Lease Transfer in Philadelphia

Imagine going through a sudden financial pitfall. Sometimes, these things happen. Usually when you are least expecting them to, in fact. However, it does happen. A possible recession or a sudden downsizing at work might leave you out of a job. If you had leased a car, you would no longer be able to make the payments on the lease. This could lead to penalties and interest being charged, pushing you deeper and deeper. However, you can remedy this by doing a lease transfer. While most auto leasing agencies don’t appreciate their leaseholders doing the transfer option, Philadelphia Car Leasing allows it, and it is a very good choice for anyone unable to make their payments regularly.

How to Transfer a Lease

A lease transfer is the process of giving your lease, and all its responsibilities to someone else. This can be a relative or a totally stranger. The procedure results in you transferring your lease into the new leaseholder’s name, along with the remaining payments as well as the lease car.
You, the current leaseholder, will then be free of the responsibilities of paying the rest of the lease, without any penalties or fines. The new leaseholder (called the assuming leaseholder) will get an auto lease in brand new condition for the remainder of the lease period. They will have to pay the rest of the payments monthly, but will not need to make a down payment of any sort. This means that they get the car for an even lower price. The auto leasing company will have nothing to worry about, because the lease payments will go on as usual; hopefully without hiccups.

Procedure of Lease Transfers

When transferring a lease, it is important to us that all of the parties are treated justly. For example, giving the assuming leaseholder the responsibility of keeping on with the lease payments is a big deal. Giving them a car that has been misused to go along with those payments is very undesirable. Therefore, at Philadelphia Car Leasing we take the car during the lease transfer and inspect it for faults.
We make sure that the new owner gets the vehicle in the same condition as the current leaseholder did. This is because we need to make sure that the assuming leaseholder does not have to pay extra during the lease return process for damages incurred by the current leaseholder.
We ensure that all transactions are done fairly and we try to be as lenient as possible when it comes to damage inspections. It is because we are fair that our customers usually pay fines without any complaints and we usually get many of them coming back for a second round of business!
Why don’t you contact Philadelphia Car Leasing on 570-698-CAR (2277) today and inquire into the process of lease transfer when you do business with us? Our agents are the most helpful in the State of Pennsylvania.