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How To Terminate Your Car Lease

Mar 18, 2008
When it comes to a person wanting to break away from a car lease, which they have taken out they often will incur a very heavy penalty for doing so. However, there are now things that one can do which will help to prevent this problem from happening to you if you have a leased vehicle at present.

Below we look at the companies who are now offering a service that will match the owner of a vehicle who is trying to get out of a lease, with someone who is willing to buy into it. These companies, for a fee, will help through their online service to match the right lease seller up with the right buyer.

It is these companies that will once a deal has been made arrange for the transfer of the lease and the title documents to the vehicle from yourself to the buyer. It also the role of these companies to help not just the seller but the buyer to negotiate their way around the complex legalities associated with the transference of the lease from one person to the next.

If you are thinking about using the services of anyone of the many lease-trading companies that are online, you need to factor in certain things. The first being that you will be expected to pay will be their fees for using their services. The initial fee that you are going to be charged for setting up the listing will be between $30 and $130. Plus along with this, some companies may also charge you a further fee of between $95 and $150 to carry out the transfer.

However, what you will often find is that the fees that these companies charge you for using their services will be far less than those you would expect to pay to either a lease company or a car dealership. In a lot of cases where people have chosen to terminate the lease on a vehicle, the dealer or lease company has required any monies that are owed to be paid in full along with a fee for termination of the lease. Whilst there are other dealers and lease companies who instead will require that you actually purchase the vehicle from them.

When a person sells a leased car through a lease-trading company, they list the vehicle with them and then any potential buyers will contact them directly. Once contacted, it is then between the buyer and seller to negotiate the price at which they are both happy with.

After a deal has been brokered then once again the lease-trading company becomes involved, as it is they who will arrange for the necessary documentation and paperwork to be completed. It is this paperwork once completed will ensure that the transfer of the lease and the vehicles title deeds have been done correctly.

When it comes to selling a car lease using a lease trading company you need to be aware that most car manufacturers and dealers are happy for such transactions to take place. However, there are some companies, Audi and Nissan are just two, who still require the original lessor to retain some liability for the vehicle once the transfer has taken place.
About the Author
For more insights and additional information about Car Lease Programs as well as getting a free car lease or car loan quote online, please visit our web site at http://www.car-loan-resources.com/car-leasing.php
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