Source - The Times - Driving - Jason Dawe - Sunday Times I have an MGTF on personal lease from a car leasing company. I am due to move abroad and would like to avoid the large early termination penalty imposed by the lease company. Can I do this? - PM from Guildford
Transferring such contracts has been popular in America for years but has only recently become possible in this country. The online broker Swap-a-Lease claims to be the only car leasing and contract hire transfer service in the UK. The procedure is straightforward: you submit the details of your car and contract, which are advertised online where prospective buyers can check out the terms. If a buyer is found, buyer and seller pay a small handling charge for the contract to be transferred. Most leasing companies are happy for this to happen.