Anyone know how to find out if a car lease can be assumed by someone else? Do we have to call bank or leasing company or dealers?
Call the lender and ask if you can transfer the lease AND liability.
The dealer won’t know squat.
Yes you need to get your name completely off the lease, BMW does it I know, but i am not sure of any others. I know VW et al does not.
Transferring GM lease and liability :
Account must be 6 months old
Same state
Credit check required
Transfer Fee $600
Thank you for that reply. that $600 is very harsh…
I know Nissan/Infiniti will let you transfer with a 250.00 buyer credit app fee, however, you remain liable on the lease. In other words, YOUR credit report is screwed if THEY miss a payment. As Bendetto says, make sure you can transfer lease and LIABILITY. Otherwise, it’s a pretty big gamble.
BMW and Mercedes both charge a similar amount.
Only Toyota charges substantially less ($200) that I know of (among companies that transfer all liability as well)
Nobody is forcing you to transfer the lease. It’s worse for the Jaguar people, they can’t get out even no matter what they do
