Open Lease Transfer

TheRealOrosie · 08-14-2019, 10:06 AM

Anyone ever heard of openleasetransfer.com? Seems almost too good to be true.

Vic55 · 08-14-2019, 10:38 AM

Big time pass here if I was leasing, they hold the unit and make the payments but we hold the financial responsibility until the transfer of the unit is done to the new lessee. So one's credit is still impacted and what if they crashed the car or hit someone? In CA, insurance follows the car first so it would the lessee's insurance that would be responsible and all other liabilities.

I read thru the website rather fast but I'd opt out here for sure.

TheRealOrosie · 08-14-2019, 10:56 AM

Quote:

Originally Posted by Vic55

Big time pass here if I was leasing, they hold the unit and make the payments but we hold the financial responsibility until the transfer of the unit is done to the new lessee. So one's credit is still impacted and what if they crashed the car or hit someone? In CA, insurance follows the car first so it would the lessee's insurance that would be responsible and all other liabilities.

I read thru the website rather fast but I'd opt out here for sure.

Good to know. That's what I was thinking, and their info was sketchy at best on the site.

rxtrom · 11-14-2019, 06:52 AM

Bumping this thread as I have been contacted by open lease transfer since listing my car on swap a lease.
I have had my car on swap a lease for a while now and increased the incentive dramatically so I am leaning toward going through with the open lease transfer offer. I don't like the idea however that someone will be possibly renting my car before the lease transfer with my insurance and registration.

BMW Lunatic · 11-14-2019, 11:07 AM

Do not deal with these goons. The guy who runs this is a mastermind con artist. You give them your vehicle and it will be rented to Pablo escobars wanna be drug lords criminals.

Their website is not secured - it's fake all their reviews are fake when you google them a few Legit ones are still on there .......they will ruin your credit.

Company is not listed with the BBB . Nothing verifiable . If someone around the country falls for this have them contact the FBI below Todd Wolfe California Auto Fraud Detective.

Watch this link -

Your welcome!

limeypride · 11-14-2019, 02:42 PM

I explored these guys pretty thoroughly a few times when selling past leases. I could find nothing credible to speak to their legitimacy nor efficacy so I concluded that the absence of any data, being a tell tell sign in and of itself, was enough to assume the worst. Having looked again now, I can still find nothing to refute that assumption.

My advice: hayall' no.

AddyDaddy · 11-14-2019, 03:01 PM

Quote:

Originally Posted by rxtrom

Bumping this thread as I have been contacted by open lease transfer since listing my car on swap a lease.
I have had my car on swap a lease for a while now and increased the incentive dramatically so I am leaning toward going through with the open lease transfer offer. I don't like the idea however that someone will be possibly renting my car before the lease transfer with my insurance and registration.

Do not do it!! Your liable for anything and everything

x5man · 11-14-2019, 03:24 PM

I considered them too, but then read customer's reviews on trustpilot.com

A lot of unhappy customers. I also believe that this is a breach of a lease agreement and Insurance agreement.

They rent these cars as short term rentals. You can imagine how their drivers treat one day rentals

Greer · 11-21-2019, 07:58 PM

This is so bad, stay away!

PGF90 · 11-22-2019, 10:25 AM

They have been nonstop calling me since I listed on swap lease. That was the first red flag for me. I'd stay away if i was you.

TheRealOrosie · 11-22-2019, 11:23 AM

Ya....I stayed far away after Vic55 confirmed my suspicions. I got rid of my F90 on Swap-a-Lease 3 months ago!

PGF90 · 11-28-2019, 02:44 AM

Any specific reason you got rid of the m5? I've been considering doing so myself.

08-14-2019, 10:06 AM	#1
TheRealOrosie BMW Fan Boy 446 Rep 1,385 Posts Drives: //M Join Date: Apr 2010 Location: Chapel Hill, NC iTrader: (0)	Open Lease Transfer Anyone ever heard of openleasetransfer.com? Seems almost too good to be true.
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08-14-2019, 10:38 AM	#2
Vic55 Lieutenant General 19240 Rep 10,146 Posts Drives: 2023 BMW M8 Competition Coupe Join Date: Jul 2009 Location: THE Orange County iTrader: (9)	Big time pass here if I was leasing, they hold the unit and make the payments but we hold the financial responsibility until the transfer of the unit is done to the new lessee. So one's credit is still impacted and what if they crashed the car or hit someone? In CA, insurance follows the car first so it would the lessee's insurance that would be responsible and all other liabilities. I read thru the website rather fast but I'd opt out here for sure. __________________ 2024 BMW M3 CS Frozen Solid White 2023 BMW M8 Coupe Competition Alpine White 2022 Porsche Carrera GTS Coupe Shark Blue 2020 Audi R8 V10 Performance Suzuka Gray 2012 Mercedes Benz C63 AMG Black Series Obsidian Black
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11-14-2019, 06:52 AM	#4
rxtrom Enlisted Member 6 Rep 39 Posts Drives: 19' M5 Join Date: Jun 2016 Location: CT/PA iTrader: (0)	Bumping this thread as I have been contacted by open lease transfer since listing my car on swap a lease. I have had my car on swap a lease for a while now and increased the incentive dramatically so I am leaning toward going through with the open lease transfer offer. I don't like the idea however that someone will be possibly renting my car before the lease transfer with my insurance and registration.
	Appreciate 0 Quote

11-14-2019, 11:07 AM	#5
BMW Lunatic Lieutenant 474 Rep 566 Posts Drives: 2020 M8 Convertible Join Date: May 2016 Location: New Jersey iTrader: (0)	Do not deal with these goons. The guy who runs this is a mastermind con artist. You give them your vehicle and it will be rented to Pablo escobars wanna be drug lords criminals. Their website is not secured - it's fake all their reviews are fake when you google them a few Legit ones are still on there .......they will ruin your credit. Company is not listed with the BBB . Nothing verifiable . If someone around the country falls for this have them contact the FBI below Todd Wolfe California Auto Fraud Detective. Watch this link - Your welcome! __________________ Current Stable - 2017 GLE 63S AMG Coupe 2020 BMW M8 Convertible
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11-14-2019, 02:42 PM	#6
limeypride Brigadier General 4424 Rep 4,109 Posts Drives: 2022 M8 Competition GC Join Date: Oct 2016 Location: Orlando area, FL iTrader: (0)	I explored these guys pretty thoroughly a few times when selling past leases. I could find nothing credible to speak to their legitimacy nor efficacy so I concluded that the absence of any data, being a tell tell sign in and of itself, was enough to assume the worst. Having looked again now, I can still find nothing to refute that assumption. My advice: hayall' no.
	Appreciate 0 Quote

11-14-2019, 03:24 PM	#8
x5man Private First Class 80 Rep 100 Posts Drives: 2024 M8 Gran Coupe Join Date: Aug 2015 Location: Boston, ma iTrader: (0)	I considered them too, but then read customer's reviews on trustpilot.com A lot of unhappy customers. I also believe that this is a breach of a lease agreement and Insurance agreement. They rent these cars as short term rentals. You can imagine how their drivers treat one day rentals
	Appreciate 0 Quote

11-21-2019, 07:58 PM	#9
Greer Colonel 1889 Rep 2,509 Posts Drives: 2022 M5 Competition Join Date: Dec 2007 Location: Los Angeles iTrader: (0)	This is so bad, stay away! __________________ 2022 F90 M5 Competition & 2019 M2 Competition 2019 F90 M5 Competition 2017 F80 M3 Competition 2014 F10 M5 Competition 2003 E39 M5
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11-22-2019, 10:25 AM	#10
PGF90 Private 38 Rep 70 Posts Drives: 22'G80 M3 18'F80 M3 18'GLC63 Join Date: Nov 2019 Location: CT iTrader: (0) Garage List 2018 F80 M3 [0.00] 2022 G80 M3 [0.00]	They have been nonstop calling me since I listed on swap lease. That was the first red flag for me. I'd stay away if i was you.
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11-22-2019, 11:23 AM	#11
TheRealOrosie BMW Fan Boy 446 Rep 1,385 Posts Drives: //M Join Date: Apr 2010 Location: Chapel Hill, NC iTrader: (0)	Ya....I stayed far away after Vic55 confirmed my suspicions. I got rid of my F90 on Swap-a-Lease 3 months ago!
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11-28-2019, 02:44 AM	#12
PGF90 Private 38 Rep 70 Posts Drives: 22'G80 M3 18'F80 M3 18'GLC63 Join Date: Nov 2019 Location: CT iTrader: (0) Garage List 2018 F80 M3 [0.00] 2022 G80 M3 [0.00]	Any specific reason you got rid of the m5? I've been considering doing so myself.
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