CARRUSLiNK
    Glossary

    Lease transfer

    A lease transfer is when a running lease is taken over by a new lessee before expiry. The leasing company credit-approves the new customer, the agreement is rewritten with the same car and remaining term, and a condition report is made at handover. The dealer usually brokers the deal.

    Transfers happen when a customer's needs change mid-contract. The alternative is a costly early termination, so both customer and leasing company usually want a new lessee found.

    For the dealer, a transfer is a lead with a short path to decision: the car exists, the price is known, and the new customer only needs approval.

    The pitfall is documentation: mileage, damage and outstanding instalments must be settled on the transfer date, or the discussion resurfaces at return years later.

    In CARRUSLiNK

    CARRUSLiNK keeps the contract, the condition report and the mileage together on the car, so a transfer happens without losing the history.