For sellers - getting out of your lease
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1
Post your listing - free, takes 5 minutes
Tell us the year, make, model, trim, monthly payment, and how many months are left. Upload a few photos. Add any cash incentive you're offering (or asking). Start a listing.
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2
Buyers find you
Your listing is indexed on Google immediately, surfaces on our browse page, and appears in city-specific landing pages like Los Angeles. Serious buyers message you through TradeMyLease - your phone and email stay private until you decide to share them.
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3
Buyer applies to your lease bank
The bank handles credit approval - not us. The buyer submits a lease assumption application directly to your bank. Each bank's process is different; we publish what every captive lender requires.
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4
Both parties sign the bank's paperwork
Once the bank approves the new driver, they send the lease assumption agreement. You both sign and the bank's transfer fee gets paid (typically $135–$625 depending on your bank). Use our paperwork checklist so nothing slows you down.
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5
Hand over the car. You're out.
At most banks (BMW, Ford, GM, Toyota, Lexus, Mercedes pre-2020), the original lessee gets a full release of liability - you're completely out of the lease. A few banks (Nissan, Infiniti) keep you as a guarantor; we flag this loudly on those brand pages.
For buyers - taking over a lease
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1
Find a lease that fits
Browse by make, model, monthly payment, or state. Or jump straight to a city: all metros. Use our cost calculator to figure out the all-in cost (including the bank's transfer fee and any projected mileage overage) before you commit.
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2
Message the seller
Ask the questions you should ask before any takeover - service history, real reason for transferring, condition of the car. Our vetting guide walks you through it.
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3
Apply to the bank
You'll submit a lease assumption application directly to the lease bank. They'll credit-check you, verify income, and decide. Credit requirements vary by bank; we publish the thresholds.
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4
Sign the assumption paperwork
If approved, the bank emails the assumption agreement. You and the seller both sign. The transfer fee gets paid (sometimes seller, sometimes buyer, often split - negotiable).
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5
Take possession
If the seller is local, pick up the car. If they're out of state, arrange transport (usually $500–$1,500). Notify your insurance company. Set up auto-pay with the bank. You're now the lessee - drive it for the rest of the term, then return it.
What it costs
TradeMyLease is free. We don't charge sellers to list, buyers to browse, or anyone a success fee when a transfer closes. The only money that changes hands goes to your bank for the transfer fee - and you'd pay that whether you used us or called the bank yourself.
Common questions
Why is this free? What's the catch?
No catch. We don't take a cut and we don't charge for listings. Our long-term plan is to monetize through partnerships with lease banks and dealers - not by squeezing sellers and buyers. See our terms for full details.
What if my bank doesn't allow transfers?
Some don't - Honda, Hyundai, Kia, Genesis, Mazda, Volvo, Subaru, Tesla, Stellantis brands. Check the brand-by-brand breakdown first. If yours is on the no-list, your options are a dealer trade-in, a third-party buyout, or contacting the bank about early termination.
How do I know the seller / buyer is legit?
The bank's credit check filters out non-qualified buyers. For sellers, we recommend reading our "what happens if the buyer backs out" guide for ways to vet seriousness before you invest paperwork time.
Can I transfer a lease that has less than 6 months left?
Most banks allow it - except Toyota/Lexus and GM Financial, which exclude the last 6 months. See your bank's specific policy.
What if the deal falls through after the bank approves?
Annoying but rarely catastrophic. The bank's approval doesn't transfer to the next buyer - they'll have to apply fresh. Our guide on this walks through every stage.
Ready to start?
Whether you're getting out of a lease or taking one over - it's free to start.