look-out for leases on the Internet. Such services include LeaseTrader.com, the originator of online lease-trading and the biggest online marketplace where most lease transfers take place, and smaller marketplaces such as BreakAlead.com and TradeAlease.com
Before swapping your lease, make sure your leasing company approves lease transfer transactions. Caution must be exercised in choosing a lease swapping service: make sure they facilitate the whole lease transfer process, offer online or telephone customer-service help and registered buyers undergo stringent credit checks.
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