Lease Assumption

Years ago, signing for a new-car lease was a lot like checking into a cheap hotel: It lured you in with its twitching neon sign that read ‘lower monthly payments’; but once inside, the creepy bellhop informed you of their policy ‘you can check in any time you’d like, but you can never leave.’ You’d be trapped in both a contract and probably some weird Eagle’s song – but does it have to be this way?

Early Termination or breaking a lease contract used to be a huge endeavor often leading to thousand dollar fees, catastrophic penalties, and frustrated clients. Luckily, things have evolved. The contracts are still as ironclad as ever, but terminating no longer needs to empty you of your savings account and your peace of mind.

If you find yourself trying to break up with your lease, chances are “it’s not you, it’s me” probably won’t cut it. However, there is a relatively inexpensive avenue of escape: Transfer your lease.


It’s important to note that lease transfers benefit both the seller and the buyer equally. Not only does the buyer get to acquire a lease with significantly less time commitment, there are also considerably less fees that are required up front -- making lease assumption the all around best case scenario for both parties involved. Compared to the $1200-$3500 usually due upon signing for a new lease, lease transfers only require upfront application and listing fees (generally totalling under $500), ultimately minimizing the buyer’s expenses ten fold.


Lease transferring is a simple way to get out of your lease and usually takes about five minutes to get started. It’s essentially like selling your car online – only you’ll be prompted to provide information about your lease in addition to information about your car (ie: how many months are left on your lease, monthly payments, etc.) You could even incentivize buyers to take-over your lease by giving an extra amount of cash at the date of transfer to make their monthly payment lower, but that’s not mandatory.

After you complete your listing, Carvoy takes over and works its magic to your benefit. There, buyers in the market for assuming a lease can view your listing. Once a potential buyer indicates an interest in moving forward with the deal, Carvoy uses its own proprietary tools to provide you with everything that needs to be completed to finalize the transfer in real time.

Some people might be weary that they are giving up their lease to untrustworthy people. Carvoy eradicates this problem by providing a mandatory manufacture credit application for the buyer that will then be submitted to the bank that is financing the lease. The buyer’s credit must either match or exceed the sellers in order for the buyer to get approved.

After the buyer gets approved, a credit company inspector will assess if there is any damage on the vehicle, at which point you will either need to repair any damages or compensate the buyer for future repairs.

Next, the buyer must insure the vehicle and finalize all remaining paperwork to be submitted to the credit company. Once the information is processed, the transfer is complete!


The bulk of the time it will take to transfer your lease will probably be due to the amount of time it takes to find a serious buyer in the market. Lease sellers can expect an inquiry from a serious buyer about a month after listing. After the buyer is located, the leasing company usually needs about two weeks to finalize paperwork.


Usually, online lease-transfer sites will charge a fee to list a lease. Listing on Carvoy. However, is 100% free of charge until the actual date of transfer. Meaning, using Carvoy will minimize your expenses and avoid making you pay unnecessary fees – there is indisputably no harm in trying when you work with Carvoy.

Additionally, a leaseholder might be interested in incentivizing a potential buyer with bonus cash in order to grab consumers’ attention. Choosing this option is appealing because regardless of the amount you choose to incentivize, it may very well be less than the fees involved in just returning the car to the dealer. However, It’s important to note that this option is entirely voluntary and is in no way mandatory to list your lease.

Lease Transferability

It depends. Most leasing companies recognize that being flexible when it comes to lease-transfer rules fosters a good relationship with the initial leasee while simultaneously onboarding a new customer. That being said, every leasing company has different regulations when it comes to lease transfers. Here are a few popular one’s:

  • Nissan Financing Company: only allows transfer leases with over seven payments remaining; charges buyer $250 application fee.
  • BMW Financing: only allows transfer leases with over six payments remaining; charges $100 credit application fee.
  • Ford Motor Credit Company: no restrictions on remaining payments; charges $75 credit application fee

Your best bet would be to check with your leasing company to determine any restrictions before listing.

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