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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

    Jun 3, 2017
    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

    Mar 18, 2017
    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.
    • Informative x 1

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