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Who would want to take over my lease?
- There are a variety of reasons that people might want short-term leases, including:
- Buyers may have a short term requirement, such as contract employees and out-of-town visitors, or they may consider your lease as an alternative to a more expensive, long-term daily rental
- Buyers may like the buyout amount on your lease relative to current market prices on comparable used vehicles
- Your lease payment may be better than current offers, due to increases in vehicle prices or interest rates, drops in residual values or because you put a sizeable down payment on your lease
- Your lease may have considerable kilometreage left on its allowable limit, appealing to a driver with high mileage requirements, such as an "on-the-road" salesperson
- Your lease may suit a person with seasonal requirements. For example, they may drive a convertible in summer and need a 4WD in the winter
- Your lease may provide a person with the opportunity to try a vehicle for a year before they choose to buy or lease one on a longer term
- Some may require another car and can avoid all the upfront costs of a new lease
Who can transfer a lease?
- It is the responsibility of the lessee to find out from the leasing company if a transfer is possible. All the details that will be required can be found in the "how to transfer a lease" section.
What is required to list my vehicle?
- We will need a complete description of your vehicle, a photo, the terms and conditions of your lease and your registration. Full details of the process of transferring your lease can be found in the "how to transfer a lease" section
Is there a cost to list a vehicle?
- Yes, there is a cost of $199 (plus taxes) to register and advertise your vehicle on the website for 60 days. In some cases, this fee can be waived. Ask us how.
Can I change the information that I originally submitted?
- Yes and there are two ways of doing it. Contact us directly or send us an email at reception@hamelbmw.ca.
How will I know if someone is interested in my vehicle?
- We will contact you to set up an appointment.
Is there any liability to me after I've transferred my vehicle?
- Liability differs with leasing companies. In most cases, the liability is transferred to the new lessee. We will help you determine what those liabilities might be during your initial appointment with us.
How do I know that the vehicle advertised is represented accurately?
- Each listed vehicle is viewed and photographed by our leasing specialist prior to being advertised. We review the documentation with the original lessee to verify authenticity and discuss details.
Is there a cost to find a vehicle on your website?
- There is no cost to search for a vehicle. Once you have found a vehicle that you would like, contact us for further details.
Can you change the terms on an existing lease?
- We cannot change the terms and conditions on the original lease. However, on occasion, we may be able to re-structure a lease on the same vehicle.
Can I buy the vehicle at the end of the lease?
- Each leasing company and manufacturer has their own set of rules and regulations. We will be able to verify that for you.
What are the costs involved in taking over a lease?
- Costs of transfer differ from one leasing company or manufacturer to another. These costs may become part of the negotiation between the original lessee and the new lessee.
What are the sub-lessees responsibilities at the end of the lease?
- Again, the responsibilities at termination of the lease vary from leasing company to leasing company and will be stipulated on the lease agreement. You will have the opportunity to go over the terms and conditions before the transfer.
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