I am looking to transfer the lease on my S2000 which has about 10 months remaining. I got it on the Honda Finance deal for $299/month. I'd prefer a lease transfer as I know someone that is interested in the car immediately. So, it would be a faster transaction than trying to find a buyer.

1. How do I determine a good price to recoup some of my down payment when transfering the lease to someone else? Is there a standard formula? Should expect a decent amount back as I have already covered a good deal of the payments on the car resulting in a lower purchase price at the end of the lease. I'm not upside down on the lease....I don't think. Current buyout is 22,xxx and KBB is around 22-23k for private sale.

2. Is anyone familiar with the process to transfer a lease? Is it as simple as calling AHFC? Does the new leasee need to pass a credit check?

Thanks.

 

you are better off selling the car if you ar enot upside down. Besides, Honda FInance does not allow lease transfers... Even if they did, no one would pay you money to take it over when you can lease a brand new on for $0 out of pocket and around $350/month with tax....

Take it to CaRMAX OR SOMETHING

 

[QUOTE=2005GPW,Jul 10 2008, 01:12 PM] you are better off selling the car if you ar enot upside down.

 

you would stay on the lease after you sold it to somone else? If they decide to not pay for it, you're stuck with the payments, but have no car.

 

Exactly- most leases specify this type arrangement upon transfer(unless the new person applies and is qualified for the lease just as you were when you bought the car). The leasing company is not going to take the chance you give the car to a deadbeat who won't make payments on time.