Most lease contracts allow another person to take it over. Websites such as leasetrader.com and swapalease.com connect lease sellers with people wanting to assume a lease.
These websites do charge a fee, and leasing companies may charge to run an applicant’s credit and transfer the lease. The person assuming the lease bears the bulk of the costs, though sometimes the lease will stipulate that the seller maintain some liability.
As a seller of a lease, you might have to put up some additional cash as an incentive. Buyers are typically looking for the best deal. It helps to have your vehicle in good condition and below the lease’s mileage limit too.
Going this route will take some effort and money upfront but is likely the best option for people with many months remaining on their lease. Romano is currently listing her Lexus for a lease swap.
