A Mercedes-Benz lease transfer is one of the options available to drivers when the time comes for a new vehicle or if their financial needs shift. Typically, you’ll prepare to transfer your lease before the lease comes to an end, and the driver you are transferring it to will need to qualify. Learn about the lease transfer process and find your next Mercedes-Benz model at Mercedes-Benz of Annapolis.
What is a Lease Transfer?
At the end of your lease, you have a few different options to choose from. You can decide to return the car, extend your current lease, or pay off the value of the lease. However, if your finances or everyday life change and you need to either downsize or upsize before your current lease ends, you may want to consider transferring your lease to another driver or business.
This simply means that the car and associated temporary ownership change hands from you to the person taking over the lease. During this process, the new leaseholder becomes responsible for all remaining payments and obligations. You will be able to transfer the lease to another driver after six months of lease holding.
How Does the Transfer Process Work?
The process for transferring a lease is relatively simple. You’ll need to contact your leasing company and make sure that there will be no leftover responsibilities once the transfer is complete. The new lease holder will then need to complete the application and get approved to make sure they qualify, and then you will both complete the paperwork. A few fees can be expected as part of the process, including transfer fees, vehicle licensing and registration, and taxes.
Learn About the Mercedes-Benz Leasing Process in Annapolis, MD
No matter where you are on your leasing journey, Mercedes-Benz of Annapolis is here to help. We support drivers from the first application to the end-of-lease process. Visit our dealership to find your dream Mercedes-Benz lease today.
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