Care to Swap a Lease?
Is it possible to transfer your car lease responsibilities to another private individual? The answer is yes. There’s what we call the Swapalease, a concept made popular by it. It’s a coined term that means shifting the responsibilities of one lessee to another individual without ending or changing a contract.
With this process, you can actually save money from not paying early termination fees and instead pay only a minimal fee for administrative costs. You might be thinking that the new lessee or the “buyer” as they call it is not to reap great benefits from this deal. Think again, this is a good opportunity for the buyer to test drive a late-model car inexpensively for a short time; this can be the best time for the buyer to decide on his next move for a car plan while enjoying a luxury car!
But there’s one thing that both the lessee and the buyer should not forget and that would be to include the leasing company in the picture. It’s the car leasing company’s sole responsibility to approve and conduct the whole process.
So if you don’t want fuss about a trade-in or paying a huge sum for early termination fee, you have the option: swap!