When you are looking to get out of a lease in Canada you may think that there are no options. Sometimes this is true but rarely. The best option for getting out of a lease is performing a lease takeover. A lease takeover simply means that you are exchanging the responsible party of the lease. It may sound like a complicated process but it tends to be fairly easy and the leasing company would much rather see someone take charge of the lease than you default.
When you decide that you want to do a lease takeover the first step should be to read over your lease contract. Not every lease allows for lease takeovers. It is important to know whether yours does beforehand and what the conditions are. Some have fees involved and almost all have a fair amount of paperwork.
If you are the one with the vehicle, once you have determined that you are eligible for a lease takeover then you will want to list your car online. The best way to lease takeover in Canada is to use a popular car listing service specifically oriented towards lease takeovers. This means people who are interested in specifically taking over leases will see your car listing. It never hurts to post it on other sites in addition but you need to remember to take it off all sites once the lease is taken over.
As soon as you find a car that you are interested in or you find a person looking over to takeover your lease you will want to arrange to meet. All of the information about the car and the lease should be available for review. It is never wise to takeover the lease of a car or buy a car without seeing all of the history of the vehicle. Repair information and service records are important. Test driving a car is also important because you will want to make sure that it is a car that you like and want to drive.
After you have negotiated the deals of the lease takeover such as who will pay the fees or any incentives then it is time to go to the leasing company. Both the original leaser and the new leaser will need to fill out paperwork. A credit check will be performed just like if you were leasing the car brand new to make sure that you can afford the payments. As soon as all of that is done you will have completed the lease takeover. This is typically the easiest way to perform a lease takeover but there are a few other methods. For more info about lease takeover Ontario Canada please visit http://www.carleasecanada.ca/lease-takeover-ontario/