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OT-Vehicle lease transfer/assumption


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#1 inkman

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Posted 19 July 2014 - 04:39 PM

I'm considering transferring my lease to another person (have not advertised yet). I have to change vehicles and I'm looking for anyone who has experience or knowledge of this type of transaction.

#2 Eleven

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Posted 20 July 2014 - 10:38 AM

I'm considering transferring my lease to another person (have not advertised yet). I have to change vehicles and I'm looking for anyone who has experience or knowledge of this type of transaction.


We did this with my aunt's car when she passed. She had prepaid the whole lease, and there were 18 months remaining on it. I'll ask my father for the details on how it was done. But I know it took help: the original dealer helped, as did whatever leasing company is associated with Ford, and it didn't hurt that the transferee is a car salesman who knows about these types of things.

#3 DeLuca1967

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Posted 20 July 2014 - 11:14 AM

I'm considering transferring my lease to another person (have not advertised yet). I have to change vehicles and I'm looking for anyone who has experience or knowledge of this type of transaction.

You need to contact your leasing company and verify what their policy is on transfers/assumptions. Some banks will not allow you to transfer your lease.

#4 SabresFanInRochester

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Posted 20 July 2014 - 11:38 AM

leasetrader and other similar companies charge a transaction fee and do all the work, some of which includes locating a buyer. Since you already have the buyer, you may find their fee is too steep. You may still want to review their site as they might walk you through the steps of the transfer. But, I agree with most of the above posts, it involves having the lease company completing a transfer on your behalf. Good luck.

#5 inkman

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Posted 20 July 2014 - 12:20 PM

You need to contact your leasing company and verify what their policy is on transfers/assumptions. Some banks will not allow you to transfer your lease.

My company allows it and I have the credit application in hand. Haven't heard of a fee, I'll need to check that out.


#6 Sabre Dance

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Posted 22 July 2014 - 11:44 AM

If there are too few months left on the lease (varies according to leasing company, but generally 6 months), they won't do it. Too much paperwork for too short a period, I guess...

#7 inkman

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Posted 22 July 2014 - 12:10 PM

If there are too few months left on the lease (varies according to leasing company, but generally 6 months), they won't do it. Too much paperwork for too short a period, I guess...

I have 15 months left with a great payment (330) for a 2013 caddy CTS coupe. I may need to ask for a down payment as I'm losing a little equity. I traded into Solstice upon lease agreement and dropped my payment significantly. I'd hate to just give that away.

#8 inkman

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Posted 24 July 2014 - 09:21 PM

So anyone have any recommendations for a 4 door, inexpensive good MPG sedan? I've been looking at Kia's and Dodge Darts. Any input would be appreciated.

Edited by inkman, 24 July 2014 - 09:21 PM.


#9 biodork

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Posted 24 July 2014 - 09:41 PM

So anyone have any recommendations for a 4 door, inexpensive good MPG sedan? I've been looking at Kia's and Dodge Darts. Any input would be appreciated.


I don't think it qualifies as a sedan since it's a compact car, but I honestly love my Honda Fit. The mpg is insanely good (I regularly average 35+ for the full tank), the foldable rear seats are awesome for fitting all sorts of stuff you wouldn't think a car that small could hold, and it's surprisingly fun to drive at highway speeds. But, the engine is underpowered, so I wouldn't recommend it if you live somewhere hilly.

#10 d4rksabre

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Posted 24 July 2014 - 10:12 PM

So anyone have any recommendations for a 4 door, inexpensive good MPG sedan? I've been looking at Kia's and Dodge Darts. Any input would be appreciated.


The Chevy Cruze is probably the best deal on the market right now. Personally for looks I prefer Nissan. Hyundai I believe offers the best warranty. I've been looking into economy sedans because I'm going to try to get out of my gas hog Buick.



#11 inkman

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Posted 24 July 2014 - 11:26 PM

The Chevy Cruze is probably the best deal on the market right now. Personally for looks I prefer Nissan. Hyundai I believe offers the best warranty. I've been looking into economy sedans because I'm going to try to get out of my gas hog Buick.

Lots of driving in your near future young padawan

#12 X. Benedict

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Posted 25 July 2014 - 04:26 AM

The Chevy Cruze is probably the best deal on the market right now. Personally for looks I prefer Nissan. Hyundai I believe offers the best warranty. I've been looking into economy sedans because I'm going to try to get out of my gas hog Buick.


I had the Cruze as a last minute rental and put 800 miles on it. Great fuel economy, nice ride...only complaint are the rear views. Small rear window, and the mirrors need to be extremely precise. Bump that sucker and it isn't a quick adjust.

#13 inkman

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Posted 02 August 2014 - 12:01 AM

So I put my whip on Craigslist.

http://rochester.cra...4597166253.html

It's been just over 24 hours with no contact. I've sold several vehicles through Craigslist and almost always got an immediate response. I did notice a much slower reaction to my solstice which was 5-10 time the price of most of my vehicles.

There is a website to go through just for this sort of thing but they charge anywhere from $100-$500, based on level of advertising you want. This is getting to be annoying.

Edited by inkman, 02 August 2014 - 12:01 AM.


#14 tom webster

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Posted 02 August 2014 - 06:21 AM

So I put my whip on Craigslist.

http://rochester.cra...4597166253.html

It's been just over 24 hours with no contact. I've sold several vehicles through Craigslist and almost always got an immediate response. I did notice a much slower reaction to my solstice which was 5-10 time the price of most of my vehicles.

There is a website to go through just for this sort of thing but they charge anywhere from $100-$500, based on level of advertising you want. This is getting to be annoying.


In my opinion , 582 miles per month may be the big drawback.

#15 inkman

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Posted 02 August 2014 - 11:17 AM

In my opinion , 582 miles per month may be the big drawback.

Yeah I'm a bit over on my mileage. It was an ultra low mileage lease. I got a promotion and my commute went from 3.5 miles to 17 miles one way.

#16 MattPie

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Posted 02 August 2014 - 12:07 PM

In my opinion , 582 miles per month may be the big drawback.


I didn't catch that the first read. I put that many miles (7000) on my motorcycle per year, seems low unless you have a close job or second vehicle.

#17 inkman

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Posted 16 August 2014 - 06:05 PM

So no takers...

Went to the dealer, getting out of old lease and signing up for new. Not ideal as I was looking to lower payments but I now have a four door and its fuel efficient. (Relatively speaking)

My new whip as of next week:

Posted Image

Edited by inkman, 16 August 2014 - 06:05 PM.


#18 Sabres Fan In NS

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Posted 17 August 2014 - 08:55 AM

Hey Ink,

To bad you are not up here in Canada.

We have this outfit called Lease Busters. I'm not exactly sure how it works, but they exist to get people out of their lease and other people into it.

#19 inkman

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Posted 17 August 2014 - 11:34 AM

Hey Ink,

To bad you are not up here in Canada.

We have this outfit called Lease Busters. I'm not exactly sure how it works, but they exist to get people out of their lease and other people into it.

Yeah I checked a few places online and they all wanted a fee (understandable) but I didn't want to have to pay that without knowing if my lease would be picke up. Everything worked out well. I like my new ride a lot.

#20 inkman

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Posted 08 June 2015 - 01:57 PM

So not even one year into my ATS lease and I'm looking to get out. I thought 4 doors would be enough but the backseat is minute. I have trouble getting in and out. I'm looking at crossovers like the Acadia and Traverse.

#21 ubkev

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Posted 08 June 2015 - 04:31 PM

I had a rav4 and liked it. But if I ever go back to SUVs from luxury cars, I'm going to get something big. Like a Sequoia or a 4Runner or a Tahoe.

#22 d4rksabre

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Posted 08 June 2015 - 04:49 PM

I had a rav4 and liked it. But if I ever go back to SUVs from luxury cars, I'm going to get something big. Like a Sequoia or a 4Runner or a Tahoe.


If you're going to go that big just get a Suburban so you have the full 8' bed with the seats down.

So not even one year into my ATS lease and I'm looking to get out. I thought 4 doors would be enough but the backseat is minute. I have trouble getting in and out. I'm looking at crossovers like the Acadia and Traverse.


Just get a Odyssey and accept your destiny.

#23 inkman

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Posted 08 June 2015 - 06:10 PM

Just get a Odyssey and accept your destiny.


https://youtu.be/cbeR6uYxU50

#24 Woods-Racer

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Posted 08 June 2015 - 06:19 PM

My Dad has a Honda Odyssey.

 

He is 74 years old.

 

It's his going golfing, happy hour, to the Legion multi friend hauling man van.

 

Any comment on the van gets the starring look of GMTM in negations and ZFG if you don't like.


Edited by Woods-Racer, 08 June 2015 - 06:19 PM.


#25 d4rksabre

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Posted 08 June 2015 - 06:36 PM

https://youtu.be/cbeR6uYxU50


But seriously they're super useful and you can get em with bangin sound systems. Town and Countrys too.

My Dad has a Honda Odyssey.

He is 74 years old.

It's his going golfing, happy hour, to the Legion multi friend hauling man van.

Any comment on the van gets the starring look of GMTM in negations and ZFG if you don't like.


Minivans are great. I hate them. But they're great.

#26 Whiskey Bottle of Emotion

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Posted 08 June 2015 - 06:39 PM

My Town and Country is the most important thing that I own.



#27 Woods-Racer

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Posted 08 June 2015 - 06:41 PM

But seriously they're super useful and you can get em with bangin sound systems. Town and Countrys too.

Minivans are great. I hate them. But they're great.

 

 

You don't hate them, you hate that you've become so....

 

 

sensible, if you buy one?

 

My rational is the day a mini van is parked in my spot in the garage, is the day I get a very large and expensive American made motorcycle.  

 

Gotta have the Ying and the Yang in life.



#28 inkman

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Posted 08 June 2015 - 06:50 PM

You don't hate them, you hate that you've become so....


sensible, if you buy one?

My rational is the day a mini van is parked in my spot in the garage, is the day I get a very large and expensive American made motorcycle.

Gotta have the Ying and the Yang in life.


Or just something resembling a penis

#29 Woods-Racer

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Posted 08 June 2015 - 06:57 PM

Or just something resembling a penis

 

 

 It means I'm old and can't ride anything with hp.



#30 inkman

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Posted 08 June 2015 - 07:00 PM

It means I'm old and can't ride anything with hp.


I try to stay away from hairy ###### as well but sometimes the snake has to slither through the grass to get to its hole.

#31 Whiskey Bottle of Emotion

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Posted 08 June 2015 - 07:00 PM

 It means I'm old and can't ride anything with hp.

 

 Something something euphemism.



#32 d4rksabre

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Posted 08 June 2015 - 07:09 PM

I think if I'm ever in the market for a minivan that the last thing I'll also be in the market for is another motorcycle. For at least 18 years or so. 



#33 Woods-Racer

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Posted 08 June 2015 - 08:27 PM

Unfortunately I have ruffled feathers. Not my intentions. I should have seen it coming, but I was grilling diner and not able fully give my attentions to the thread.

 

It's all about sensibility as far as the vehicle I drive daily is concerned.

 

 

I use a pick up for work and use it to haul a bike. The pick up is the most sensible, as it gets the most use out of any vehicle I could buy. A race bike, the least sensible, but the second greatest enjoyment next to family.

 

 If I know longer need a pickup truck because I'm not able to work and enjoy working, that means I am no longer able to race. I see my self in a mini van. I am tall and not skinny, a van is by far the easiest for me to get in and out of and comfortable to drive. Today's SUVs with their bucket seats and center consoles are very uncomfortable to me. A car, especially anything sporty, useless and the most uncomfortable.

 

But I hope I still have the thrill of a spirited ride left in me and can enjoy the Blue Ridge Highway, or the Black Hills of South Dakota. So I will celebrate the next stage of life with a large American motorcycle, not the most sensible vehicle on the road, but one I hope I will enjoy and not kill myself on.

 

I fine with the next stage, hope I can stave it off for another decade. Sorry I seem to pass judgment that a vehicle meant your man hood, not my intentions.

 

I only meant that my knees, shoulders, and back can no longer take my daily and weekend enjoyment and I will adjust.



#34 d4rksabre

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Posted 08 June 2015 - 08:32 PM

Unfortunately I have ruffled feathers. Not my intentions. I should have seen it coming, but I was grilling diner and not able fully give my attentions to the thread.

It's all about sensibility as far as the vehicle I drive daily is concerned.


I use a pick up for work and use it to haul a bike. The pick up is the most sensible, as it gets the most use out of any vehicle I could buy. A race bike, the least sensible, but the second greatest enjoyment next to family.

If I know longer need a pickup truck because I'm not able to work and enjoy working, that means I am no longer able to race. I see my self in a mini van. I am tall and not skinny, a van is by far the easiest for me to get in and out of and comfortable to drive. Today's SUVs with their bucket seats and center consoles are very uncomfortable to me. A car, especially anything sporty, useless and the most uncomfortable.

But I hope I still have the thrill of a spirited ride left in me and can enjoy the Blue Ridge Highway, or the Black Hills of South Dakota. So I will celebrate the next stage of life with a large American motorcycle, not the most sensible vehicle on the road, but one I hope I will enjoy and not kill myself on.

I fine with the next stage, hope I can stave it off for another decade. Sorry I seem to pass judgment that a vehicle meant your man hood, not my intentions.

I only meant that my knees, shoulders, and back can no longer take my daily and weekend enjoyment and I will adjust.


No feathers ruffled man. May you always keep it right side up. It's a lot more fun that way :P

#35 MattPie

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Posted 08 June 2015 - 11:27 PM

This is all fascinating to me. A few thoughts:

- I had my Sienna parked next to my friend's Suburban and noticed the Sienna is at least as big if you discount that the floor is 6" lower than the Suburban. I just looked and the Sienna is bigger than a Suburban inside based on cargo volume (It truly is gigantic). Unless you need to tow something more than 3500lbs (Sienna rated capacity), there aren't a lot of reasons for the Suburban. The 'burban does have an extra 1.5" of ground clearance (8" vs. 6.5"; I thought it would be more); 8" is slightly less than a Subaru Outback.

- I've driven my two Subaru WRXs through some pretty hairy snow storms, and those had 6" of ground clearance. One night, it was me and the tractor trailers, and one pickup that I saw spin off the road in my mirror. I thought about turning back but I saw someone else stop and I'd have to reverse on snowy a highway to help.

- The answer is never a Harley. Even if you ascribe to the power == death theory, there are plenty of bikes with reasonable power to weight ratios that can turn. But, I don't believe power is an issue if you have some self-control; most single-motorcycle crashes are caused by a failure to negotiate a corner. I take my chances on a bike that can corner far faster than the street allows than a Harley that can easily reach speeds that it won't be able to corner at.

- Speaking of cornering, I had a chance to try the Sienna out on a fairly twisty road on Saturday. As long as you're smooth, it'll corner far faster than most traffic allows. I'm talking 35-40 MPH marked corners at 65 with little drama. Smooth is the key though, it doesn't like sharp steering inputs. I'd have more data, but a fart of Harleys were holding me up and there wasn't a good place to pass.

- Built-in Nav systems suck. Not only are smartphone (not to mention bespoke) solutions better these days, but the Toyota system makes using the radio for music a chore. To change the radio I need to look at the stupid thing and hit on-screen buttons. I'm really hoping that there something in the manual to make it easier.



#36 MILFHUNTER#518

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Posted 09 June 2015 - 05:40 AM

So not even one year into my ATS lease and I'm looking to get out. I thought 4 doors would be enough but the backseat is minute. I have trouble getting in and out. I'm looking at crossovers like the Acadia and Traverse.

Have you looked at a Kia Sorrento? If you are looking for a STRONG lease program with a super nicely done product, there you go

#37 bcSaberks

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Posted 09 June 2015 - 08:33 AM

Get the minivan Ink!  Look at it as a temporary life phase.  

 

Our family car history:

VW Jetta (dinks - 1st kid)

Odyssey from 2002 - 2010 (more babies + dog crate) 

Suburban 2010 - 2015 (kids taxi + towing 7000# camper + dog in way back) 

Silverado 2500 2015 - ? (teens + 5th wheel dreams + dog under cap)  

 

The Odyssey was great, but as MattPie suggests, just didn't match our towing needs.  Small-Mid size SUV I just do not understand.  Safety I guess, and 3rd row (though with no room for luggage or dog), but there's more utility elsewhere.



#38 SwampD

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Posted 09 June 2015 - 09:03 AM

A pod of whales.
A murder of crows.
A pride of lions.
...And a fart of Harleys.

Nice.

#39 shrader

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Posted 09 June 2015 - 09:37 AM

My brother just got a Kia minivan (sorry, I have no idea what the model names are for them).  Sure I had my fun mocking him, but you better believe that he was the first person I called for help with my move next weekend.  Ultimately, I don't really care what the vehicle looks like if it gets me where I need to go and can hold everything I need to move.



#40 Corp000085

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Posted 09 June 2015 - 03:57 PM

I have a VW sportwagen tdi. Great car. Great mileage. Great cargo capacity for weekend trips to stores or vacation luggage