You Need to Know Before Car Leasing – Quitalease

You Need to Know Before Car Leasing  – Quitalease
28 Nov 2019

About Car Leasing – Quitalease

Not everyone prefers car leasing, but recent trends show that millennials would rent a vehicle than buy it. Unlike previous generations, millennials do not view car ownership as a status symbol, and they are more likely to lease a car than any other age group. Moreover, the added cost of maintenance often drives millennials away from the idea of buying a car. So instead, they lease it. For car enthusiasts, car leasing allows them to change their cars every two to four years. Hence, they can keep up with the latest technology in automobiles.

People favor leasing electric vehicles because technology keeps advancing. With newer EV models entering the market that provides more mileage and cut down on fuel costs, it is understandable that people want to drive economical vehicles.

However, it often happens that people want to get rid of a car lease. Financial reasons compel people to get rid of a car lease. To get rid of a car lease, you have options. These include defaulting on the payments, terminating the contract, paying fees and penalties, etc. But these options put you in a worse financial position because you either get a bad credit score or you end up paying more for the car lease than you planned.

If you want to get rid of a car lease, you have another option where you can have someone take over the car lease. In this, you don’t terminate the car lease contract; instead, you transfer the car lease to a potential buyer. This way, you don’t pay hefty fines and penalties, and you can get rid of the car without any problem. Lessees can get out of a car lease quite easily by getting rid of the financial burden on their backs.

Car lease transfer has benefits for the buyer as well. Instead of paying the entire lease payments to the dealer, you only have to provide the monthly leases for the duration you use the car. So a buyer can avoid paying the down payment to the leasing company. Hence, obtaining a car through car lease transfer is also economical for the buyer, as well.

However, finding the right buyer can be a hassle. You need to find someone who is trustworthy and is from the same area as you. Hence, a website like Quitalease provides a meeting point for car lease buyers and sellers. You don’t have to put effort into finding the right customer for the car lease. The website provides lessees and potential lease buyers a platform where they can communicate.

Quitalease

To put all your car lease worries to rest, Quitalease provides an online platform for lessees and car enthusiasts. You can find a range of lease deals on the latest cars, from family to luxurious cars. With Quitalease, lessees have the opportunity to connect with car enthusiasts who are willing to take over a car lease. You can find details regarding the lease deal and the car features by going through the listings. The website boasts car lease deals from various top car manufacturers, including BMW, Ford, Audi, Honda, Aston Martin, Cadillac, and others. Moreover, Quitalease has listings from all the major cities throughout the US, such as Los Angeles, New York, Miami, Chicago, San Francisco, and others.

What makes Quitalease unique is the variety of car listings on the website. It makes it easier for buyers to directly connect with the sellers, without having to go through a third-party. Hence, there is transparency in the entire process.

Sellers

A seller has to create an account on Quitalease to register their car on the website. You’ll have to provide relevant details, including name, email address, and mobile password, to set up your account. To put your car listing on the website, you need to create an ad. The ad should mention details such as the car leasing duration, the starting, and the ending date of the car lease. In addition to this, you must give details regarding the features of the car. You must be accurate and provide the correct information. Be as detailed as you can when providing the features and information regarding the lease car deal, because it helps the buyer in making a decision.

When someone replies to your ad, make sure to respond to their request as soon as possible; otherwise, the buyer will lose interest quickly. If you want to transfer the lease on your car, you must be willing to help out potential buyers as much as you can.

For more information visit: Tips for Car Lease Sellers

Buyers

As a buyer, you must be aware of the requirements for the kind of vehicle you require. On the website, you can search for a car according to the make and the model. Moreover, you can search for a vehicle depending on the location, as well. In addition to this, before talking to the lease seller, go through the ad. If you are interested in taking over the lease, approach the lease seller by sending a message through Quitalease. You can also arrange a meeting to inspect the car in person. Ask the relevant questions regarding the vehicle.

To ensure that a lease buyer secures a car lease, here are a few points to keep in mind:

  • You must have a good credit score report.
  • Check the lease end date and the months remaining.
  • Ask the original lessee if there is a buyout option available or not.
  • Check the condition of the car through physical inspection.

For more information visit: Tips for Car Lease Buyers

Lease transfer process on Quitalease

If the buyer and the seller strike a deal, the seller has to initiate the lease transfer process.

To initiate the lease transfer process, the seller provides the relevant documents to the leasing company. These include the lease transfer application, the credit score of the potential lease buyer, the insurance verification document, the odometer statement, and other documents.

The transfer process takes anywhere between a week to a month. The leasing company does a background check on the buyer of the car lease. If the leasing company approves the lease application, your buyer can take over the car lease, without any hassle.

Even though the new lease buyer takes over the car, the original lessee (the seller) may be held responsible for the car lease. Hence, when a seller has to choose a buyer for the car lease, they must ensure that the buyer will take care of the car.

Conclusion

Car leasing is a cheap and effective way of owning a car. But what happens when you can no longer afford it? In this case, transferring a car lease to someone else is an alternative. You can transfer the car lease to someone willing without having to pay additional fees and penalties.Quitalease makes it easier for you to find someone willing to take over a lease.

Featured Image by : pixabay

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Amir Saeed

Passionate about cars, love to ride muscle cars in particular. I am big fan of old and classic cars of various decades.