Hey guys,
I am looking to transfer my lease with GM Financial. I already found a person to assume it and am about to call them. My question is does anyone know how long for the entire process to finish and I want to make sure GM is one of those where the entire liability can be moved to the new person? (One reason not to lease a Nissan)
Swapalease is pretty good at collating most of the information for different financial companies regarding lease swapping. Here is what they have to say about GM:
https://www.swapalease.com/help/lease-company/gm-financial
Around 1 month, I transferred it once, the transfer fee is kind of pricey compare to other brands. And I believe it will transfer the whole thing to the next person, unlike Audi, Nissan, etc…
You will NOT remain liable.
20 minutes hold time sigh
The process took a long freaking time, but we are now in limbo because the liability has been transferred but he doesn’t have the DMV paperwork yet, yet he has insurance. It is super weird. Whole process took nearly 6 weeks, but i am glad to report the car is off my house!
Simply for reference I transferred a GMC lease from my name to my wife’s name and it took maybe 2 weeks. The process and paperwork, while a little tedious, wasn’t too bad overall. Calling or chatting with GM financial was surprisingly not bad either and they were always willing and able to communicate where we stood during the process.
Mark