Looking to get out of my Inifiniti lease and transfer to only individuals I know personally due to the liability stipulation and I understand if they don’t pay, then it’s on me.
However, here is my question.
If the new lease recipient decides immediately or within a month after the transfer, they no longer want to pay the lease, do I have any options? Can I legally get the car back, since I am the one paying? Or by law, would they get away with driving the car for the remainder of the lease while I get stuck holding the bill?
I assumed an Infiniti lease last year and the way Nissan (parent company of Infiniti) explained it to me was that if the individual who assumes your lease does not pay they’re supposed to arrange to send the car back to you but they’re also on the lease now so they have their own liability issue.
Assuming the person you transfer to decides not to pay and not to send the car back you could sue them for the car due to non-payment. Keep in mind you will have all their information, when I did my lease transfer Nissan had my home address, my SS#, my work address, and phone number. The person who assumes your lease does not have that information about you, you definitely have the upper hand IMO.
I would assume in that scenario, if there was no payment and if there was no response from the person who takes over the lease that Infiniti would also step in but according to what infiniti told me you would have legal right to get the car back.
I’m actually looking to take over another lease for an Infiniti as well as my lease is maturing in October.
Thanks that definitely helps shed a bit more light on the situation. I know others who have done it had recommended holding 1 key, holding an agreed upon security deposit, etc. but of course all that complicates the deal more and not everyone will agree to such terms. If it is stated by IFS that I get car back with failure of payment, then it’s a little more relief although one still doesn’t want to get stuck with another payment and insurance.
You can try holding one key if you’d like but that means you will need to mail it to the person who takes over your lease when it time to turn the car in because Nissan requires you to turn two keys in with the lease.
Keep in mind this was not in writing, this was literally told to me because the person whose lease I took over had the same concerns, being that I was also liable for the payment I would not just stop paying and destroy my credit, that would be idiotic. Infiniti is going to require you to have the new individual pass a credit check as a safe harbor against skipping out on the car as well.
The security deposit idea is also good and shouldn’t be a problem for anyone who intends to fulfill the lease.
I spoke to Infiniti yesterday and they basically said that once I transfer the lease to someone, it cannot be transferred back to me…therefore if the person stops paying, they can legally continue to use the car while I get stuck paying for it…so it wouldnt even get transferred back to me…I think my time leasing with Infiniti is over lol
Obviously there is some legalese whereby you have transferred the lease in NMAC’s eyes but remain liable
Doesn’t matter how you phrase it, OP won’t get the car back. The expense of suing isn’t worth it given that it could be cheaper to make the remaining payments, the likely lack of any such precedent, and lack of clarity around OP’s ability to repossess the car given that he or she isn’t the legal owner.
I don’t think that’s correct. There was someone on here who transferred a lease, the new leasee passed away and obviously stopped paying, then the original leasee got the car back. Let me see if I can find that thread.
Yeah I vaguely remember that. The deceased’s kin voluntarily gave it back, right? What NMAC is probably telling the OP is that they won’t take off the new lessee, ie rewind the transfer.
When you are equally liable for the payments, NMAC or any other captive doesn’t care who “missed” the payments. You both did. They are not getting in the middle of that argument. Maybe @RVguy can confirm.
Either they get paid (doesn’t matter from who) or they’ll repo the car, send it to auction and charge the account for which both of you are liable.
If you are getting into an Infiniti lease and you want the option to transfer it at some point, DO NOT HAVE A COSIGNER!
I have a taker for my QX60 but when I called Infiniti to start the transfer process, I was informed of their new transfer policy that had started this year. I was able to transfer my last Infiniti even though my wife had cosigned it. Nope, not this time.
Infiniti keeps coming up with reasons for me to walk away from the brand…
