Most lease contracts allow you to transfer the remainder of the lease period to another person, says Scot Hall, executive vice president of Swapalease, a lease-trading site. Swapalease and its competitor, LeaseTrader, help you find someone who needs a car and can assume the remaining payments.

What happens to car lease if you move?

Notification if you move. In most lease agreements, if you have the right to move out of state, you must notify the lessor that you have moved and be sure that the vehicle is properly titled and registered in the new state. You should be aware that if you move, the new state may tax your vehicle in a different manner.

How does a lease transfer work?

A car lease swap, or transfer, is a transaction in which a vehicle that is subject to an auto lease is transferred from the current driver to a different driver. Along with taking on the running costs of the car, the new driver takes over the lease on the same terms as the original owner.

What is the best state to lease a car?

According to the latest State of the Automotive Finance Market report, the top 10 included:

• Michigan: 62.7 percent.
• New Jersey: 55.7 percent.
• New York: 50.7 percent.
• Texas: 44.6 percent.
• Washington: 44.0 percent.
• Connecticut: 40.1 percent.
• Ohio: 37.5 percent.
• Massachusetts: 36.9 percent.

Can I sell my leased car to a friend?

2. Sell your leased car to a neighbor, friend or family member. Once you receive the title (the leasing company will only send it to the person leasing the car), sign it to release your interest in the vehicle, and give the title to the buyer. The buyer can then register the car and pay sales tax at that time.

Can someone else buy out my lease?

Yes, there are a number of ways, but they all require the approval of the leasing company. You can arrange to have someone take over the lease. If you do this through the leasing company, the new lease holder will now be responsible to pay the lease and turn in the car at the end of the lease.