Frequently Asked Questions
What exactly is Swap-a-Lease.co.uk?
Swap-a-Lease.co.uk is the first and only full-service online marketplace
of active vehicle leases. Our goal is to match individuals who are
currently leasing vehicles they wish to get out of, with individuals
who are looking for short-term leases with attractive payments andlow
deposit. For more background information on Swap-a-Lease,see about
Who can use Swap-a-Lease?
As a Seller: Anyone with an active lease, whose leasing company
allows lease transfers, can use Swap-a-Lease to "sell"
their lease. If you have any questions about whether or not your
leasing company allows lease transfers, you can check with us by
registering and we'll be happy to assist.
As a Buyer: Anyone looking for a good value on a late-model used
vehicle can search Swap-a-Lease for short-term leases. If you’d
like more information on what to look for in a pre owned lease,
check out our 'Tips for Lease Buyers'.
Can I use Swap-a-Lease outside the UK?
We we will be launching our Pan European service lateron this year
register with us and we will e mail you when the Pan Eurpoean site
How does the Swap-a-Lease process work?
In short, Swap-a-Lease allows lease Sellers to offer their active
leases for transfer online where potential lease Buyers can view
them. We then guide the Sellers and Buyers through the lease transfer
process with the leasing company. Please visit How it Works for
a step-by-step guide to the Swap-a-Lease process.
Do I have to "swap" leases with someone?
No, you do not have to "swap" leases. Each vehicle being
offered for assumption is handled individually. If you are offering
a vehicle on Swap-a-Lease, and would also like to assume one of
the leased vehicles on the site, you can do this, but the two transactions
are managed separately.
Can I be both a "Lease Seller" and a "Lease
Buyer" with Swap-a-Lease?
We encourage you to be both a Seller and a Buyer with Swap-a-Lease,
so you can take full advantage of what we have to offer. Even though
the sell and buy transactions are handled separately, we have built
the web site to make it possible for you to use a single account
for all of your lease transfer needs. You can monitor all of your
account activity in one place, using a single username and password.
How does Swap-a-Lease protect customer information?
Swap-a-Lease protects customer information in a variety of ways.
During customer transactions, data is protected using 128-bit Secure
Socket Layer (SSL) encryption supplied by XXXXXXXXXXX. Once stored
on our server, data is secured using state-of-the-art firewall protection
provided and monitored by XXXXXXXXXXX, preventing unauthorized access
to sensitive information. In some cases the "lock" icon
may not appear on your web browser. To verify that a page is secure,
you can right-click with your mouse from within the page and select
"properties" to see encryption details for the page you
Should I feel secure about giving Swap-a-Lease my credit
Swap-a-Lease has taken precautions to protect your credit card
information both during and after financial transactions. 128-bit
SSL encryption protects the information during processing, and a
state-of-the-art firewall protects information on our server. For
credit card processing, Swap-a-Lease utilizes the services of XXXXXXXXX.,
the industry standard widely recognized for providing solutions
for secure online payment processing with various web clients.
How often is the website updated?
The Swap-a-Lease listings are updated in real time. When Sellers
list their vehicles, they appear immediately on the website. Buyers
can view the latest listings by clicking on New Listings from within
the "Browse By" bar on each page.
What is a Reseller Account?
The Reseller Account is an innovative way to enjoy enhanced level
of benefits as a Swap-a-Lease user at a significantly lower cost.
Designed for volume users such as Leasing Companies, Fleet Car Dealers,
Brokers and those involved in advising businesses like Accountants,
IFA's and Insolvancy Practitioners. Resseller membership is £199.95
+Vat per annum and includes unlimited advertising for upto 25 new
listings per anum. The all inclusive package is worth over £400+Vat
per annum. Join today - see the details by clicking 'Reseller Account'
Already registered but want to take advantage of the Reseller Account?
For a limited time you can join. Click on the 'Upgrade to Reseller'
I'm new to leasing -- Where can I find out more about leasing
We highly recommend XXXXXXXX for any consumer that is considering
leasing. This leasing content website allows you to learn about
leasing pros and cons, enabling you to make an informed decision
on whether to lease or buy your next vehicle.
Is it possible to terminate a lease prior to the full term
of the contract?
It is possible to terminate any lease prior to the scheduled end
date, however there are normally significant financial implications
to the lessee when doing so. Each leasing company has their own
policies, but most will charge some form of early termination penalty.
It is not unusual for these charges to be in excess of several thousand
dollars. This is a primary example of why Swap-a-Lease can be such
a valuable service. If you'd like more detailed information, we
recommend XXXXXXXXXX -- a valuable leasing content website that
addresses the subject of early lease termination in depth.
How do lease transfers work?
The basic lease transfer process is the same for all leasing companies.
The individual wishing to assume the lease submits a credit application
to the leasing company. The leasing company will make a decision
on the credit worthiness of the applicant. If approved, lease transfer
documents are prepared and signed by the original and assuming lessees.
The transfer is complete when the signed documents are returned
to the leasing company and processed. There are variations in the
fees and details for each leasing company. The Swap-a-Lease service
is on board to assist with these variations and details as you navigate
through the transfer process.
How can I find information on my leasing company?
We are compiling a comprehensive guide to leasing companies policies
and fee's in the UK & Europe please register and let us know
which lesing company you car is with. We will contact you with all
the relevent information as soon as we have a policy & fee statement
from your leasing company.
Are there any additional or “hidden” fees involved
in lease transfers?
There are two kinds fees involved in transferring a lease with
the aid of Swap-a-Lease. These include the nominal fees charged
by Swap-a-Lease to list vehicles and facilitate the lease transfer
process, and those fees required by the leasing company who hold
the vehicle lease. Leasing company fees can include both credit
application and lease transfer fees. Each leasing company has their
own fee structure, and they vary broadly from one company to the
next. Register to find out more about your specific leasing company.
As with any change of vehicle “ownership”, there may
be vehicle licensing or registration fees required by your state.
Policies and fees vary by state. The leasing company which holds
the lease can advise you on how to manage these details, since technically
they “own” the vehicle. Some states may require payment
of taxes, in addition to the use tax normally included in monthly
lease payments. These are a matter of policy in each state. Swap-a-Lease
does not have expert knowledge of these taxes. If you are unsure
about your state’s policies, you can check with the agency
that handles taxes for your state, or ask a local auto dealer who
should be able to advise you on how taxes are handled in vehicle
purchase or lease transactions.
Are “Buyers” and “Sellers” free
to negotiate any of their own terms concerning lease transfers?
Normally the terms of the lease, including monthly payment, mileage
allowed and lease-end date remain fixed and are controlled by the
leasing company. However, the Buyer and Seller of a lease are free
to negotiate many details of the lease transfer, as long as they
do not interfere with the rules set forth by the specific leasing
company or are in violation of any laws. A common example of a negotiable
detail surrounds who will pay the leasing company's transfer fees.
Sellers are also free to offer or require cash upfront as a part
of the lease transfer deal.
How is the lease transfer initiated?
The Lease Seller starts the lease transfer process by accepting
an 'advice of offer' from Swap-a-Lease. Once a Buyer has agreed
to take over the lease and completed a credit check with the appropriate
leasing company, the Seller is then notified and the process begins
with 'letters of intention'. The seller confirms they wish to transfer
to the buyer and the buyer confirms they wish to accept the lease
transfer. At this point the Swap-a -Lease transfer fees are payable.
This is the point of 'no return' in the process.
How long does the lease transfer process generally take?
The time frame for lease transfer varies broadly from leasing company
to leasing company. Some leasing companies can complete the process
in as little as a week while others may take several. The timing
is dependent upon three factors. The first factor is the credit
decision process, which generally takes 24 to 48 hours. The second
factor entails creation and processing of the required lease transfer
documents, which generally takes 3 to 5 business days. Lastly mail
and turnaround times must be included. Typically, figure on at least
7-14 business days to complete the entire process. If you’d
like information on the typical time frame for a specific leasing
company, please Contact Us and we will be happy to share our experiences
When is the lease transfer final?
The lease transfer process is final when the leasing company receives
all required lease transfer documents and fees for the transaction.
Swap-a-Lease will advise you on how to complete the necessary documents
and when to submit the fees in each situation. Swap-a-Lease has
done extensive research regarding all major leasing company's procedures,
so please Contact Us with any questions or concerns.
What happens to the security deposit when a lease is transferred?
The depsoit is assumed to have been paid by the Seller however
in order to make a transfer more attractive to a Buyer the seller
may offer an incentive.
Who is responsible for potential lease-end charges?
The Lease Buyer would be responsible for any termination charges
at lease end. The Lease Buyer is assuming the remainder of an active
lease, and will be responsible for the lease-end terms as included
in the original lease contract. Lease-end charges may include excess
mileage fees and excess wear & tear assessments. It is important
that the Buyer satisfies themselves as to the condition of the vehicle
prior to the handover to avoid disputes over condition at athe end
of the lease. to this end an independent RAC inspection can be requested
by the buyer. The cost of this service may be apportioned by negotiation.
All potential lease-end charges will be defined in the lease transfer
Is it possible to transfer a lease to another part of the
Not at present however we are actively persuing this opportunity
with many of the top 50 leasing companies. If this is a specific
area of interest for you please register with us and we will automatically
update you on progress.
How are long-distance lease transfers normally handled?
When distance separates the Buyer and Seller, normally arrangements
to inspect the vehicle and get it to the Buyer are agreed between
the parties involved. We have seen many different arrangements work,
ranging from the Buyer or Seller driving to meet each other, having
the vehicle inspected by independent inspectors The vehicle may
be transported or driven and the appropriate charges will apply.
If you are interested in getting your vehicle inspected or having
it transported please contact us via phone or email and we will
set you up with the service. For more info, go to the services page.
Where is the vehicle turned-in at lease end?
Each leasing company has their own turn-in policies, however, if
a leasing company allows a Buyer to assume a lease, they normally
will have some provision for a new lessee to turn in the vehicle
How effective is Swap-a-Lease? (How successful are Sellers
at finding someone to assume their lease?)
swap-a-lease is a new service in UK and we have completed a numerous
transfers in order to extensively test the viability of the service
and to ensure it works effectively here in the UK. In USA ad Canada
there is a well developed market for leasing transfers. Much of
an individual Seller’s success is determined by the value
presented in the lease and vehicle being offered. When the monthly
payment is competitive and a reasonable number of miles remain on
the lease, it is more likely that the right Buyer will find the
deal in a short amount of time. Sellers can increase their odds
of success, or improve the value represented by their vehicle and
lease, by offering incentives to their basic deal. Sellers wanting
to further increase their visibility can place their auto in the
swap-a-lease Featured Auto Section. Please see Tips for Sellers
for more information on incentives and what Lease Buyers look for.
How do “Lease Sellers” save money using swap-a-lease?
Lease Sellers can save money by finding someone to complete their
lease, instead of the more costly alternatives involved in early
lease termination. If a lessee wants to pay off the remainder of
their lease, there are normally early termination penalties assessed
by the leasing company in addition to the remaining monthly payments
owed. These costs can result in early termination costs running
into thousands of Pounds. Policies vary by leasing company, so to
be certain of the terms of your individual lease you should consult
your lease documents or register with us and we wil find out on
What are the fees for the “Lease Seller”?
swap-a-lease has two levels of membership for Sellers. For Standard
Membership, a £39.99 listing fee is collected when a vehicle
is posted to the site. The listing is good for 30 days. Once a Seller
and Buyer agree to make a lease transfer and we receive letters
of intention. A £295+Vat success fee is collected from the
buyer and the seller. The success fee will be refunded if the leasing
company does not approve the lease transfer. These fees entitle
Sellers to the personal attention offered by swap-a-lease’s
experienced Lease Transfer Service agents, who will assist throughout
the lease transfer process. The listing and success fees represent
a great value when compared with the early termination costs avoided
by finding a Buyer to take over a lease and the ability to move
from Lease to Lease as required.
Special Offer: Become a Swap-a-Lease Reseller and receive an enhanced
level of benefits at a significantly lower cost. Membership is
only £99.00+Vat, and includes upto 15 listings free of charge
per annum until they are transferred. For full details fo the reseller
service register and we'll be in touch promptly.
What information will I need to list my vehicle with swap-a-lease?
Before listing, you will want to have or know the following:
1. Contact information we will use for communicating with you–
Including name, address, phone numbers, email.
2. Information about the vehicle – Including year, make,
model, style, features, current mileage, condition. - Click her
to see the 'Advertise my Lease' form.
3. Details of the lease – Including leasing company, monthly
payment, approximate lease end date (your lease contract is a good
source for these details).
How do I list my vehicle with swap-a-lease?
To list your vehicle, simply click on Sell a Lease from any page
on the site. From there you will be led through a simple listing
process where we will collect contact information, vehicle information
and details on your lease. At the end of the listing process, a
fee of £39.99 is collected by credit card. This one-time listing
fee will keep your listing active for a minimum period of 30 days
or if your have a Reseller account until you sell. If you have any
questions or difficulties during the listing process, please Contact
Us for assistance.
Can I add my own picture to my vehicle listing?
Yes, to do this, just email us the photo along with your reg number
and name to firstname.lastname@example.org. If you do not have an electronic
file, but would still like to see a photo of your actual vehicle
listing, we can scan it for you and upload the image to your listing.
If you don't have an image we can arrange to have one taken for
you just drop us an e mail.
How do I find my listing?
There are two ways for a Seller to view their vehicle listing.
You can Sign-In with the username and password chosen when creating
your account. This will take you to 'My Account'. You can also click
on Buy a lease to search for your make and model this will display
your ad as presented to the Buyers.
How do I change information on my vehicle listing or account?
You can edit your listing or update your contact information when
you Sign-In with the username and password chosen when creating
your account. To edit the listing, click on “Edit Ad”.
Simply change any details required and submit the form. The process
follows the same steps, which you followed when you originally input
your information. To update contact information, click on “Edit
Personal Information”, make any changes required and submit.
Can I offer incentives to make my listing more attractive?
Yes! In many cases it may make sense for a Seller to sweeten their
deal by offering an incentive. Typical incentives include offering
to pay transfer fees, make payments for the Buyer or even offer
cash for taking over the lease. If your payment is not competitive,
or you have used more miles than appropriate, offering an incentive
is a good way to offset these negatives and improve your odds for
success. Listings with incentives are indicated with Icons which
draws additional Buyer attention to the ad.
How do I offer an incentive?
The icons which apply to your ad are selected on the form you complet
to list your ad. Ensure your add gets the most attention by applying
all the icons that apply. If you make a mistake first time you can
always go back and amend your ad at any time prior to accepting
an 'an advice of offer'
How do I extend the vehicle listing?
You may extend your ad using your account we will notify you by
e mail when the ad is close to expiring you may extend it by signing
in. Simply click on "Extend Ad" we will at our discretion
extend your ad at no additional cost until it's sold. This is your
opportunity to amend mileage reading & incentives to prompt
more buyer interest. If you do not extend your ad it will become
dormant and may not continue to be displayed on Swap-a-Lease.
How do I cancel the vehicle listing?
Ypu can let the listing become dormant by default or e mail us
to cancel your ad. You will not receive any fee refund for making
you listing dormant prior to the 30 day expirey date.
How do I initiate the lease transfer?
To initiate the lease transfer with a credit cleared buyer complete
the 'letter of intent' and return a copy to Swap-a-Lease by recorded
NOTE: Resellers will get their clients to complete the 'letter
of intent' and return it to Swap-a-Lease
Am I still held liable once the lease has been transferred?
So long as all information declared on or before the time of transfer
is correct and all legal obligations have been observed by the Seller
the lease is transferred to the Buyer and with it all liability.
How do “Lease Buyers” save money using swap-a-lease?
The individual "buying" a lease may be able to save
a great deal of money utilizing swap-a-lease's services. When you
assume the remainder of an active lease, you get the benefits of
a late model, low mileage vehicle with no down payment, payments
which may have been subsidized by the original lessee with a cash
down payment and a short-term lease with a lower payment which
reflected a longer term lease. Visit Tips for Lease Buyers for
an illustration of the value in assuming an in-process lease.
How do I search for a vehicle at swap-a-lease?
All browsers can search the advertised leases on swap-a-lease just
go to Search Ads
What is “Ask Seller a Question”?
Just email us and we'll find out whatever you need to know.
What is “Buyer Registration / Request Contact Info”?
What are the fees for Buyers?
There are two types of fees involved in the lease transfer process
for Buyers. These include separate fees for Swap-a-Lease and the
leasing company involved. Swap-a-Lease collects a £295.95
registration fee from Buyers. Leasing company fees will vary by
leasing company, and may include a credit application fee and/or
a lease transfer fee. Information on many leasing company fees is
included at this site within Leasing Company Information. If you
can’t find information on the leasing company you are interested
in, please Contact Us and we will be happy to assist.
Do I have any control over which leasing company is utilized?
Each of the vehicles on the site is currently under lease by a
specific leasing company, and is being offered for lease assumption
by the current lessee. In lease assumptions, the original lease
terms and conditions apply. A Buyer is not agreeing to a new lease,
but is agreeing to take over the remainder of an existing lease,
through the existing leasing company.
Do I have to have good credit to assume a lease?
Each Buyer applying for lease transfer will go through a credit
approval process with the leasing company that owns the vehicle.
All leasing companies have their own standards for decision making
on credit approvals, and for this reason it is difficult to say
what type of credit history is required in order to gain approval
on a lease transfer. If you have concerns about your ability to
qualify for a lease transfer, please Contact Us and we will be happy
to discuss the situation with you.
What if I can’t find what I’m looking for?
New vehicles are listed with Swap-a-Lease every day, so if you
don’t find the lease you need today you can use the Notify
Me feature. When you register with “Notify Me” you will
be alerted by email when a vehicle matching your preferences is
What if I need to contact someone at Swap-a-Lease?
Customer service is the first priority at Swap-a-Lease. You can
contact us by phone or email with questions, concerns and feedback.
Please see the Contact Us page for a complete listing of phone numbers
and email addresses.
Does the Swap-a-Lease site work with Netscape Navigator?
The encryption software used to protect sensitive information during
communication with Swap-a-Lease has a compatibility issue with earlier
versions of Netscape Navigator. If you are using Netscape Navigator
to view the site, you may get a critical error when attempting to
access secure areas. If you experience this issue, we are happy
to assist you with any transactions you would like to make. Please
Contact Us for support.
What do I do if I forget my "User ID" and/or
From the Sign-In area you can click on Forgot Password? to request
your username and password. Just enter the email address you have
included in your Swap-a-Lease account, and the username and password
will be emailed to you. If you have any difficulty obtaining the
username and/or password, please Contact Us.