Is Quitalease your best bet at getting a new car amid a pandemic?

The current economic situation has had a drastic impact on the automotive industry. With social distancing protocols, infections, and lockdowns, manufacturing plants are shut. Similarly, people are unwilling to purchase a new car under the current economic uncertainty. Coupled with rising unemployment, consumers have delayed such plans. Moreover, the global supply chain on which the auto industry heavily relies on has also been affected by the pandemic. Speculations about the future of the automotive industry are also becoming common. Car dealerships are shuttered and banks are unwilling to give out loans. There is one option that is suitable for these conditions and that is car lease swapping. So what is it and how does it work? Well, we will discuss these aspects in this article. We will also review if a top car lease swapping platform called Quitalease is the right option for you.

What is car lease swapping and how is it a better option for me?

Car lease swapping refers to a relatively recent concept that entails a lessee transferring their car lease to another individual. However, that’s just the bare-bones of the model. Suppose a person has leased a car from a leasing company but wishes to get rid of the car lease and the monthly installments. If the individual ceases the monthly payments, then their credit ratings would be affected. In a way, the individual is trapped. In such a scenario, they can transfer their lease to another person, who in turn continues making the monthly payments. In short, the original lessee simply hands over the car to someone else, who becomes the new lessee. There are many important advantages to this concept. The most important benefit is that you do not have to pay high down payment costs. 

Similarly, the original lessee may be willing to offer additional features in the vehicles free of cost. Moreover, there are high chances that the leasing company will approve your application to take over a car lease because it is in the company’s interest to continue receiving payments. Given the current economic situation, car lease swapping presents the most viable option to get your hands behind a new set of wheels. Besides, you do not have to go from dealership to dealership, looking for the right car since you can do so from the comfort of your home.

Quitalease

Quitalease is an online platform that brings together the original lessee and potential customers on the same page. The platform is relatively new to the market, but it does not mean it is any less useful. On the contrary, Quitalease has plenty of interesting features that take advantage of recent advances in technology and changes in consumer preferences. As we will discover, Quitalease has unique algorithms that help you find the perfect match. So how does it work? Let’s explore this in detail.

How to take over a car lease with Quitalease

Step 1: Go to the Quitalease website and register your account by entering your name, email address, location, and phone number.

Step 2: Log in to your new account and select the “Search listings” option.

Step 3: The website will then generate a list of all available vehicles. However, navigating through this list can be a challenge because you will get tired of going through a large number of ads.

Step 4: Use the filter option on the left to further tweak your search. You can use filters such as car type, make, model, color, transmission type, fuel type, fuel efficiency, mileage, interior, and more. Another important filter is the “Price per month” option that lets you find a car within your monthly budget.

Step 5: Quitalease will use its unique algorithms to generate a fresh list of vehicles that suit your requirements. Browse through the list, and save any ad that may be of interest to you. You can view the saved list later as well.

Step 6: Select the “call” or “message” icon under the advert to communicate with the original lessee.

Step 7: Strike a deal with the poster and send your financial documents to the leasing company. You can drive off in your new car the moment the company approves your car lease takeover application.

How to transfer a car lease with Quitalease

Are you finding it difficult to make monthly payments on your car or just want to drive a new vehicle? Don’t worry; follow our step-by-step guide to transfer your car lease to someone else.

Step 1: Register your account on Quitalease and enter your contact details such as email address and phone number.

Step 2: Take clear pictures of your car from all angles. Make sure that the vehicle is washed and polished before doing so. Clean off the interior and take some snaps as well.

Step 3: Click on the “Post an ad” option after you log in to your Quitalease account.

Step 4: Upload the images of your car and enter all relevant information such as mileage, monthly payments, color, model, maker, interior, transmission type, etc. This is very important because Quitalease will use this information to match you with the right buyer, increasing your chances of a successful transfer.

Step 5: Keep checking your inbox for any interest in your vehicle. If someone is interested, provide accurate information and try to make an enticing offer.

Step 6: Inform the leasing company that you wish to transfer the car lease, and provide details of the new lessee.

Step 7: Wait for the company to process the applicant’s documents. Once approved, simply hand over the car keys to the new lessee. You do not have to make any more payments.

Important features to use and things to consider

There are a couple of important features available with Quitalease that you must use if you want to find a quick and effective match. The most important thing to remember is that you must fine-tune the available filters so the platform can include the vehicle in the curated list. For the seller, this requires adding all relevant information while posting the ad. Another thing you must do is to use the “per month price” function. Price is a very important factor for car lease transfer.

Similarly, enter the zip code of the area you are based in. Quitalease will match each vehicle with its location. This way, there are higher chances of a successful deal since both parties are based in the same locality.

Moreover, it is important to consider the “Mileage per month” and “Total mileage” because almost all car leasing companies set yearly limits on how much you can drive. You may find the right vehicle, but if the mileage allocation is too low, you may not be able to drive it as much as you like. Any extra miles that you drive your new car will cost you extra money, so avoid any future complications and keep this factor into consideration. Try to come up with a rough estimate of your yearly use and then search for a vehicle.

The seller should organize vehicle service records and original contracts, along with relevant documents so the buyer can make accurate decisions about the vehicle. On the other hand, the buyer needs to make sure exactly what the contract entails. The buyer must also check the condition of the vehicle before purchase. We strongly suggest you pay a small fee to a third-party for a closer and more accurate inspection of the car.

Summing up

Car lease swapping may emerge as the most reliable model for vehicle ownership in the near future as the global economy undergoes major changes. It is already projected that car dealerships will see a decline as the automobile industry goes digital. Platforms like Quitalease, therefore, become important for both sellers and buyers. For the former, it represents the perfect opportunity to cut down on monthly expenses without having to deal with any financial implications. Similarly, buyers can drive a new car without having to spend massive amounts of money on a down payment. In short, it presents a win-win scenario for all concerned parties. With the way the global economy is changing, you may end up feeling grateful for your decision to opt for a car lease swap.

About the Author Long Le

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