"It's the biggest problem that people don't foresee," says Al Hearn, founder of consumer site LeaseGuide.com. "People don't foresee a change in their situation like the loss of a job. It's generally a big surprise how difficult and expensive it is to get out early."

Hearn estimates that fully one-third of all car leases are terminated early. And with the length of vehicle leases increasing to 63 months and more, the need for a solution has only increased. 

Enter Stiberman, president and co-founder of TradeAlease.com 
"There were 10 months left and it would have cost him something like $6,000 to get out of it," Ariel says "I was better off keeping the car and continue to make the lease payments."

TradeAlease.com, like others offers consumers an easy way out. Use the power of the Web to find someone to take over your lease, and their auto lease transfer experts will be with you every step of the lease assumption process.

At TradeAlease, it costs just under $40 per month to advertise your car lease. And then just pay a transfer fee (usually one month's payment) It is quite a bargain when you think of the thousands of dollar you'll be saving in dealer fees !!! Get out of your lease by having someone else take over your lease payments.

Interested lessees will also pay a fee to TradeAlease once they spot a car they actually want -- $25 for a credit check and "commitment fee," which is good for 60 days no matter how many cars they negotiate on.

Even if you're considering trading in your lease early to upgrade to another leased vehicle, you could be better off using one of these services. That's because the lease companies collect on the original lease by folding your remaining payments into the new one.

"It's not invisible to the pocket, but it's invisible to the eye," says Stiberman.

In the event that your lease company doesn’t normally do lease transfers, Stiberman says not to worry. Trade A lease .com finance department will take care of finding another company to assume the lease so that your name is completely severed from the old lease. (TradeAlease has applied for a patent for this process.)

No matter which site you use, the company that's actually transferring the lease may impose a separate fee, which can range from $150 and $350, according to Hearn. You may also face costs for shipping the car and any third-party inspections
 

Best Car Prices and Auto Lease Deals
Regardless of how you finance your next auto lease — price is the most important factor. But haggling over prices with dealers can be stressful and most people hate it. TradeAlease.com helps you find the payment and the car you want without gimmicks.  What you see posted in our car ads is what you get.  No hidden costs, no complicated math. As simple as 1,2,3 !!! TradeAlease has made car lease take over easy !!!

It's a fact, people often want or need to get out of a car lease early. Transferring that lease to someone else (mentioned above) is one way to do it. TradeAlease will help you find someone interested in your vehicle and will handle the paperwork.

Your Credit History and Score
When you lease or finance your car, your dealer submits your credit application to one or more of the three national credit reporting companies — Experian, Equifax, and TransUnion. Your credit "score" determines what interest rate you'll pay, or if you'll be approved at all. Scores above 700 get you the best rates. Below 600, you're in trouble. Your score also affects your car and home insurance rates. 
We found that erroneous data in these reports are common. To prevent paying higher rates, get any problems resolved with the reporting company at least two months before you apply for a lease or loan.
Equifax, one of the three major companies, offers an instant online report of your credit history from all three reporting companies, plus your all-important credit score (it's their "3-IN-1 Plus Score Power" service), for a reasonable fee. It's well worth the price if you haven't checked your report lately.
We also found that Consumer Info offers similar reports from all three companies. Both companies fully explain their reports and provide tips for improving your credit rating.

Your Dealer Can Take Your Car Away
It happens every day, and it's always a big shocker. If your credit is shaky, your dealer's finance company may turn down your loan or lease application and ask you to return your car or make higher payments. You may not find out until days or weeks after you've driven your car home. Even though you signed a contract, the deal is not done until approved by the finance company. Your dealer has only "loaned" you the car meanwhile. So, if you feel you have credit problems, check your credit history first (see Equifax above), and don't drive your vehicle home until you know that you have been approved.

Want to lease a BMW?
BMW USA enables you to custom-build your BMW vehicle, search local dealers' inventories for that vehicle, and get their best lease price. This sure takes a lot of the pain and legwork out of car leasing and buying — as long as you want a BMW.

Want to lease a New Mercedes?
Mercedes-Benz  Find the Mercedes model that's best for you based on body style, price and performance or connect with a Dealer to schedule a test drive, arrange a meeting, or learn more about any Mercedes model.

Car Dealers — The Good and the Bad
There are both good and bad car dealers. Unfortunately, they don't put signs in their front windows saying which one they are. So it always pays to be guarded and smart. Remember, car dealers have three objectives that drive their business: 1) to convert shoppers to committed "today" buyers, 2) to maximize overall profit on each deal, and 3) to make you feel good about your deal, even if the deal is not so good.  Bad dealers, in their zeal to achieve these objectives, often resort to methods that are disrespectful, manipulative, exploitative, and even dishonest. So just be aware.

Third party Lease
buyouts

Another alternative for people facing large, lease-end "extra wear and tear" fees or "extra mileage" fees -- which can run 10 cents a mile and up -- is to consider a third-party buyout. Specially if you think you can sell the car for more than it would cost you to buy the car yourself and pay the early termination dealer fees.

You can publish the car lease on TradeAlease.com and have the leasing company sell it to a third party. The trick is to make sure you're not assessed sales tax twice and that your leasing company allows third-party buyouts before you count on it as a solution.

Even if your leasing company is a willing participant, it's important to investigate what you truly stand to benefit. Both Hearn and Stiberman caution that third-party buyouts are not the best bet for everyone.

"In 99% of the cases, I would say it makes sense to return the vehicle," Stiberman says. "At the moment the initial lease is made, the leasing company sets a residual value for the vehicle that tends to be higher than what the market value of the vehicle is at (return) time."

This can make it difficult for you to sell the leased car at a high enough price to cover your expenses entirely -- but if nothing else, you could mitigate your losses.

A final word
It should be noted that while these sites offer their services for a fee, it is sometimes possible to make transfers by yourself. Hearn simply cautions that in all cases, the leasing company must be involved.

"Before these services came along, it was not uncommon to see classified ads in local papers from people trying to get out of their leases," Hearn says. "But in many cases, the lease company wasn't informed. The people (selling their leases) didn’t realize they were still liable for the lease if the new person stopped making payments or the car disappeared. They were just looking for someone to assume the car payments."

Auto Lease Assumptions or better called Lease transfers are a great option if you would like to end a car lease early. But the fees involved mean this is not get-out-of-jail-free card even though you are still saving thousands dollars in dealer fees. Still the best way to not pay extra is to complete the original lease terms.

A win-win-win-win situation?
Of course, if you're the person taking over the car lease, you can negotiate to have the previous lessee pay for all fees. Many of the listings include seller incentives, sometimes offering a couple thousand dollars to buyers up front. Even without cash incentives, leases on these sites are potentially far better deals than you would be able to negotiate at a dealer.

"The best example would be a luxury vehicle," Stiberman says. "When you take on the remaining lease, you won't have to come up with a down payment. You can get into a luxury car for a shorter term but at the same rates as someone who made a big down payment or had a longer lease."

It seems everyone wins with car lease transfers. The person getting rid of the auto lease may get out for far less than he would have with his original company; the person assuming the car lease stands to find a great deal, and the sites make money facilitating the whole car lease transfer process. The leasing companies are happy, of course, because they'll continue to collect monthly lease payments