We know that circumstances can change. Whether your vehicle needs have changed or your financial circumstances, you may have wondered, “Does Mazda allow lease transfers?” Heritage Mazda Bel Air is sharing all the details.
What’s a Lease Transfer?
When you first secure a lease, you’ll set parameters including the length of time for your lease, an allotted mileage, and set monthly payment amounts. During a lease transfer, your existing lease (with its parameters) will be transferred from you to another person. This can also be known as a lease takeover or a lease swap.
How Does It Work?
In order to transfer your lease, you must find someone willing to take over your lease and keep making the predetermined payments until your contract is up. They’ll also be responsible for your lease return. That means that they’ll also be responsible for any excess mileage or wear and tear fees, if applicable.
Can I Transfer a MAZDA Lease?
Whether or not you can transfer your lease depends on your leasing institution. The majority of Mazda leases are completed through Mazda Financial Services, and they allow lease transfers. However, the new lessee will have to submit a credit application and be approved, and they could owe a transfer fee.
What Are My Other Options?
A lease transfer isn’t a good fit for everyone, or even possible. You may need to look into terminating your lease early instead. You may also want to explore early buyout options.
Discuss Your MAZDA Lease Options in Fallston, MD
If you no longer want your Mazda lease, a lease transfer may be right for you. Our team is happy to discuss your options with you to help you determine your best route moving forward. Visit Heritage Mazda Bel Air to chat with our financial experts today!
