If you’re looking to hit the road in style without the long-term commitment of owning a car, car lease takeovers might just be the thing. It’s a smart move for many reasons, – avoiding the hefty down payments and long-term commitments that come with buying a brand-new car.
However, finding the perfect lease takeover deal is easier said than done. In this article, we’ll introduce you to the top 3 car lease takeover platforms to keep an eye on in 2023. In the next 5 minutes, you’ll know the best platform that will help you score that dream car lease takeover. But first, let’s start with the basics!
What is a Car Lease Takeover Platform and How Does it Work?
A car lease takeover platform is a service that matches people who want to leave their current car lease with individuals who want a new vehicle without committing to a long-term lease or purchasing a brand-new car.
The lease seller is looking to end their lease term contract early so they want potential buyers that may take over their lease along with their vehicle. A person can quit their lease for a myriad of reasons.
The seller wants a bigger car because their family increases, they are not happy with their current car, or they might have simply gotten bored of making all the lease payments. So instead of feeling miserable about their current vehicle, they can use a lease takeover platform to find a buyer that can take over their lease.
Once the lease seller has found a buyer, the buyer takes over the vehicle’s lease agreement and gets the vehicle. A lease takeover may be the least expensive option to get a wonderful car, depending on the lease terms, the present state of the vehicle, the length of the contract, and the terms the selling party is providing.
All car lease takeover platforms work pretty similarly. You sign up as either a lease buyer or lease seller. If you sign up as a lease buyer, you can search according to the vehicle’s manufacturing year, brand, color, lease cost and how many payments remain on it. You can also search for vehicles that are near your location.
When the buyer finds the vehicle that suits their needs and budget, they will then contact the lease seller to discuss further terms until they reach an agreement. Some car lease swap platforms in the USA may also charge a small fee when a deal is finalized.
3 Best Lease Takeover Platforms in the US for 2023
Now let’s look at the top 3 best car lease takeover platforms that you need to check out.
1. QuitaLease
The QuitaLease car lease swap website is a solid platform with a wide variety of vehicles offered at a great price. The process of taking over a car lease is also quite smooth and efficient and ensures the transaction process is quick.
The site is easy to use as its layout is focused on user-friendliness. Simply explore the lease transfer section of the website, register for the car lease finder site, and search the platform for lease vehicles that suit your needs.
The QuitaLease car lease swap website displays a number of options that don’t call for a down payment and incorporate all associated expenses into the monthly lease payment. As you don’t need to put much money down in the leasing amount, the platform also shields you from further fees.
Another benefit of using Quitalease is that lots of lease sellers will cover any upfront fees and ensure the transaction goes smoothly for both the buyer and the seller.
If you’re having problems finding a suitable lease takeover on the car you like, Quitalease enables you to broaden your search for all the different varieties of your dream car. By doing this, you can discover deals that would not otherwise be made visible to you.
The “LeaseMatch” algorithm, used by Quitalease.com, is a cutting-edge AI platform that expertly pairs consumers with their ideal lease exchange partners. Users will save time and effort by finding the ideal match for their lease needs as a result.
2. Swapalease
Swapalease is another popular car lease swap platform in the USA that has many users and a wide range of vehicles ranging from SUVs to family cars such as sedans, SUVs, and hatchbacks. You must register for the platform before you can start looking for lease takeover options.
The platform offers a large selection of cars for users to select from. This makes it possible for potential buyers to swiftly enter into short-term leases. This is especially helpful for people seeking a car without having to put down the significant amount of money that is typically needed when taking over a new lease.
On their website, Swapalease charges both buyers and sellers. For sellers, there are basically three price tiers:
- Tier 1: The lease seller must pay $74.95 for a one-photo ad and a $200 success fee if the lease is sold.
- Tier 2: To join the “Swapper’s Club” second payment tier, you must pay $199.95 for a 12-photo advertisement (the success fee is included in the package).
- Tier 3: For $299.95, you can publish 36 photographs that are featured for a period of two weeks with the Swapper’s Club Gold package, which also includes the success fee.
In addition, the lease buyer must pay a fee ranging from $34.95 to $79.95. They must also pay any lease-end fees, the lease transfer fee charged by the leasing firm, and the registration fee.
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The lease transfer procedure used by Swapalease is regulated and uniform. This procedure normally includes credit checks, the leasing company’s approval of the lease, and the submission of the required paperwork. This guarantees both parties a secure and easy takeover deal.
But the platform isn’t perfect. It has a few flaws that need to be pointed out. Swapalease charges an exorbitant amount if you want to increase your chances of your lease getting traded.
But Swapalease still doesn’t guarantee that your deal will be complete and you will find a suitable buyer for your vehicle. Buyers should also be aware that Swapalease does not verify the condition of vehicles posted on their platform.
All information is provided as-is and isn’t verified so it’s up to both the seller and buyer to verify and inspect the vehicle before reaching an agreement. It also charges both parties an exorbitant fee when the deal is finalized and the lease takeover is complete.
3. LeaseTrader
The third and final lease swap platform on the list today is LeaseTrader. It functions similarly to the other platforms on the list and is a dependable option for those looking to swap their leases.
In order to transfer their lease, the lease seller first prepares a listing. They outline the vehicle’s specifications, the lease’s conditions, and any further incentives they might be willing to offer the buyer.
Prospective buyers browse the available listings. To locate the best price on a lease they can take over, they can use filters to narrow their search by vehicle make, model, location, or specific lease terms like pricing or remaining months.
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The messaging system that is part of Leasetrader’s platform is used by the buyer and seller to communicate once the buyer finds a suitable match that meets all of their criteria. They are free to raise any questions and discuss and negotiate the details of the lease transfer.
The lease takeover procedure starts once an agreement has been reached and a deal has been sealed. Usually, the lease buyer submits a credit application to the leasing company.
LeaseTrader charges vehicle sellers for uploading their vehicle listings. The platform has three price tiers. They are:
- $99.95: 15-photo listing
- $199.95: A week of high exposure (social media marketing, prominent listing, suggested results)
- $249.95: 30 days of high exposure
The lease sellers are charged by LeaseTrader a non-refundable $149.95 flat fee once their lease gets sold too. The lease takeover party also has to pay the platform fee for using the system. There are three tiers:
- $9.99 per month for 6 months
- $19.99 per month for 2 months
- $34.99 for one month
So the base fee is just for using the system and doesn’t include a commission fee on every successful trade which makes LeaseTrader the costliest platform on the list.
Our Pick for the Best Lease Takeover Platform
QuitaLease is our winner today because the platform has a great range of vehicles available at fair prices. The platform doesn’t have any hidden fees and its customer support guides both parties through the lease takeover process so that it goes as smoothly as possible.
Its search system is also executed perfectly as it lets you narrow your searches by the make and model of the vehicle, your preferred city/town, and even how much of the lease is remaining on your purchase. It makes QuitaLease the most user-oriented platform on our list.
