Seller Tips for a Successful Lease Assumption
Are you looking to post your vehicle on LeaseTrade.com? Before you begin the ad posting process, make sure to familiarize yourself with these pointers to maximize your ad's effectiveness. By following these simple tips, lease sellers have been able to increase their success rate by over 50%!
- Include a full description of the vehicle on your ad including color, mileage, engine size, options, and any other details that would be helpful for a buyer.
- Include a cash incentive payment to motivate buyers to assume your lease! Commonly used incentives include cash to the buyer, cash to cover excess mileage or cash payment of lease transfer fees.
- Have your lease contract handy when listing. It contains important dates and details that will make the ad creation process easier.
- Include a vehicle photo! A picture is worth a thousand words (as well as improves your response rate).
- Include your Vehicle Identification Number (VIN) on your vehicle ad. Lease buyers want peace of mind that the lease car has been properly taken care of and an inspection of the vehicle's history with a Carfax history report will do just that.
- Accuracy is very important. If you don't have all the information when you first list, be sure to update your listing with the correct information as soon as possible.
- Check for information on your lease company's particular policies. Not all lease companies support lease transfers, so please familiarize yourself with any restrictions, fees or policies that your lease company may have.
- Keep your vehicle in good running condition. Have all required service checks performed and take care of any service needs.
- Keep your vehicle exceptionally clean. A great appearance helps sell your car.
- Immediately respond to all questions that you may receive. Speed of response greatly increases your chance for success. Check your e-mail daily for messages from interested buyers.
- Have copies of your lease agreement and service records available for buyer inspection. Remember that most dealerships and service centers can supply you service records at no cost.
- Compare your lease with others on the site. You can add various incentives to help sweeten the deal (i.e. cash, free shipping, vehicle accessories, payment of transfer fees) if you feel that the lease you are offering is not as competitive as others or if you need to sell the vehicle more quickly.