The Process of taking a lease over 
 
Once you have found a person to take over your lease and all the negotiating if any has been completed  both parties should sign the agreement provided by TAKEMYLEASEOVER.CA for the purpose of clarity and transparency.

  • The Buyer will have to complete a credit application from the original leasing company and depending on the lease it may have to be submitted at the original dealership.
  • Once the credit check has been completed and the buyer has been approved for taking over the lease by the leasing company, the next step is for the buyer to contact their insurance company and secure insurance coverage as of a set date in which the seller and buyer will agree to meet and sign the necessary documents.
  • It is important to know the buyer is responsible for making sure that full disclosure has been provided by the seller in regards to the maintenance of the vehicle and it's physical integrity.
  • The seller should provide a CARPROOF report showing any and all claims or liens on the vehicle along with any maintenance history for the vehicle.
  • Very important to note that any damages on the vehicle or lack of proper maintenance may be cause for any and all warranties to be void by the manufacturer.
  • Make sure as a buyer you get a copy of original lease documents as you will be solely responsible from that point forth.

 

Interprovincial Transfer of your lease 

With over 19 years of experience in the automobile business the staff of TAKEMYLEASE.CA have gathered an extensive wealth of experience in transferring your lease to someone out of your province or vice versa get a vehicle you found on TAKEMYLEASEOVER.CA to your province. Though this process can be a little more complicated then a local transfer but it is not impossible, by following the steps we have set forth below it will assist you in completing your transfer. In the following steps TAKEMYLEASEOVER.CA will refer to the present lease holder as the " Seller " and the person taking over the lease as the "buyer".

The Process of taking a lease over from out of Province

Once you have found a person to take over your lease and all the negotiating if any has been completed  both parties should sign the agreement provided by TAKEMYLEASEOVER.CA for the purpose of clarity and transparency. 
 

  • Follow the same steps as stated on The Process of taking a lease over but in addition to this as a buyer you should make sure full disclosure should be followed.&
  • Providing very detailed photographs of the vehicle to the buyer including pictures of tires showing tire wear will show goof faith.
  • Transportation Ministry in every province may have different rules to license the vehicle in the province of the buyer. As a buyer you should inquire from his local licensing office the documents you will need to properly register the vehicle.
  • As the buyer you may want to have a vehicle inspection performed by a local company or dealership to ensure you are aware of the condition of the vehicle.
  • Shipping of the vehicle is a relative simple process and once the shipping company takes possession of the vehicle they will be responsible for its condition. They will provide the seller with a copy of the shipping manifest document which should be provided to the buyer as proof of vehicle condition when shipped.
  • Once the vehicle is received by the buyer and the registration is completed at the local licensing office a copy of said document will have to be provided to the leasing company.

Download a Lease Takeover Form