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| Car Lease Takeover | ||
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The term, car lease takeover, generally refers to the process of transfering a car lease from the original leasing party ("lessee") to another party. When this is done, the lease company ("lessor") must be involved in completing the necessary paperwork to make the transfer legal. You can't do it without the company's approval. It's written in all lease contracts. Some lease companies do not allow lease takeovers. Some prohibit takeovers within certain time periods, such as the first 12 months of the lease term. Even when the lease company permits takeovers, they may require that the original lessee remain responsible if the new lessee fails to make payments. There are companies
on the Internet that help match up people who want out of their lease,
with people who want to take over a lease. Swapalease.com For more information, see: The Lease Guide
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