anyone ever transfer a lease on a vehicle to another person?

I believe the big warnings above are to the SUBLET concept, which I agree is a HORRIBLE idea. I don't believe they're talking about doing it properly through the leasing company on a complete transfer. There is nothing wrong with that. There is no danger and no liability. It's the same as selling the car. No credit damage either (except maybe somebody frowning upon you if you do it too soon). The only catch is the leasing company has to approve it.

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Originally Posted by codyzak

I am surprised by the majority of answers, so far.
I transferred a lease, pre-financial crisis, and aside from a $600 transfer fee, it was painless. They paid it.
Came off my credit report, no insurance obligation, etc.
Its got to be properly explained in your paperwork.
Ralph chick doesn't make anything, so ignorance is bliss.
Good luck, cover your 6

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Good for you that you got lucky. That's an exception to the rule. Mine was a 2000 Datoka 5.9 R/T that I leased brand new on a 3yr lease to give you an idea on time-frame. Bottom line is that YOU are responsible for that truck, YOU are responsible for the payment regardless of what some quick salesman will try to convince you. Better to have the vehicle in your possession and take whatever hit you have to in order to keep from turning a bad situation into a life changing nightmare.

Quote:

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Originally Posted by codyzak

I am surprised by the majority of answers, so far.
I transferred a lease, pre-financial crisis, and aside from a $600 transfer fee, it was painless. They paid it.
Came off my credit report, no insurance obligation, etc.
Its got to be properly explained in your paperwork.
Ralph chick doesn't make anything, so ignorance is bliss.
Good luck, cover your 6

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You are lucky.. only 1 out of 5 lease terms is transferable. Most domestics and some imports are non transferable. On top of that.. most lease contract won't allow you to transfer the first or last 12 months of the term.

Codyzak got really lucky. I've been in the car business for 11 years and never saw a captive lender transfer a lease. Now if it was leased through a traditional bank that could be the case.

Also I forgot to mention the gal at Schomp really has no authority to help you. Your lease is between you and Mini Financial once you leave the store. Call them and get specifics and I think you'll find the only way out are the ones I mentioned before.

I spoke for a while with the guy at swapalease.com. He told me that Mini leases are handled through BMW Financial. He's worked with them in the past and they are very easy to do lease transfers with. He told me that in the case of BMW that they release the original lessee from liability so that the new lessee is responsible for the payments.

He gave me the number for BMW financial but I still need to call them.

That seems like good news so far Dove.
You might have some more informed questions to present now!
My situation was a Caddy with GMAC.
BMW Financial is the only place to verify/trust answers, I bet.

I spoke with BMW financial services. They handle the Mini Cooper leases. They do offer transfers/assumptions. The new lessee has to pass a credit check but responsibility for the payments is passed entirely to the new lessee. There is a transfer fee.

So, anyone interested in a 1 year lease on a hunter green mini cooper? It has lots of miles leftover for use. I think we pay something like $230 a month IIRC.