Assumption of Lease
Thread Starter
Almost a Member!
Joined: May 2003
Posts: 68
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From: Chicago, IL USA
Assumption of Lease
I don't know if I'm just having cold feet with respect to having a new car, new home and new job all at the same time, but I'm thinking of getting rid of my leased CLK 500. Is it possible to have someone assume the lease or does MB Credit prohibit this?
The remaining term is 36 months (originally 39 months), 12K miles/year, at $814/month.
The remaining term is 36 months (originally 39 months), 12K miles/year, at $814/month.
Thread Starter
Almost a Member!
Joined: May 2003
Posts: 68
Likes: 0
From: Chicago, IL USA
From all the non-responses I want to clarify my above post. This is not me soliciting people to takeover my lease. Just wondering if anyone knows if it's possible to have someone assume my lease or does MB Credit prohibit this?
Member
Joined: Feb 2002
Posts: 137
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From: Southern California
2003 CLK430 Cabriolet
From what I understand about any lease, you can have someone assume the least but you are still ultimately responsible for it which mean if that person default on the lease, you are still responsible for the payments. The only way to completely get out of a lease is to buy out the car from the bank that hold your lease and sell it afterward.
Member
Joined: Jan 2003
Posts: 205
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From: Canada
Mercedes
Well here in Canada, there are no problems with having someone assume your lease through MB credit. As long as the person has the proper credit, then it is fine. You just sign the lease transfer documents that you will get from MB and sign over the lease to the person taking over your lease. Then he/she is now responsible for the lease payments and what not.
