Leasing Checklist

For Buyers and Sellers

• Post your vehicle/search for a vehicle.
• Contact the Seller.
• Start negotiations and document the deal.
• Buyer submits credit application to Leasing Company/Dealership.
• Vehicle inspection/prepare to finish the deal.
• Transfer plates and deliver the vehicle.

Step 1 – Post your vehicle/search for a vehicle

• Our Leasing Specialists will make your vehicle posting enticing to buy, include all options, odometer reading, lease details, and pricing incentives. Seller, make sure the vehicle is in great condition and ready for sale.
• Buyer, be specific in your search to get the vehicle you want. Set up vehicle alerts. Read the listing pages carefully and make a short list of the vehicles you may wish to lease.

Step 2 – Contact the Seller

• Buyer makes an appointment with the Seller to view the vehicle.
• If you’re happy with what you see, do a road test on the spot.
• Ensure the vehicle options and odometer readings are consistent with the listing page.
• Review maintenance and service records (if available).
• Request a copy of the original lease to ensure consistency with the listing page.

Step 3 – Start negotiations and document the deal

• Buyer and Seller start negotiations and document all aspects of the deal on the Offer to Lease.
• Buyer, make sure you understand the incentives/down payment, condition of the vehicle, number of kms, number of months left in the lease, and who is paying for the transfer fee.

Step 4 – Submit a credit application

• Seller (original lessee) provides dealership contact information along with a credit application from the leasing company.
• Buyer completes and submits the application to the leasing company or business office of the dealership.

Step 5 – Vehicle inspection/prepare to finish deal

• When Buyer receives credit approval from the leasing company, Buyer and Seller address all pre-delivery items on the Offer to Lease. Ensure vehicle passes inspection at an accredited service facility then set a date for vehicle exchange and completion of documentation.

Step 6 – Transfer plates and deliver vehicle

• Make sure all financial components of the deal (certified cheque, bank draft, cash) have been satisfied before you sign the lease transfer contracts or take possession of the vehicle.
• Make sure both parties (original lessee and new lessee) are present during the closing of the deal. For an out of province deal, your agent acts on your behalf.
• The dealership looks after the vehicle licensing.