I’ve considered picking up a car from swap a lease. I was going to get a short term lease to wait for the Tesla Model Y to come out but I caved and bought the Model 3. Not a lot of people are aware of it. Great topic to cover!
Haha. I'm actually thinking about the Model Y too! Lease takeovers does look pretty enticing if the numbers are right. How are you liking the Model 3 so far?
Naam Wynn - Personal Finance & Investing To answer the why I will only buy Tesla cars for the foreseeable future 😂. It makes every other car seem silly and very happy with the price I got! Hope you document buying the Model Y! If you get it you can use my referral link and we both get 1,000 miles of free charging 😃
Thanks man! I move the location of my filming to corner of my room, so i have to be a little more creative of how to make a little bit more visually appealing. I like simple rules that gives you a quick estimation to see if its work it or not. Then if it does, thats when the deep research happens!
Thanks for the vid. I just ordered a new 2022 vehicle but may take months to get. I just need a 12 month lease and was considering swap-a-lease but what are the risks for me. example - what if the person fails to deliver the vehicle after I'm legally bound to the new lease? Is there any way they could deliver a crashed vehicle and just hidden the crash damage? Seems pretty risky on the buyers side. Thx
I just leased a 2022 vw Taos, traded in my 2016 Jetta which was an excellent car. I dont really like how the new car drives! It's really cool looking and has great features but honestly I want something different. I don't suppose there is a grace period but I will consider lease swap unless you have any better ideas. 126 mes on it got it a week ago
This video is great! I’m probably going to be in the market for a car in the next 2 years. It all depends if I move to the city or not. These are so great tips!! I didn’t even know about cash incentives offers!! Great video and information!!!
If my Credit score is fair and im attempting to get a vehicle on swap a lease is it possible to have a co signer with me for that swap a lease? Making it 3 people that would be involved in that lease. Is this a possibility? I would be going through Tesla financial.
I’m a bit confused . So you can post your lease car on the website and someone will take over . Then what comes after that for me ?? Like no more car payments ? Like I’m free ? I’m confused 😭 Does anyone know if Honda allows this ??
It seems like something that is best for people looking to solely swap a car. I'm looking to get rid of the car and heard of this as an option to get rid of it but not fully. Would someone be able to post their car to lease without looking to obtain another car to lease?
Hey @Naam Wynn. Looking at a 2022 Audi a3. My credit isn’t not good but my company is paying me a vehicle allowance. Would I be able to takeover the lease?
It’s going to be difficult, unless you find a lease that started with a similar credit score to yours. It still worth a try to ask for the financing specifics
Is there such a thing as lease"scam?". In August,we returned our car to the dealership and they were going to send GM financial a pay-off. Here it is,2 months later and GM financial is still calling and leaving me messages for payment!!
Hi Naam, excellent video, very helpful! I am actually looking into swap a lease to pick up an M5. Can you please explain a little more about the mechanics of the cash incentive? I know you said the monthly payments to BMW Financial will be the same as what the original lessee paid...so how does the cash incentive come into play?
Hi brother!! That's a very detailed and informative about lease swapping. I have a question though: I live in Virginia, and trying to lease transfer a car registered in NY state.The car is 16 months old. What taxes and fees would I be paying if I registered this car with VA DMV? I am trying to understand taxes here, but it's confusing. Thanks in advance.
I was thinking of going to swapalease. Finding a car with maybe 6 months left on the lease. Pay it off. Then sell it and reinvest into some asset. Would this work?
I am planning of taking over a lease, but I just wanted to know who is actually responsible for the additional fees, the seller or the buyer(me). i.e. safety inspection, carfax, lease transfer fee, administering fee etc. I just don’t wanted to be paying fees when I am not supposed to just to be fair.
So ask for inspections and Carfax it’s really what you want to go Negotiate, but those are more for the person who wants to take over the vehicle. Also if you are trying to take over her lease, Some finance companies they do charge an application to run your credit. But for the person who is looking to exit at least they are the one who pays the lease transfer fee
I am considering getting out of my 2019 Toyota Corolla Hatchback I leased it for 36 mo last year in May. Payments are 370.58 a month. It has low miles only 3400. Should I take a chance with Swapalease and list it or should I post elsewhere and save the 300 to list it and offer it as an incentive? Thanks!
See how much you can sell it for on Carvana or Carmax. If the price is close to the buyout price then go for. Contact Totoya financial first before considering swapping just to know the terms and your liabilities.
Hi man, i wanna walk out of a lease and Lexus said they wont sign any paper to transfer the lease to someone else. they cant do that. is that true?? thanks
It’s depends. I know you can’t swap if it’s the first 60 days or last 6 months of the lease. If Lexus/Toyota financial says you can’t then it’s really up to them.
![I.N "HALLUCINATION" | [Stray Kids : SKZ-PLAYER]](http://i.ytimg.com/vi/n5B5q1Hwt_U/mqdefault.jpg)
🚗Learn more about car leasing here 👇
ruclips.net/p/PL3P451EIH_bLTqzsdYUdwo5By6OxiBDa0
I’ve considered picking up a car from swap a lease. I was going to get a short term lease to wait for the Tesla Model Y to come out but I caved and bought the Model 3. Not a lot of people are aware of it. Great topic to cover!
Haha. I'm actually thinking about the Model Y too! Lease takeovers does look pretty enticing if the numbers are right. How are you liking the Model 3 so far?
Naam Wynn - Personal Finance & Investing To answer the why I will only buy Tesla cars for the foreseeable future 😂. It makes every other car seem silly and very happy with the price I got! Hope you document buying the Model Y! If you get it you can use my referral link and we both get 1,000 miles of free charging 😃
Haha for sure man!
Never know about lease Swapping. Amazing what you can learn on the internet. Great video very informative. I smashed the like button.
dude your lighting in your videos are always so good. I like that easy 1% rule. It keeps things simple
Thanks man! I move the location of my filming to corner of my room, so i have to be a little more creative of how to make a little bit more visually appealing. I like simple rules that gives you a quick estimation to see if its work it or not. Then if it does, thats when the deep research happens!
wow this was a great video!
So throughout really appreciate this info!
Thanks for the vid. I just ordered a new 2022 vehicle but may take months to get. I just need a 12 month lease and was considering swap-a-lease but what are the risks for me. example - what if the person fails to deliver the vehicle after I'm legally bound to the new lease? Is there any way they could deliver a crashed vehicle and just hidden the crash damage? Seems pretty risky on the buyers side. Thx
I just leased a 2022 vw Taos, traded in my 2016 Jetta which was an excellent car. I dont really like how the new car drives! It's really cool looking and has great features but honestly I want something different. I don't suppose there is a grace period but I will consider lease swap unless you have any better ideas. 126 mes on it got it a week ago
Good information!
Thanks Jake!
@@NaamWynn , can you send me a link to the light you use for your videos?
@@JakeBroe kit.co/NaamWynn/youtube-video-kit
if you take over a finance or lease will the company who owns the car ask you to verify income ? if your credit score is good?
That’s exactly what I came to ask. You would think someone would’ve mentioned that in their video.
Obviously yes
Bro you touched all bases!
Very detailed! Thanks a lot
This video is great! I’m probably going to be in the market for a car in the next 2 years. It all depends if I move to the city or not. These are so great tips!! I didn’t even know about cash incentives offers!! Great video and information!!!
I miss living in the city where are your needs are close by. I like not having a car. So much savings!
Why MSRP and not Invoice? Feel invoice would be much better than the inflated MSRP
THANK YOU!!!
Do I have to pay swapalease to contact someone who’s trying to get rid of their lease?
If my Credit score is fair and im attempting to get a vehicle on swap a lease is it possible to have a co signer with me for that swap a lease? Making it 3 people that would be involved in that lease. Is this a possibility? I would be going through Tesla financial.
Don't pay for swapalease upfront. Wait it out a month or more and they will offer you insane deals off lifetime membership. I think I paid around $30.
That’s great to know!
Have you successfully swapped a lease, i'm hesitant because i haven't seen too many people actually do it. Any other fees?
When I leased my SUV I paid taxes and fees upfront. Would I still have to pay the taxes again even though they were built into the lease payment?
dose the person taking over the lease get the benefit of the whole lease on their credit report?
What if the car you want is in a different state? Are there transportation options?
Hello, do you know if Honda Financial will allow a private party to take over a lease? Thanks 👍🏻
Do you touch base on the credit aspect of it? How would this be beneficial to me from a credit building perspective if any benefits
i kinda had the same question, did you ever find out if there is any credit benefits of taking a lease over?
I’m a bit confused . So you can post your lease car on the website and someone will take over . Then what comes after that for me ?? Like no more car payments ? Like I’m free ? I’m confused 😭 Does anyone know if Honda allows this ??
Great info, Residuals will remain same when it was leased
First time , right ? Suppose if I wanna buy after so I could avail Same old residuals ?
It seems like something that is best for people looking to solely swap a car. I'm looking to get rid of the car and heard of this as an option to get rid of it but not fully. Would someone be able to post their car to lease without looking to obtain another car to lease?
Is there an option like this for purchases?
Hey @Naam Wynn. Looking at a 2022 Audi a3. My credit isn’t not good but my company is paying me a vehicle allowance. Would I be able to takeover the lease?
It’s going to be difficult, unless you find a lease that started with a similar credit score to yours. It still worth a try to ask for the financing specifics
Can you ask to see their current lease contract to see the exact numbers?
thank you so much for this information!
Can I use my ein for this
What happens if take a lease from someone and i run the miles up Will I be responsible to pay for the miles when I turn the car in
Is there such a thing as lease"scam?". In August,we returned our car to the dealership and they were going to send GM financial a pay-off. Here it is,2 months later and GM financial is still calling and leaving me messages for payment!!
when we have a lease takeover Is there a related insurance policy?
What's the average credit score that leasing companies are looking for when transferring the lease ?
I do believe it depends on the manufacturer. The starting range is 620 for some lower end brands and 680 for most luxury brands like BMW & Mercedes.
Hi Naam, excellent video, very helpful! I am actually looking into swap a lease to pick up an M5. Can you please explain a little more about the mechanics of the cash incentive? I know you said the monthly payments to BMW Financial will be the same as what the original lessee paid...so how does the cash incentive come into play?
Original owner gives you cash upfront at yhe time of signing.
Do you meet them at the manufacturer dealer to initiate the swap, or just contact the leasing company?
There would be paperwork sent and when both people sign and agreed, you pick it up from the person.
Naam Wynn ok, so you don't have to meet at the dealer to handle the paperwork?
@@SpongeTheOc meeting at a dealership is the safest option especially for women and park right out front where everyone can see you.
Hmm. 🤔 I wasn’t even aware you could do this!
It's still pretty rare to see people do since it does require a few extra steps. But if the cash incentive is right and the numbers work, why not?
So if your credit is not good they still won’t lease it to you
Hi brother!!
That's a very detailed and informative about lease swapping.
I have a question though: I live in Virginia, and trying to lease transfer a car registered in NY state.The car is 16 months old. What taxes and fees would I be paying if I registered this car with VA DMV? I am trying to understand taxes here, but it's confusing. Thanks in advance.
So is it a temporary lease or do you own it after you pay it off
You own the contract.
Can you ever just do a buyout from the lease company or only after the lease is up?
Yes.
Good info brother. I do like Swapalease more for the same reason mentioned. Its fun to check out exotics to see how expensive they are 😬
Haha. I'm not the only one. I do this all the time when I am bored!
How to figure out that msrp
Check out the edmund forums or the sticker price on the dealership's website
@@NaamWynn thanku🙏🏻, ur videos r so helpful
Pages to do leasesswap?
If I take over a lease & decide to keep the vehicle at the end of the lease, will the original buyout price apply?
Yes.
Hmm interesting, thank you much & happy holidays
Can I use swapalease in my business name or pay through my business account?
It’s typically easier to just go through your name and write an agreement to your business.
Hi,
Is Swapalease and LeaseHackr operational in Canada too?
The concept maybe. But I’m not sure if swapalease is available in Canada
I was thinking of going to swapalease. Finding a car with maybe 6 months left on the lease. Pay it off. Then sell it and reinvest into some asset. Would this work?
Don’t you have to turn the car in after the lease is up?
I am planning of taking over a lease, but I just wanted to know who is actually responsible for the additional fees, the seller or the buyer(me). i.e. safety inspection, carfax, lease transfer fee, administering fee etc. I just don’t wanted to be paying fees when I am not supposed to just to be fair.
So ask for inspections and Carfax it’s really what you want to go Negotiate, but those are more for the person who wants to take over the vehicle. Also if you are trying to take over her lease, Some finance companies they do charge an application to run your credit.
But for the person who is looking to exit at least they are the one who pays the lease transfer fee
I leased a Audi and couldn't believe the lease takeover is 1600+tax and vw is also 1000, Toyota and Lexus charge like 400.
We need a video on best car company to do a lease takeover
How do you inspect a vehicle from far away?
So for a car that you would like to lease, you would have to contact the individual and inspect the car at the meet up location
So this site is ligit? There asking for $70 for a membership…just want to make sure it is💯
Do we have to get our registration and license plates?
Yes
I am considering getting out of my 2019 Toyota Corolla Hatchback I leased it for 36 mo last year in May. Payments are 370.58 a month. It has low miles only 3400. Should I take a chance with Swapalease and list it or should I post elsewhere and save the 300 to list it and offer it as an incentive? Thanks!
See how much you can sell it for on Carvana or Carmax. If the price is close to the buyout price then go for. Contact Totoya financial first before considering swapping just to know the terms and your liabilities.
You will be amazed how bad those lease deals they negotiated...sometimes 2%
what do you mean
Would be helpful if he answered questions so people are more informed. If something sounds too good to be true...
Hi man, i wanna walk out of a lease and Lexus said they wont sign any paper to transfer the lease to someone else. they cant do that. is that true?? thanks
It’s depends. I know you can’t swap if it’s the first 60 days or last 6 months of the lease. If Lexus/Toyota financial says you can’t then it’s really up to them.
@@NaamWynn thanks a lot man
Damn I didn't understand anything I just clicked on it because YT thought i'd be interested in this video.
🙏🙏🙏✨
FYI Mercedes Benz has stopped all lease transfers INDEFINITELY due to COVID-19 according to their website
Many of the leases on their are high
Unfortunately it’s the current car market
Do you have an Instagram?
Are you building your credit?
Bro you touched all bases!