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Step By Step Guide on Taking Over A Lease in Canada
When you are ready to takeover the lease, you need to fill out the credit application. This can be usually found on the dealerships website under the “finance” or “apply now” tab. After filling out the credit application, email the dealership letting them know that you filled out the credit application and are looking to takeover the lease “include the lessor/seller in the email”. Credit applications can be done online or in-person, however, due to Covid dealers are moving to an online process.
Once you are approved and get the confirmation from the dealership, both you and the lessor/seller will need to sign some paperwork. This usually happens in-person at the dealership and takes 15-30 minutes depending on how busy the dealership is during that time.
