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Buyer Tips

Every lease buyer has their own preferences and needs, so it's important that you categorically know what to look for in a car lease. Usually, the factors that matters are the numbers of payments left, monthly payments and the miles allowed on the car. Then, there are factors like the make and model that works according to every buyers’ individual’s preferences.
While searching ads on QuitALease, look for the ones that are more detailed and have all the necessary information included within them. If you have found a potential seller, it’s time to contact them which you can do by sending them a message. Through direct messages, you can ask them all the lease-related questions within the inbox. Always read the ad properly to avoid asking the same questions that are already answered by the lease seller.
To contact a seller, you will have to sign up for QuitALease; only then you will be able to see the "Message" option. Once you have signed up for QuitALease, you can use the same registration to contact multiple lease sellers.

Arrange a Meeting

Before you proceed further and meet the lease seller, make sure you know what involves assuming a lease contract.
About meeting the seller, decide a mutually convenient time and place. Tell the seller to bring along the lease contract and service records. You should roughly spend around 45 minutes inspecting the car and reviewing the documentation.
All the policies, rights, and obligations pertaining to a car lease have been provided within a lease contract. It’s your task to review the documents thoroughly before finalizing a deal.
What do you need check in the lease contract? There are a few different terms of the lease that you should check, like the ending date of the agreement and reconciling it with the one mentioned on QuitALease. Also, you will need to reconcile the miles allowed and cost per mile of driving beyond the total miles allowed.
You may also want to check the monthly payments, the remaining number of months, buyout value and also the end-of-lease terms, security deposits, and lease disposition fees.

Inspecting the Vehicle

A thorough inspection of the car could avoid you the inconvenience of assuming an unworthy lease contract. You should reconcile the vehicle condition with that mentioned on the QuitALease website by the seller. We suggest you that you rather hire a third-party for inspection because after all, you will be responsible for the vehicle’s condition at the lease end.

Ask Questions

Once you have inspected the vehicle, it’s time to finalize the deal. Therefore, before moving any further, it’s important to ask the sellers questions like "Who will be paying the transfer fee?" or "How the security deposit transfer will be handled?" and so on.

Locking the Deal & handing over the keys

Once the buyer has provided everything regarding the lease transfer process – the transfer documents, proof of insurance or any other specific requirements of the leasing company – the transfer fee is paid as decided and the keys are handed over.
If you don’t start getting the monthly lease statements 10 days prior to the transfer date, contact your leasing company and check if the statement was processed. Remember that it’s your lease now and you are responsible for the monthly payments.

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Jennifer 20-07-2016

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