How to save the deal when they are stuck in a lease

The Dealer Geek Marketing

How many times each month do you lose a deal because your customer is buried in an existing lease?  Check with your sales staff and you will find that almost every one of them has talked to someone in the last 30 days who is in this situation.  Are you aware that short term leases are in high demand?  If you can’t put a deal together, why not consider doing a lease transfer?

Lease transfers are becoming the norm in many dealerships.  Usually the customer advertises their vehicle privately, finds a buyer and shows up at the Business Manager’s door to do the transfer paperwork.  Dealers get frustrated; since their original customer has already made a buying decision and often, isn’t buying a new car from them.

Rather than discouraging lease transfers and punishing their customers with admin fees, some dealers are starting to embrace them and are selling more new and used cars because of this.  Change is a fact of life and often the perfect leased vehicle is no longer suitable part way through the three or four year lease period.  Randy Warren from LeaseBusters.com says “Over 80% of the people that contact us have had a lifestyle change.  They are having another child and need a larger vehicle or they have had a major financial change in their life and need to downsize.  These customers need to make the change NOW and are often turned away by their original selling dealership.  The dealer doesn’t want to bury them and isn’t aware that a lease transfer is a viable and simple way to solve their problem.  Once the original lease has been transferred, the dealer can sell them a new or used car that better suits their needs.  Lease transfers are growing exponentially, and the dealers that recognize this and promote them are retaining more customers each and every month.”

LeaseBusters has Customized Dealer Programs and dedicated Dealer Account Managers available to assist dealers when they find themselves in this predicament.  Why not call 1-800-357-2678 and find out if your customer’s lease can be transferred quickly, allowing you to get that new or used car over the curb before the end of the month!

By Ryan Thompson:

Ryan ThompsonRyan is the Canadian Account Manager for CarChat 24, and also the founder of The Dealer Geek a site to provide the basics for “America North” aka Canada.  Follow his 2 twitter handles : @ryan_carchat and @thedealergeek

Working both in the dealership and on the vendor side, I have spent the last 10 years of my life studying the car business. I love car dealers. I love blogs. I am The Dealer Geek.

Please note: I reserve the right to delete comments that are offensive or off-topic.

  • Great article… I personally love leasebusters. I’m on my 5th car in 5 years thanks to LB. And each time I took over a lease, the original lesee was looking to switch because their needs changed.

    For me, it works out great because I tend to use higher than average mileage, and I get to drive a car with plenty of miles without penalty.

    The dealer, if they get involved, gets a chance to win a new vehicle sale, and a new service customer. If nothing else, they get people calling and interacting with them. If they make a good positive impression, they may come back later for a new vehicle if they can’t find a lease to take over.

    WIN, WIN, WIN …