How lease takeovers work
A lease takeover is the smart way to exit a lease without big penalties — and a low-risk way for buyers to get into a short-term lease. Here's the whole process.
The seller journey
List your lease free
Enter your vehicle and lease terms. Get an instant, no-charge attractiveness score and tips to sell faster.
Reach qualified buyers
We expose your lease to thousands of buyers across Canada actively looking for a takeover.
Buyer gets approved
The interested buyer submits the leasing company's credit application for approval.
Sign off, walk away
Once approved, the seller signs off and the buyer signs on. You're out — with no deficiency fees.
A win for everyone
Lease transfers work because all sides come out ahead.
The seller
Exits early with no termination or deficiency fees.
The buyer
Gets a short-term, low-commitment lease — often with an incentive.
The lender
Keeps the contract performing with a fresh, approved lessee.
Frequently asked questions
What is a lease takeover?+
A lease takeover (or lease transfer) is when a new person assumes the remaining payments and terms of your existing vehicle lease. The leasing company transfers the contract to them, releasing you from it.
Why not just break my lease?+
Breaking a lease early usually triggers steep termination penalties or a lease-deficiency balance. A takeover avoids most of those fees because the contract simply continues with a new lessee.
Does the leasing company have to approve it?+
Yes. Every transfer requires the leasing company or bank to run a credit application on the incoming buyer and formally approve the transfer. DrivePulse only connects the two parties.
Why do buyers like takeovers?+
Short remaining terms, low or no down payment, already-depreciated vehicles, and sometimes a cash incentive from the seller make takeovers a low-risk way to drive a nice car.
What is a cash incentive?+
Some sellers offer cash to whoever takes over their lease, to make a higher payment or longer term more attractive. It's paid to the buyer, typically at transfer.
Can I transfer a lease to another province?+
Often yes, but rules vary by leasing company and provincial registration/tax. Confirm interprovincial transfer eligibility with the lender before you commit.
What about the kilometre allowance?+
The remaining kilometre allowance transfers with the lease. Check how many kilometres are left versus how much you drive to avoid excess-kilometre charges at maturity.
Who handles wear-and-tear at lease end?+
Whoever holds the lease at maturity is responsible for excess wear and kilometres. Inspect the vehicle and clarify its condition before taking over.