Are websites like “Swapalease.com” effective?
I can’t wrap my head around them transferring a lot of cars.
Looking to get out of my GM lease early an am wondering if it’s worth going this route?
Thanks!
Yeah it can be, if your payment is attractive enough to take over, note that GM only lets you transfer in state, so take over would have to remain in CT.
It’s just a place to advertise. If the deal is attractive someone will take it. So the speed with which your lease finds a “buyer” depends on the deal and very little to do with what SAL can do on its behalf.
Choose the cheapest option if you go that route.
Alternatively you can try Private Transfers for free and Craigslist for $5.00 first.
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year/make/model/miles/payment?
Ive done probably 15 lease swaps over the years mostly found through swapalease. 99% of the deals on there are terrible deals though. The good ones are usually spoken for with a day. When in the market you have to check daily and not be picky. If your lease is attractive it will transfer.
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Swapalease is great. Done many transfers through them. But it’s not a dumping ground for bad leases. So it works well if you have a great lease with enough miles left on it. Under 2 years with at least 800mi/mo left is the sweet spot in my experience.
GM financial does restrict you somewhat. No transfer across state borders and no transfer in fist and last 6 mo of the lease.
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Does GM Financial limit transfers to in-state to avoid having to re-title or re-register the vehicle? It is not clear to me what happens when a lease transfer is done within state. Theoretically the taxes have already been paid to the state for GM to register the vehicle. Would the new lessee have to pay the taxes again if it stays within state?
The reasoning why they only allow in-state transfers is not relevant. That’s their restriction, there is no way around it. I don’t know the specifics about taxes in your state, in FL the taxes are a percentage of the monthly payment, so you continue paying the payment.
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It is relevant in Maryland where I currently live. We pay full tax on the car at start of lease. If I could assume a lease in Maryland without having to pay the taxes again, then it would be a huge advantage. Since the owner of the vehicle is not changing hands, maybe Maryland won’t require payment of taxes again.
And Facebook! See my stats here
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How much does GM charge to transfer the lease? Where can I find out more about the costs involved?
Thank you everyone for the input, really appreciated! So in my case it’s a 23’ Silverado LT. like 22 mo’s left a counting.
The payment is high but I’d be offering a cash incentive to bring the “net” payment down.
Basically sounds like if it’s a solid deal then someone may jump on it.
Thanks again everyone!
It’s still not relevant because you can’t change GM financials policy and it’s also not relevant to a question about OP’s lease transfer in CT.
If you just want to know hypothetically about transferring a GM lease within Maryland, you can call GM financial and ask how taxes are handled.
https://www.swapalease.com/help/lease-company/gm-financial
SAL has info on all lessors available.