Can you transfer a lease?

[aphex]

And if so, how does the whole process generally work?

My dad is considering taking over the lease of my wife's Murano. We are going WAY over our mileage and will likely owe 3-4k after the lease is said and done next year (the car is a year old)

My dad on the other hand drives 3-4 miles a day round trip.

Is it possible to transfer the lease into his name?
Or should he just take over the car and pay the payments?

 

[Tiamat]

i would think that depends on the terms of the lease (just like with apartments, some times you can sublet, transfer lease, sometimes you cannot without incurring huge penalties)

 

[compuwiz1]

Wrong forum....moving to the garage.

Answer, contact lender. It's possible, but they all have different policies and proceedures, as to what documentation needs to be signed. Person taking over must usually need to qualify for credit as well.

 

[Scouzer]

Originally posted by: aphex
And if so, how does the whole process generally work?

My dad is considering taking over the lease of my wife's Murano. We are going WAY over our mileage and will likely owe 3-4k after the lease is said and done next year (the car is a year old)

My dad on the other hand drives 3-4 miles a day round trip.

Is it possible to transfer the lease into his name?
Or should he just take over the car and pay the payments?

You can usually transfer with approved credit, but there's a fee... It's usually around $500

 

[boomerang]

I would pursue the transfer.

Bad things happen to good people. If your Dad were to have an accident, or injure a pedestrian, the consequences could be devastating to you as the owner of the car.

Please don't misunderstand my reply.