Hello all, if this has been covered elsewhere I apologize since I couldn’t find anything. I have a truck on here and swap a lease that I’m trying to transfer to someone else. I found a guy out of state that wants it, and he just got the credit application for US bank sent in today and paid the $150 fee. They told him 4-5 days to hear back on approval.
Why does it take them so long to process this application? When I went in to the dealer to lease the vehicle it took them less than an hour to get credit approval. Not a big deal, just curious if anyone knows why? Thanks
You are transferring a credit obligation vs. the company generating new revenue… Not to say this is the only reason but I am sure it contributes…
My guess is transfers are just not a high priority to US bank or any other leasing company. Mercedes or BMW usually approve credit in a day or so but Mercedes took 6 weeks after that for my last two lease transfers. It’s just a slow process that you can help along a little bit by completing your end of the paperwork quickly but otherwise you are at their mercy.
Thanks for the replies. That’s kind of what I figured, they just don’t care that much so they take their time. Even though on the other side it costs $150 application and then $500 just for them to do paperwork.
