With the services of Switchtrader.com lease sellers can exit their Lincoln lease before the contract expiration date through a lease assumption or lease transfer to a buyer seeking to get into an Lincoln lease, the obligation for the remaining term of the Lincoln lease is then transferred to the buyer after meeting the credit criteria of the Lincoln lease seller's leasing company. Fundamentally Itís important to be aware of a few things if youíre looking to assume a Lincoln lease:
(1) After identifying the vehicle youíd like to assume itís lease contract itís important to have at least some cursory knowledge about leasing. All your rights and obligations are specified in the Lease Contract, so itís important that you read and verify your understanding of a lease contract before finalizing a deal, if youíre unfamiliar with leasing, an excellent repository of consumer information on leasing can be found at http://www.federalreserve.gov
(2) The first step in the process is to contact the seller to arrange a meeting at a mutually convenient time and place, Obviously the vehicle must be made available for your inspection but additionally, inform the lease seller to also bring the following to the meeting: (a) The lease contract (b) The service maintenance records. Obviously the condition of the vehicle is a primary concern as you will be held responsible for the condition of the vehicle at the end of the lease. Unless youíre mechanically inclined and trust your own judgment Switchtrader.com recommends you get a professional third party vehicle inspection provider (link to lease partners page).
(3) There are a few things to look for in the lease contract as you inspect it.(a) The ending date of the lease contract (b) The total miles allowed (c) The cost per mile of additional miles beyond the standard allowance (d) The monthly payment(e) The end-of-lease terms including the buy-out value (buying your leased auto at the end of the lease can be attractive),(f) Any end of lease disposition fees(g) Excess wear and tear provisions(h) Security deposit requirements.
(4) Before going to the meeting write down all your possible questions to ensure your examination stays on track as most times meetings tend to digress from the issues at hand. Also be sure to confirm which party pays the transfer fees and how your security deposit transfer will be handled, we recommend our lease partner escrow service (link to lease partners page) After coming to terms with the lease seller both parties must then advise Switchtrader.com of the agreement.
(5) Switchtrader.com provides the technological platform and marketplace to facilitate the coming together of lease sellers and lease buyers to further their interests in exiting and entering automotive leases, we are the ONLY! lease transfer marketplace that allows video uploads of lease sellers vehicles in addition to the standard digital images, certainly the combination of both a short video clip complete with voiceover capability and the digital images provides a powerful and compelling presentation to lease buyers as they search for the perfect Lincoln lease.
Switchtrader.com Lincoln snapshot.
The company was established in 1917 by Henry Leland, an automotive parts manufacturer who had previously founded the Cadillac brand. He named the company after his boyhood hero: the 16th U.S. president, Abraham Lincoln. Early Lincoln models include the L Series and the K Series. The company quickly hit dire straits, however, and was bought by Ford Motor Company in 1922. The '90s saw the debut of the last Mark, the Mark VIII, which featured a four-cam V8 and air suspension. By this time, sport-utility vehicles had emerged as segment to be reckoned, and Lincoln made the most of this trend by launching its very first SUV, the Navigator, for 1998. Dripping with leather-swathed affluence, the luxury SUV was a breakout hit. More recently, Lincoln has expanded its lineup with a pickup truck and entry-level models in hopes of attracting a new generation of consumers. Many of its offerings fall short of the competition in areas such as athleticism and refinement. Still, the marque is a favorite of car buyers seeking a generous dose of all-American luxury.
The current lineup reads as follows:Lincoln MKX, Lincoln MKZ, Lincoln Mark LT, Lincoln Navigator, Lincoln Navigator L, Lincoln Town Car.