How it works
Lease transfer checklist
Everything a buyer and seller need to complete a lease takeover smoothly. Follow it in order.
1. Gather the lease documents
- Original lease agreement and current statement
- Remaining payment amount, number of payments and maturity date
- Residual / buyout value and any security deposit
- Kilometre allowance used vs. remaining
- The leasing company's lease-transfer form and fee
2. Buyer credit approval
- Buyer submits the leasing company's credit application
- Leasing company runs credit and approves (or declines) the transfer
- Confirm who pays the lender's transfer/administration fee
- Agree on any cash incentive and how it changes hands
3. Inspect the vehicle
- Review a Carfax report for accident and service history
- Inspect for excess wear that could trigger end-of-lease charges
- Verify the odometer against the stated kilometre allowance
- Confirm winter tires, keys, manuals and accessories included
4. Interprovincial transfers
- Confirm the leasing company allows out-of-province transfers
- Check provincial registration and sales-tax implications
- Arrange safety/emissions inspection if the new province requires it
- Update insurance to the new lessee before taking delivery
5. Complete the transfer
- Seller signs off and buyer signs on the lender's transfer contract
- Leasing company issues the updated lease in the buyer's name
- Confirm the seller is fully released from the obligation in writing
- Buyer sets up payment method and receives the vehicle
Ready to start?
DrivePulse connects buyers and sellers only. All transfers are subject to leasing-company approval.