Handing your lease to someone else: the catches, in under a minute
How a lease transfer works: another qualified driver takes over your payments and the car, what leasing companies require, and the catches to check first.
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Transcript
Want out of your lease by handing it to someone else? A lease transfer can work, but there are catches. Here they are in under a minute.
In a lease transfer, another qualified driver takes over your payments and the car for the rest of the term. But not every leasing company allows it, and some keep you partly responsible if the new driver stops paying. Read your contract.
If transfer is not allowed or not worth the risk, buying the car out and keeping or selling it may be the cleaner move. Champion Auto Finance helps you finance a buyout. If transfer is not your path across New Jersey, New York, and Pennsylvania, visit championautofinance.com.
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