Transferring your lease contract to another company
A lease contract usually runs for 48 or 60 months. A business changes faster than that. Transferring it to someone who can actually use the car is almost always cheaper than terminating — but it does not happen by itself.
What a takeover actually is
In a takeover, another company takes over your running contract: the same car, the same monthly payment, the same mileage allowance, and the months that remain. The contract is not renegotiated, it changes name.
That is different from selling the car. Under operational leasing you are not the owner — the leasing company is. You hold a right of use, and that is what is transferred.
Legally this is a transfer of contract. Crucially: this is never possible without the express permission of the leasing company. An arrangement between two business owners is worthless if the leasing company does not countersign.
What the leasing company checks
The leasing company has one concern: will the remaining months be paid. It therefore assesses the party taking over roughly the way it would assess a new customer.
In practice it looks at the company number and whether the business is active, at the annual accounts or a recent accounting position, at how long the company has existed — recently incorporated companies are harder — and at any arrears or legal proceedings.
Some leasing companies additionally ask for a deposit or a personal guarantee from the director, especially with a young company. Others refuse to transfer to a sole trader and want a company. This genuinely differs per leasing company and sometimes even per file.
Check this before you start looking: call your leasing company and ask what conditions it sets for a party taking over. That ten-minute conversation determines whether your search stands a chance.
What it costs
Most leasing companies charge an administrative fee for drawing up the transfer. That amount varies widely and is often not in your contract, so ask for it explicitly. In any case it is a fraction of what terminating costs.
Beyond that, the contract simply continues on the existing terms. The party taking over pays from the transfer date, you pay until then.
Whatever you agree between yourselves is separate from that. Some transferors pay a sum to get out of the contract faster, for example when the monthly payment is above market. Others ask a fee for a deposit already paid or for extra options on the car. That is a negotiation between the two of you, not something the leasing company involves itself in.
How long it takes
From the moment you have someone to take over, expect a few weeks. Screening that party is the part that takes longest, and it is not in your hands.
Finding someone usually takes longer than the paperwork. The shorter your remaining term and the closer your monthly payment is to the market, the faster it goes.
As long as the transfer has not been formally accepted, you remain liable for the contract. So never stop paying because there is a candidate.
What you need to have ready
A candidate walks away from vague answers. Make sure you have this to hand before you start: the name of the leasing company, the exact monthly payment and whether it includes or excludes VAT, the number of months remaining, the mileage allowance per year and the current odometer reading.
On top of that: what the contract includes. Servicing, tyres, insurance, roadside assistance, replacement car — that is the first question every candidate asks, because it determines what the car really costs them.
And photos. A listing without photos gets noticeably fewer clicks than one with ten. Take them outside, in daylight, with your phone held horizontally.
Frequently asked questions
Am I free to transfer my lease contract?
No. A transfer is only possible with the written permission of the leasing company. It assesses the party taking over and draws up the new agreement. An arrangement between yourselves without that permission is worthless.
Do I stay liable after the transfer?
Once the leasing company has formally accepted the transfer, the contract moves across and your obligation ends. Until that moment you remain liable, even if the candidate is already driving the car. So never let a car leave before the transfer is finalised.
Can a private individual take over my lease contract?
With operational leasing or renting in a company name, usually not: those contracts are drawn up between companies and the VAT and tax treatment depends on that. As a rule you are therefore looking for another company or sole trader.
What if I do not find anyone to take over?
Then the usual options remain: run the contract to its end, or terminate early against a fee. Always request that fee in writing before you decide, and compare it with what you would still pay in monthly instalments.
What does it cost to list my contract on leasechange.be?
Nothing. Listing, being contacted and the takeover itself are free. There is no listing fee, no subscription and no commission.