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Lease transfer questions

Regular Contributor

Lease transfer questions

Has anyone ever done a lease transfer? A friend of mine got a great deal and said it was a pretty easy process. I'm considering doing it, but I was curious to hear some feedback on here. I've also read conflicting reports about the credit requirements for qualifications. I'm predicting I should be around 680 when I take the plunge.

Thanks!
Starting: TU 616 (VS) EQ 598 (FICO) EX 619 (FAKO)
Current: TU 660(FICO) EQ 702 (FICO) EX 716 (FICO)
Message 1 of 3
2 REPLIES
Valued Member

Re: Lease transfer questions

When you say lease transfer, do you mean trading your lease in early for a new car or, do you mean transfer ownership?

 

If the former, you have to see what your orginal bank vaules the car. Just know that you will be rolling over negative equity if the car you are purchasing is more than what you are trading in after your quote. We in the same situation now. Trying to trade our 2011 Honda Pilot for a base Acura MDX. Good luck either way.

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Regular Contributor

Re: Lease transfer questions

I meant taking over a lease for someone through a site like leasetrader.com or swapalease.com
Starting: TU 616 (VS) EQ 598 (FICO) EX 619 (FAKO)
Current: TU 660(FICO) EQ 702 (FICO) EX 716 (FICO)
Message 3 of 3