Time to transfer GM lease / Liability in California

Ask the Hackrs
,
1

Hi there

I hope I’m posting in the right place.

I’d like to transfer my GM lease to another individual in California. We’re aligned on everything. But when I spoke with GM, they said that it could take up to 60 days after the buyer registers the car in CA for GM to recognize the transfer and that if the new lessee drives the car, even after registering it, I coudl still be liable if they have an accident.

two quesitons:

  1. does it really take 60 days in California?
  2. am I liable if they crash?

Thanks

Danny

2
  1. 60 days is likely their boilerplate language and it might be faster
  2. Sure, you are on the contract and obligated to maintain insurance during the course of the lease.

P.S. not a cali resident

3

Once the transfer is complete file one of these online

2 Likes
4

In the case of GM lease transfers you are no longer on the contract after the lease transfer is complete on their end - it’s from when it’s completed on their end that they then estimate 60 days for reg to be transferred

1 Like
5

yep have done 3 lease transfers with GM, each time just filling out CA DMV NRL as soon as I hand over the keys

3 Likes
6

I meant during the transfer. One is transferred it’s over

7

Hi all thank you VERY much. GM says after the credit check and successful completion of paperwork by both parties signed in wet ink they’ll send us a letter and then (at some time undetermined) submit registration (title?) transfer to CA DMV. Then DMV processes the change on the title and notifies GM then GM notifies us.

They say (a) I can give the car to the new leaseholder when I get their letter but (b) I will be liable until GM hears from DMV. That seems nuts: why would I give the car to the new leaseholder (who could have an accident) if I’m still liable.

When would I submit the NRL since I don’t know when GM will have submitted the change request to DMV? And why would it be binding if I happen to submit the NRL before GM has submitted to DMV, or that DMV has accepted the change?

I’m sorry for being so thick, but something doesn’t make sense to me

8

Read my thread on this. It took every bit of 45 days to transfer mine despite the original lessee and I doing everything in record time. Private Transfers: What's the paperwork holdup from the finance companies?!

One of the guys who replied in there took 60+ days.

Honestly, it would have to be an amazing deal from/to someone I trust to go through this again. The part that should have taken 48 hours (finalizing the 7 pieces of paper) took their 3rd party 30 days to mail to me.

9

thank you!