LEASE SWAP BROOKLYN
AUTO LEASE SWAP & AUTO LEASE TRANSFER
If you are looking to get out of a lease early in the New York City area, Signature Auto Group New York is the place to go. Car leasing is a great way to get into your preferred vehicle affordably. However, the obligation to stay with said lease until its term is up could be seen as a downside. Unexpected circumstances could occur, and you might be looking for an early lease exit.
Some leasing companies will impose costly early termination fees for those wishing to exit their lease early.
- Early lease exit fees. Many companies will charge anywhere from $200 to $500 as a separate early lease termination fee.
- Early termination charge. In most cases, your lease contract is simply a set total price you must pay divided by the months of the term. You must fulfill this obligation and pay the remaining balance when terminating a lease early. Sometimes, the value of your car could be higher than anticipated, or manufacturer early lease exit programs could reduce this significantly.
- On a lease, taxes are paid out monthly. The remaining tax balance will be added to your total fees when breaking the lease terms.
Another option, buying out the car outright, just isn’t feasible for many people. Thankfully, your local Brooklyn car leasing broker, Signature Auto Group New York City, can take that unwanted lease off your hands.
Signature Auto Group New York City – A Leasing Broker
Saving you a hassle, we utilize a Lease Transfer or Lease Swap to have someone else take over the duration of your lease. Our expansive reach, experienced staff, and extensive inventory make us a popular choice for those looking for lease swaps, ensuring that we’ll find a match for your lease in a timely manner.
Whether it’s a change in financial situation or you simply want a different car, our trained staff will guide you through the process.
To do a lease swap, you must first contact your leasing company. While the process is simple, a few lease companies won’t allow it as an early lease exit option. If it can be done, you should inquire about the applicable fees, as each financial institution will be slightly varied. The person assuming the lease will most likely need to pay a transfer fee on your behalf.
Suppose you don’t already know someone willing to take over your lease, no worries. Signature Auto Group New York will help you find a reliable party in the New York City areas. Once a buyer has been found, a credit check will be done to ensure they are qualified.
Once approved, both the seller and buyer will need to complete the proper paperwork to initiate the transfer. Our dedicated team of lease brokers will help you along every step of the way. Once the paperwork has been submitted, you’re free to turn in your keys.
Steps to a Lease Swap
- Find a Buyer. If you don’t have a local buyer ready, Signature Auto Group New York can help you find one.
- Your leasing company will require a credit check of the person assuming the lease.
- If approved, documentation will be sent to both parties for signatures and forwarded to the leasing company. Signature Auto Group New York is ready to help both parties with all the required documentation.
- Handover Keys. Once documentation is signed, you’re free to hand over the keys to the new owner. That documentation will be sent to the leasing company, and a confirmation will be sent back a week later. Lease payments will begin being sent to the new owner with the confirmation.
With your lease out of the way, you can feel free to look through Signature Auto Group New York’s extensive selection of lease cars at unbeatable prices.
While the lease transfer presents many benefits for the person exiting the lease, it also brings some benefits to the buyer.
- The absence of a downpayment allows for a lower upfront cost.
- High-Quality Vehicles. Car leasing stipulates mileage limitations and possible wear and tear fees. As such, cars currently under a lease are typically maintained better than their used counterparts.
- Less Commitment. With a lease swap, the new owner is only responsible for the remaining term. The abbreviated lease term represents an excellent opportunity for those who just need a car for a short period.
Signature Auto Group New York City offers a large selection of available lease swaps if you’re looking to take advantage of these benefits.