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Tesla's Policy on Lease Transfer?

Discussion in 'Tesla for Sale' started by FLGators584, Jun 3, 2017.

  1. FLGators584

    FLGators584 Member

    Joined:
    Jun 3, 2017
    Messages:
    5
    Location:
    Trinity, FL
    What is Tesla's policy on lease transfers?

    Do they remove the original lease holder's name from the contract or am I still liable at the end of the lease?

    I have never transferred a lease before. Why do most listings I see offer cash incentives? Can someone offer me guidance on lease transfer 101?
     
  2. jmillic

    jmillic Member

    Joined:
    Mar 18, 2017
    Messages:
    6
    Location:
    Atlanta
    It depends who the lease is actually through (ie Tesla Finance, US Bank, etc.)

    If through Tesla Finance, they allow lease transfers. The person assuming the lease must complete a Lease Assumption Credit Consumer Application. If approved, the transferee pays a credit app fee, a transfer fee and once the paperwork is signed, has ALL responsibility for the car. Essentially what happens is the original lease is an exhibit to a lease assumption contract, so the original leaseholder has NO liability beyond the date of transfer.

    Some people offer cash incentives as a way to get someone to take over a lease because the transferee is on the hook for ALL wear and tear, etc.

    I am happy to talk it through with you or give you more insight if you PM me.
    -josh
     
    • Informative x 1

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