With Switchtrader.com lease sellers can exit their Lotus lease before the contract expiration date through a lease assumption or lease transfer to a buyer seeking to get into a Lotus lease, the obligation for the remaining term of the Lotus lease is then transferred to the buyer after meeting the credit criteria of the Lotus lease seller's leasing company. Fundamentally itís important to be aware of two things if youíre looking to exit a Lotus lease::
(1) At the end of the lease you're expected to return your vehicle to the leasing company with no more than normal wear and tear, excess damage or mileage over and above your contract-specified limits will be charged to you. You may have an option to purchase your vehicle at lease-end for a specified amount otherwise, you can simply return the vehicle to the leasing company and walk away. Itís important to evaluate and determine if you have equity in the vehicle which would count in your favor if you decide to purchase the vehicle from the leasing company. Making the best decision about what you do with your vehicle at lease-end returning it to the leasing company, buying it, trading it, or extending your lease requires that you look at each option carefully.
(2) The auto lease transfer process varies among companies while some leasing companies can complete the process in as little as one day others may take several business days. The length of the process depends on a few things. Primary is the credit application approval process, which usually takes 24 to 72 hours. The second factor entails the creation and processing of the required lease transfer documents, which generally takes 4 to 5 business days, the entire process takes between 7 to 14 business days to complete.
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 Lotus lease.
Switchtrader.com Lotus snapshot.
The marque was founded by racing enthusiast Anthony Colin Chapman. The first Lotus was built in 1948, and used by Chapman to compete in races. By 1955, Chapman had officially formed Lotus Cars Ltd. A company milestone was reached two years later with the unveiling of the innovative Lotus Elite. This remarkably light coupe owed its featherweight status to its fiberglass uni-body construction. Though the use of fiberglass for a car's body wasn't unique, the Elite was the first vehicle to use this material both in its skeleton and its skin. The resultant weight savings helped the Elite to distinguish itself at Le Mans and other notable races around the world.
Current two car lineup: Lotus Elise, Lotus Exige.