Auto Lease Assumption Agreement

Once the lease has been successfully transferred, you are no longer financially or legally bound for that lease. There are a number of benefits for someone who takes over a lease or what is called a short-term lease. This may include fewer monthly payments due to a down payment from the original lease, a shorter obligation before the lease is returned, and the ability to enter a luxury vehicle at a lower cost per month. It is recommended to use a vehicle rental agreement when a vehicle lease is negotiated between two parties for whom no dealer rental form has been provided. For example, you can use a vehicle rental agreement if you lend a car or truck to a friend or family member. .