Swapalease

Welcome to the Swapalease Weblog!

We've created a BLOG for anyone interested to learn more about the lease transfer, lease assumption, lease swap, lease trade or lease exchange business. 

Swapalease.com is the world's LARGEST lease assumption marketplace with over $1 billion worth of vehicles listed and the highest conversion rate of any on-line leasing marketplace. 

Do you want to exit a car lease early?  Swapalease can allow you to exit your car lease early with no penalties.  Simply transfer your lease to someone else and walk way with no penalties.  End your car lease early at Swapalease.com!

Quick Facts about Swapalease

Quick Facts

Year Founded	1999
Company Locations	Cincinnati, Ohio Columbus, Ohio
Annual Visitors	3,000,000+
Leases Transferred	Thousands
% of Leases That Initiate Transfer	52%+
Duration of Average Lease Posted	21 months
Number of Active Leases on Site	7,000 - 9,000
Types of Leases Posted	Lease Auctions, New Lease, Lease Transfers, and For Sale Postings
Volume of Lease Transfers	$400 Million
Volume of Vehicles Listed	$1 Billion
Geographic Footprint	USA & Canada
Sister Site	www.lease-advisor.com

Swapalease Launches Lease Auctions!

Swapalease.com (http://www.swapalease.com), the world's largest automotive lease marketplace has launched an online lease auction service. Swapalease connects automotive lease sellers with buyers who are willing to take over their remaining lease payments.

The new auction format allows lease sellers to put their car leases up for bid. Buyers can then place their bids over a seven day period. At the end of the auction, the highest bidder that meets the reserve price of the auction wins. In the event that the bid amount is lower than the actual payment, the Seller will provide a cash incentive to the Buyer to make up for the difference.

"It's a win-win situation for both parties in a lease transfer," says Pawan Murthy, Director of Marketing of Swapalease.com. "Auctions provide the ability for a lease seller and a lease buyer to find each other and agree on a price quickly and fairly." In a lease transfer, the buyer assumes the remainder of a seller's auto lease. The buyer starts making the payments, and the seller exits the lease early without any penalties or fines. "Swapalease auctions are very easy to set up and give lessees the ability to exit their lease in days -- saving thousands. We launched this service at the start of the year and already we are seeing many happy customers."

Swapalease.com now serves all 50 states in the U.S.A. and all ten provinces in Canada. Customers can search listings in both countries and use the Swapalease team to help facilitate their lease transfers when they find the vehicle they are interested in. Since 1999 the company has transferred over $400 million worth of automotive leases from every state in America.

Concerns about Lease Liability?

Please be aware some leasing companies will hold the original lessee liable on the lease until the end of the term. Meaning once a buyer is approved to take over the lease the next lessee will be added on to the original contract so the current lessee becomes like a co-signer on the lease.

Due to the leasing companies strict policies when doing a lease transfer it is very unlikely for the next lessee to default on payment. The person will need to have as good or better credit than the next lessee.

Please note that the next lessee will become the primary on the lease and they will not be able to just stop making payments without the leasing company taking proper action.  Furthermore, the leasing company will not approve one to take over a lease that might be a high risk due because the leasing company does not want to have to collect from someone. 

However, we do understand that this is a concern to some people so Swapalease.com does offer other options. First is our “Peace of Mind” program. If you like to find out more about this program please visit: http://www.swapalease.com/leaseDefault/intro.asp.

Alternatively there is our “New Lease” program.

Our "New Lease Program" helps people that own leases with Leasing Company's that do not allow lease transfers (or would not want to remain obligated to a lease once transferred).  Here is how the program works:

1) Swapalease.com will call your leasing company for the dealer payoff

2) Swapalease.com will set up new lease figures (based on payoff)

3) Swapalease.com will list your vehicle until it sells and assist in the final paperwork

All you will have to do is drive your lease as normal, but once the buyer is in the picture we will buy your lease and re-lease it to the new party!

What is a Lease Transfer?

A transfer of a lease will allow one person to transfer their leasing obligation to another party.  All lease transfers have to be permitted by the leasing company and have to abide by the leasing company’s polices to do a transfer of lease.

The next lessee will have to be approved by the leasing company to take over a lease. The next lessee will have to have around a 680 credit score of higher to take over a lease on a vehicle.

Please note that Swaplease.com does not make credit decisions only the leasing company can approve or deny someone’s application for a lease transfer. Once a person has been approved by the leasing company the final documentation will be sent out by the lender for both parties to sign off on.

Why a Seller would use Swapalease.com

Your vehicle will get national exposure, meaning it will be seen by thousands of interested lease buyers.

Swapalease will walk you through the transfer process with your leasing company. Not only will Swapalease assist you in finding an interested lease buyer and guide you through the lease transfer process with your leasing company, but also help assure that you are transferring your lease properly per your leasing company’s policies. In no way does Swapalease support transferring leases without your leasing company’s knowledge and/or the sub-leasing of your leased vehicle.

Why a buyer would use Swapalease.com

When a buyer assumes the remainder of an in-process lease, you get the benefits of a late model, low mileage vehicle with no down payment, payments which may have been subsidized by the original lessee with a cash down payment and a short-term lease with a lower payment which originally reflected a longer term lease.

Happy Buyer

Great opportunity to get an awesome deal. I am very pleased and recommend their services to anyone in need of a car. Check taxes in your area before you shop. Swapalease will be used once again when I get my next vehicle.

Thanks! GM

Testimonial

Dear Jenny-

To say that you were a big help during my recent lease transaction would

be a gross understatement.  I am very happy with my new vehicle and the

way you were available at all times to help all of us out along the way.

I give Swapalease.com high marks for customer satisfaction and service.

Thank you.

Michael

645Ci

Just wanted to let you know my car is on its way to NY as I write to you. It was picked up today. Everything singed sealed and delivered.

Thank you for all your help in every phase of this transaction. Swapalease is the Best.

Thank you for everything.