Did a two year one pay lease in August 2025 for a Hummer 2x SUV, so have one year left
Paid 16k one pay for 24 months and 10k miles a year
Have 10k miles left for mileage and we ended up buying another SUV (kind of spur of the moment).
Now I either just drive the heck out of the Hummer to get close to the 20k mileage and return it then, or see if it’s possible to transfer the remaining lease?
For those saying just do a lease transfer, is this something that is done formally and legally through GM? Or am I just doing this independently with another person and accepting a check for nearly half the 16k? Just wasn’t sure if it’s different with a one pay
The lease transfer is done formally and legally through GM. Keep in mind with GM leases you can only transfer in-state so the takeover candidate must be in TX.
However for a one-pay lease, since everything has been paid it’s up to you and the takeover candidate to work out the payment of the $8k (or whatever you ask) to you. Check, cash, Vermont, etc., GM won’t have anything to do with that.
GM would charge $600 and take about a month for the process. They are really slow with the transfers. You can ask the new lessee to pay the transfer fee and the pay $8k to you.