What is AADA Lease Exchange Network?
AADA Lease Exchange Network is a web-based company that facilitates the transfer and/or early termination of a vehicle lease. In other words, we match up people wanting to get out of their lease with people who want a short-term lease. We advertise our vehicles in a variety of places (ie. radio, newspaper, etc..) so that thousands of people have the opportunity to view our vehicle listings.
Why do people use AADA Lease Exchange Network?
With over 25 years in the leasing business the professionals at AADA Leasing have the knowledge, contacts and tools at their disposal to make the transition from one lessee to another easy. We guide you through the transfer process from beginning to end.
Why would I terminate my existing lease?
Circumstances change for most of us over a two to five year period. The vehicle that you thought would work for you may not meet your needs any longer. Change in family status, job change, transfer, promotion, relocation and even job loss can dictate a change in your leasing needs. This process allows you to upgrade your vehicle earlier than you may have anticipated and substantially reduce the costs of returning your vehicle to the dealer.
Who would want to take over my lease?
There are a variety of people that want short-term leases. Some may want to try a vehicle for a year before they buy one and this allows them the opportunity to try the vehicle for a shorter term than is normally available and it then gives them the ability to excercise the option to purchase upon termination. Some may be interested in the buyout figure that you have on your lease and wish to buy it out. Some may only be in the Ottawa area for a short period of time. Some may require another car and can avoid all the upfront costs of a new lease. It’s possible that the interest rates and residual values were better when you took out your lease than they are today. It’s a great way to buy a used car as we can offer your payout value on the web-site as an alternative to taking over your lease. In a lot of cases a sizeable down payment taken on delivery of your lease vehicle is passed on to the transferee, saving them considerable cost against a new lease.
It is the responsibility of the lessee to find out from the leasing company if a transfer is possible. AADA Lease Exchange Network does not provide refunds if the leasing company does not allow transfers.
Service records are excellent selling tools showing your potential client that the vehicle has been well maintained. It also can determine if any recalls have been issued and dealt with.
What is required to list my vehicle with AADA’s Lease Exchange Network?
Aada Lease Exchange Network will need a complete description of your vehicle including a photo, which we will take, the terms and conditions of your lease, the lease agreement with any addendums and your registration. Full details of the process of transferring your lease are found here.
I live out of province. Can I use your service?
Currently we are offering a hands-on approach and need to actually touch your vehicle and take photos. As there are different regulations for different jurisdictions, we are servicing in Ottawa and Eastern Ontario only at this time.
Is there a cost to list a vehicle on AADA’s Lease Exchange Network?
Yes, there is a cost to register and advertise your vehicle on the website. Go to our page outlining the details of transferring your lease for our full fee structure.
Can I change the information that I originally submitted?
Yes and there are two ways of doing it. You can either contact us directly or go to "My Account" on our site and submit your changed information to us via email.
How will you inform me if some one is interested in my vehicle?
We will contact you to set up an appointment. You will also be able to track interest in your vehicle via the daily amount of activity on your account.
Is there any liability to me after I've transfered my vehicle?
Liability differs with leasing companies. In some cases, the liability remains with the original lessee. The professionals at AADA Lease Exchange Network will help you determine what those liabilities might be during your initial appointment with us.
How do I look for a vehicle that I want on your website?
AADA Lease Exchange Network will have a listing of vehicle leases that people are trying to terminate. It is simply a matter of looking in the Vehicle Listings section of our website.
How do I know that the vehicle I’m interested in is represented accurately?
Each listed vehicle is viewed and photographed by our leasing specialist prior to being advertised. We review the documentation with the original lessee to verify authenticity and discuss details. You are not obligated to take the vehicle until the transfer process documentation is finalized.
Is there a cost to find a vehicle on your website?
There is no cost to search for a vehicle. Once you have found a vehicle that you would like, contact us for further details.
Can AADA Lease Exchange Network change the terms on an existing lease?
We cannot change the terms and conditions on an existing lease. The lease is between the original leasing company and the lessee.
Can I buy the vehicle at the end of the lease?
Each leasing company and manufacturer has their own set of rules and regulations. In most cases we will be able to verify that for you.
Can you keep me informed of all the new vehicles listed?
If you have created an account as a "Buyer", you can specify any number of vehicle criteria that you are interested in. We will contact you within 24 hours of a vehicle being listed that matches your criteria.
What are the costs involved in taking over a lease?
Each leasing company and manufacturer may have their own cost to transfer. These costs may become part of the negotiation between the original and new lessee.
What are the sub-lessees responsibilities at the end of the lease?
The responsibilities upon termination of the lease vary from leasing company to leasing company and will be stipulated on the lease agreement. You will have the opportunity to go over the terms and conditions before the transfer. It becomes your responsibility to get duplicate copies of all lease documents for your files.