The term, sub-lease, as it applies to car leasing, means the act of transferring a lease from one party to another. Sub-leasing is usually called  “lease transfer” or “lease assumption.”

Transferring a car lease cannot be done as an agreement between two individuals. It violates the original lessee’s lease contract. However, with the lease finance company’s consent and help, such a transfer is possible and is a good, inexpensive way for an original lessee to get out of a lease they no longer want or can no longer afford. Be aware, however, that not all lease finance companies permit “sub-leases” (lease transfers). Anyone who is thinking about such an arrangement should contact their lease company.

There are a number of online companies, such as Swapalease.com, who help lease “sellers” find “buyers” who are interested in taking over car leases. It can be a good way for people who are interested in a short-term lease to pick up a bargain lease deal.