Lease Transfer (Auto)

[underGRADFlame]

Has anyone ever transfered a lease before. I want to get out of my lease on my '05 Liberty, cause its too hard on gas. My cousin wants to take over my lease, which means a lease transfer. Any suggestions as of where to start, I'm pretty sure I have to go back to the dealership to transfer it, has anyone ever done this?

[CRXguy]

I haven't done it, but I'll just type out what I've heard from others.

The transfer fee usually costs about $2-300 from the dealership you're leasing through. Another thing I've heard is that the original person leasing could run into credit problems, if the new person taking over doesn't make the payments. Since you're cousin is taking over, that shouldn't be a problem.

[TimSJ]

call either the dealership or the leasing company directly. they will want a credit app on the new person to seee if they will qualify.. If they do they should transfer the lease no problem.. like CRX above said they will likely make you stay on as a guarentor so make sure that the person is going to make the payments or it could come back to haunt you.

[Bill Bumface]

Don't bother with the dealership, go straight to the Leasing company.

I have done it through a dealership. Rather painless if you know the person yer giving it to. I think it was about $425 or so to tranfer.

Be sure that it is removed from you credit, etc once the tranaction has takin place... and keep the transfer papers somewhere safe.