Lease transfers in New Rochelle
A lease transfer is a process in auto leasing that involves a lessee transferring ownership of his or her lease to another party. A lease transfer is an excellent way for a lessee to get out of a lease contract without having to pay a large compensation fee. Some companies in New Rochelle prevent this procedure as they deem it to be a risk on their business. Furthermore, it requires additional administrative work. By preventing lease transfers, lessees only have one option if they are in a situation where they need to get out of a lease; they will have to pay the full compensation fee which can amount to a rather large value.
Benefit of a lease transfer
Getting out of a lease without having to pay a hefty fee is just one of the benefits of a lease transfer. A lease transfer has three stakeholders; the lessee, the assuming lessee and the auto leasing company. From the car leasing agency’s perspective, their lease contract will be fulfilled by another party so they gain as well. The main beneficiary is perhaps the assuming lessee. The assuming lessee gets to drive a relatively new car for a short term without any money down. In any case, a lease transfer is an excellent way to make use of a lease contract that would otherwise be terminated.
Lease transfers with New Rochelle Car Leasing
At New Rochelle Car Leasing, we understand the merits of this process and have opted to dedicate some of our resources to the concept. For starters, we recommend all our lessees who require getting out of a lease early to opt for a lease transfer. Secondly, we are willing to offer our resources and manpower to find a lessee to undertake a lease transfer. Finally, we accept requests by customers who are looking for lease sellers. We also accept requests by lessees who are not working with us.
While there are plenty of advantages to lease transfers, there are also certain aspects that need to be looked into. Firstly, when a lessee is looking to transfer a lease, it’s important that the vehicle has to be in good condition prior to the transfer. Failure to do so would result in the assuming lessee having to pay the auto leasing company on behalf of the original lessee. While most car leasing services do not get involved with the process and simply hold the assuming lessee liable for such damages; with New Rochelle Car Leasing, we perform a thorough check of the vehicles prior to the transfer process to ensure that the lease buyer will not be in a sticky situation.
In most cases, the lease seller may not be aware of the excess use of their vehicle and would be willing to settle any costs associated with restoring the condition of a car. By appraising the vehicles during the lease transfer, we ensure smooth transition of the vehicle.
If you are interested in lease transfers (either as a lease buyer or seller), give us a call and we’d be happy to assist you with the process. Our auto leasing experts have plenty of experience with the concept and should be able to give you the guidance you need. Contact us on 631-527-0050.