Car Lease Swap Blog

You can lease this S Class  for $3,852.81 a month for 27 months. You can average 1,472 miles per month for the balance of the lease or a total of 39,750 miles through the end of the lease.

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Transfer Restrictions: Cannot transfer in the first 6 or final 6 months of lease (some exceptions may apply) California Transfer Fee $695, Wisconsin Transfer Fee $0, Louisiana Transfer Fee $0 Application Fees: $0.00 Transfer Fees: $595.00

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The process of exiting your lease does not need to be painful. You simply need to understand your options. A lease transfer is likely one of the lease expensive and easiest methods for removing your liability to a vehicle. If you are under a lease agreement, most likely you are locked into that agreement for the remainder of the term.

The basic process for transferring your lease takes these basic steps:

1. The person who is assuming your lease needs to pass a credit check and needs to fill out the correct forms with your leasing company.
2. The leasing company will perform background and credit check and then will decide whether or not to accept the applicant.
3. If the person is approved, then the necessary documents will be prepared and subsequently sent to the buyer and seller. These need to be signed and returned to the leasing company.
4. Once the paperwork has been signed and returned to the leasing company, then the seller needs to release the keys to the purchaser and send the transfer paperwork over to the leasing company.
5. Within about week the leasing company will send out confirmation paper work to both parties. The new owner will begin to receive payment coupons for the lease.

Are There Company Restrictions?

Although the above sound so easy, there are restrictions. Every leasing company works differently, and every lease has its own restrictions. Some companies do not allow a transfer of the lease.

When transferring your lease you should consider: The ability to transfer, Transfer restrictions, Contingent Liability, and Transfer Fees. Do beware that some companies even charge the transfer fee before the buyer is credit-approved.

What are the fees associated with transferring a lease?

In addition to the aforementioned transfer fees there are other associated fees. These fees may include: Shipping, Advertising, Inspection fees, and Taxes. You may consider opening up an account to deal with these fees separately. However, if your buyer is local, you may not need to pay any of these fees.

There are alternative to transferring your lease such as trade-ins, buy-outs, selling it out-right, and refinancing. However, these may not be as cost effective as a complete least transfer. Not only that, some lease companies or lease contracts may have contingencies upon these.

How Should I Evaluate My Lease Situation?

Before you decide if a lease takeover is for you, you will need to evaluate your current situation. First you need to calculate the cost of each of your options mentioned above. Some find that a lease buy-out will cost more than refinancing or selling nit out-right.

Every case is different. It would be a wise idea to talk to a specialist about your current situation. Here are some things to consider:

• Is the vehicle over the mileage listed on the lease?
• Would it be more cost effective to purchase the vehicle out-right at the end of the lease?
• If your lease at the beginning if the lease term? (This may be a good selling point.)
• Is the vehicle damaged in any way?
• Is your payment too high for your budget or for current average prices?
• Could you refinance for a lower monthly payment?

I Have Upgraded the Vehicle with Aftermarket Parts, Now What?

If you have added new premium upgrades such as a sound system, trunk mounted speakers, chrome details, elite rims, or other high end market stuff, you may not recoup that investment when you sell or transfer your lease. Not many buyers consider extra upgrades a value. Unless you find a buyer who is willing to pay extra for your investment, it might be a better idea to remove those items and sell them separately online.

Exiting a Lease Takes Patience

It would be a wise idea to find a person who is willing to assume your lease and take over payments if you can avoid the high penalties. If you can find another cost effective method for exiting your lease, then you may be able to avoid more problems than those which would occur if you simply cannot afford your monthly payments.

Transferring a lease takes time and patience. Remember to read through your paperwork well, and begin the process as soon as possible if you know that you will need to take this action. You might find the road a little easier if you obtain some information from your leasing company and from a third party who has the background in selling a lease.

AskPatty.com and Swapalease.com
Partner to Expand Buying Options for
Women
Swapalease can help you exit your vehicle lease early by marketing your car lease to
lease buyers seeking a short term lease assumption or lease transfer.
Cincinnati, OH (PRWEB) August 11, 2008 — AskPatty.com and Swapalease.com are
pleased to announce that they have established a collaborative marketing relationship.
Representatives from each organization pointed to numerous reasons for doing so. Most
notably, each company is based on the same premise of helping a particular segment of
automotive consumers, women and lessees.
“AskPatty.com is committed to helping women research all the options when making a
vehicle purchase or lease,” stated Jody DeVere, President and CEO of AskPatty.com.
“Introducing the idea of transferring leases will provide a tremendous amount of value to
women who are not familiar with the concept. Swapalease’s simple, non-complicated
method is a valuable service for both buyer and seller.”
Jennifer Streets, the marketing director for Swapalease.com remarked, “I am looking
forward to working with another progressive online company. This alliance with
AskPatty.com will allow Swapalease to reach out to and educate female automotive
consumers who may be interested in leasing.” She continued by saying, “AskPatty.com is
an important and highly regarded resource for a large demographic of automotive
consumers… women.” Additionally, it was noted that Ms. Streets was recently named to
the AskPatty.com Panel of Automotive Expert Women as a result of her automotive
leasing credentials.
About AskPatty.com, Inc.:
The Ask Patty.com, Inc. website, blog and Second Life venue is a safe place for women
to get advice on car purchases, maintenance and other automotive-related topics. Women
can shop for vehicles at our network of certified female friendly dealerships across the
U.S.
AskPatty.com is a member and 2008 corporate sponsor of the Women’s Automotive
Association International based in Detroit, MI, Chair of the United Spinal Motorsports
program, Member of the California Skills USA board, on the Women’s Board of the Car
Care Council, a SEMA member and a member of the SEMA Business Women’s
Networking Group.
Go here to visit the AskPatty.com website: http://www.askpatty.com

Ask Patty Certified Dealer Program:
Properly armed with the right tools and training Ask Patty Female Friendly certified
dealers can increase their share of the largest and fastest growing demographic of new
vehicle buyers in the U.S. — Women Consumers. The Ask Patty Certified Dealer program
was designed specifically for car dealerships to attract, sell, retain and keep loyal women
consumers.
Go hear to learn how to become an AskPatty.com Certified Female Friendly Dealer:
http://hooktours.com/8003256/
Corporate offices for AskPatty.com are located in Thousand Oaks, California. For
additional information please call 888-745-1928.
About Swapalease.com
Swapalease.com is the world’s largest automotive lease marketplace and the pioneer of
facilitating lease transfers online as evidenced by the company’s patented processes.
Conceptualized in 1997 it has evolved into a leading automotive consumer online
destination servicing all aspects of the automotive leasing lifecycle including education,
research, pricing, acquisition and lease transfer. Swapalease.com has been featured in
stories by CNN, MSNBC, Time and the Wall Street Journal as well as cited by leading
search engine provider, Google.com as an online marketing case study.
Visit the Swapalease website here: http://swapalease.com/
The company is headquartered in Cincinnati, Ohio, and is privately held. For more
information please call 866-SWAPNOW (866-792-7669).
Note to editors, Mr. Hall and Ms. DeVere are available for interviews.