The year 2019 is all set to become one of the worst years for the automotive industry since the 2008 global financial crisis. Over 4 million fewer vehicles were sold this year as compared to 2018. The story is similar across the globe – from the United States to Germany, and even in growing economies like China.
On the other hand, car leasing has grown in popularity ever since it encountered a bit of a dip in 2008. In fact, with car leasing at an all-time high, customers are increasingly opting for it due to many reasons.
You may be wondering if you should spend your hard-earned money on directly purchasing a brand new car or getting one leased from a car leasing company. Either way, there are many factors that you need to keep in mind before doing so, because there is one other alternative that can give you the best bang for the buck, so to speak.
So what is the other option? Keep on reading to find out!
Car Lease Take over:
Taking over a car lease allows you to get behind the wheels of your favorite car through negotiating a deal with someone who already has a leased vehicle and wishes to transfer it. There are several platforms through which you can do this, though Quitalease.com is among those with the largest pool of vehicle options to choose from.
Quitalease - How does it work?
If a seller wants to exit a car lease, rather than terminating it, Quitalease can be used to transfer it to someone else. A major reason why the lease transfer option is better is that it helps the original lessee avoid hefty fees in canceling the lease while the buyer doesn’t have to pay down payment because he/she can simply take over a car lease.
Quitalease provides the original lessee and the new lessee a platform to engage each other and make a deal. It is a win-win situation for both. The website is regularly updated with new cars added each day.
It offers features that can help you find your dream car within your budget range. You have probably envisioned the kind of car you want. The website caters to this need by providing you the option to search for cars by make, model, color, body styles, fuel types, accessories, and even the car interior can be used during the search. Quitalease also offers other filters that you can use, such as transmission type, mileage, and fuel efficiency. When you take over a car lease, you can look for your favorite vehicle within your monthly budget or even location.
Quitalease platform provides an interface that helps you conveniently browse through the car listings. As you can see in the image above, you can use the filters on the left to find a car in a lesser amount of time. Once selected, you can learn about the person willing to transfer the lease, the year the specific car was leased, and the leasing company involved in the lease. If you wish, you can also contact the company that originally leased the vehicle. If you’re running out of time or want to look at other options, you can save the listing for later viewing.
The aforementioned explains how you can use Quitalease to find car lease deals available to be taken over. Now, we’ll learn how to go through Quitalease.com and find the most suitable vehicle
Step-by-step guide on using Quitalease transfer a car lease
Step 1: Go to Quitalease.com
Step 2: Use the search option to find your preferred car.
You can use additional filters that can help narrow down the options. You can select make, model, color, transmission and a variety of other options.
Step 3: Browse and select from the list
Quitalease will provide you with a list of cars that match your search criteria. Go through the list and select your preferred option. You may also explore the ad in more detail to gain further information.
Step 4: Initiate the lease transfer process
Communicate with the original lessee using the messaging feature. If an agreement is made between the two parties, you will be required to send a credit application to the leasing company. The company will assess the application and decide if you are eligible to take over the lease. If accepted, the company then prepares lease transfer documents and sends them to both the buyer and the seller.
Step 5: Handing over the car keys
You can then take the keys from the original lessee. You are now responsible for completing the remaining lease payments.
Lease transfer suitability:
There are several reasons why it is better to opt for the car lease option instead of buying a new one. For one, you do not have to worry about the total cost of the vehicle. The lease transfer option allows you to drive your dream car without any upfront cash that you may not be able to afford otherwise.
Getting a car leased from a previous lessee can reduce the costs even further. If you find the right car, you may even have it under an official warranty, so you do not have to worry about potential repair costs either. Taking over a car lease from a platform like Quitalease still comes with plenty of options. An often-overlooked advantage to overtaking a lease is that you do not have to pay any down payment.
Those selling their leased cars often need to do so out of financial difficulties. In one way, you are helping them out too. You may even discuss other options with the original lessee to strike the right bargain.
However, there are several things you need to keep in mind when opting for a lease transfer. For starters, there are limitations on how much you can drive a year which is typically around 12,000 miles a year. Secondly, you may not be able to customize your vehicle. If you choose to return the vehicle at the end of the lease period, you would have to pay up extra money to remove those customizations.
Verdict:
The global auto industry is facing difficulties due to declining sales. People are choosing to save money instead of buying cars. If you are in such a position but need a vehicle within your budget, platforms like Quitalease provide the option to get your favorite car. However, it does not mean that you would have to compromise on factors like make, model, or color of the car. Quitalease provides plenty of options. There are more benefits to taking over a lease as well, especially if you want to commit to the payments in the short term. This is because you will continue making the payments on only the remainder of the lease term. It is up to you to decide how long a commitment you are willing to make. Now compare this to buying a used car. You may not find the car you're looking for from a used car dealer, but there's a high chance you can on a lease transfer website.
