Does your lease company not allow lease assumptions? Is your lease transferable only if your name remains on the lease contract after it is assumed? Do you want out of your car lease completely, without risk? If you answered yes to any of these questions, then the LeaseTrade.com ReLease program may be right for you!
What is the LeaseTrade.com ReLease program?
The ReLease Program allows a lease seller to completely get out of his or her lease even with lease assumption restrictions or unpopular secondary guarantor policies. This program offers a powerful way for you to get around these limitations and get out of your lease without further obligation.
How does the ReLease Program work?
The ReLease program simply matches your vehicle up with a new lease quote from a leading bank and advertises it to willing buyers on our marketplace. With a new lease quote applied to your vehicle, we will advertise your "for lease" vehicle with the new monthly lease payment on our website just like any other vehicle available for assumption. Willing buyers will contact you by email and phone asking questions about your vehicle.
Once you have a lease buyer willing to take over your vehicle, the buyer will be connected with our lease broker to begin the credit approval process. Once your buyer is credit approved, a new lease contract is drafted and sent to the buyer. After the buyer signs the lease contract, the lease broker will payoff your existing lease removing you from any further lease obligation! All of this is performed with the assistance of a trained and certified lease broker to ensure a smooth and speedy transaction, often within days of a buyer being found.
What lease companies are involved in the program?
Our lease broker works with a number of major lease companies such as US Bank, Wells Fargo, Car Lease USA, and Standard Finance to put together an attractive lease package for your vehicle. Your buyer will benefit from a competitive monthly lease payment and flexible lease terms. Your buyer will also be pleased to know that if he or she, at some point in the future, may need out of his or her lease, the new lease will allow them to perform a lease assumption.
Are there any negatives that I should be aware of?
Your lease payoff, which is used to generate your new lease quote, may include early termination fees as part of your total payoff. Often these fees are unavoidable as stated in your lease contract. Thus the quoted monthly lease payment may be slightly higher than what you currently pay. In the majority of situations though, we are able to find the right lease program for you to offer a competitive monthly lease payment and competitive terms to your prospective lease buyers.
How much does the ReLease program cost?
The LeaseTrade.com ReLease program costs $295. The ReLease program fee is paid up front and includes the generation of a custom lease quote, placement of a Deluxe Ad on LeaseTrade.com, and credit checks on up to three willing lease buyers. Beyond that, this program is all inclusive and we do not charge any other fees for the program. For more information about what is included in our Deluxe Ad package, please visit our Sell a Lease page.
What is needed from a lease buyer to take over my lease?
To take over your lease, buyers must become credit approved by the lease company and then sign the new lease contract. Our lease broker will handle all of the paperwork and overnight documents to both parties to complete the transaction. Once the buyer has received credit approval, signed the new lease document, and returned the signed contract with a check for the first month's lease payment, the transaction is complete on the buyer's side.
What if I already have a buyer for my car?
We can help you as well. Contact us for further details on how to proceed.
Have additional questions?
If you have other questions or would like more information about the LeaseTrade.com ReLease Program, please contact LeaseTrade.com Customer Support for additional details.
How do I get started?
Contact your lease company and request a "dealer payoff amount". The dealer payoff amount is the payoff amount without sales tax (if applicable) and will be used to generate your ReLease quotation. Lease company phone numbers can be found on your lease contract or on our Lease Company policies page.
Once you have your dealer payoff amount, contact LeaseTrade.com Customer Support to get started. We will generate a lease quote and if agreeable, post your vehicle ad on LeaseTrade.com using the new lease quote to begin advertising your vehicle. Once you have a buyer, call us with his or her contact information (name, email address, and phone number) and our lease broker will begin the ReLease processing. Once the new lease contract is signed by the buyer, your lease payoff will be made directly to your lease company and you will be completely free of your lease. At this point, the buyer will make arrangements to pickup the vehicle or have it transported to their location.
Program Notes and Disclosures (updated 6/13/08):
-ReLease program fees are non-refundable.
-While we try out best, there is absolutely no way we can guarantee the success of a ReLease transaction.
-Since we have renegotiated the terms for offering the ReLease Program, all Release customers prior to 6/13/08 are ineligible to participate under the new terms. All existing ReLease terms will continue to remain in effect for previous customers.
-Market conditions for lease terms quoted as part of the ReLease Program may change from time to time and all lease quotes are subject to change without notice.
What would you like to do next?
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