What are the things I need to know about a lease assumption
from MBZ credit other than filling out the application and paying lease transfer cost. Any advice or experiences would be appreciated.

 

If you are doing the assuming, I would have the vehicle inspected by a third party since you will be liable for the excessive wear and tear at the end of the lease.

 

If you are the assumer, I would do the following:

1. Make sure you have all of the details prior to filling out a lease company credit application. This would include knowing the exact mileage, any damage (no matter how minor), any aftermarket modifications, and any other upgrades that might exist.
2. Once you have your credit application approved, read over the contract fully to make sure you understand all of the details. Don't sign it yet!
3. Have the vehicle inspected by a mechanic that you pay for! It's important that it is on your dime so that the mechanic isn't biased and will disclose any issues that he/she may discover.
4. Inspect the vehicle in person. This is really a good idea so that you can double-check that everything is as expected.
5. After you are completely happy, then sign the contract. Have the buyer counter-sign (if required) and give the buyer the contract. In exchange, you take the keys and it's yours!

I hope that helps. For more info, you might find the FAQ's section at LeaseTrade.com helpful: http://www.leasetrade.com/learning_center/faqs.cfm

 

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