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I don't understand the reviews people make. Based on my experience the company was excellent. I am on my second transfer - I have nothing but a good review for the company - unlike other websites, LeaseTrader filters buyers by good credit and bad credit. This is very important. The first person taken over my lease was credit approved by BMW - Swapalease gave me 11 people with no credit - that was a waste of our time. LeaseTrader is worth the money. My advice if you don't have credit don't waste our time.
This website is a hoax. Please advertise through lease swapalease.com. All fees are non-refundable so please be careful and read all the terms before signing up. Customer service is very bad and they don't appreciate the customers. They never help in the process and the call is about how to charge more money.
LeaseTrader won't issue refund based on false advertisement. Paid member fee based on advertised lease take over price and terms. Overnight this lease take over terms were changed rendering my membership useless. Called and spoke with a man who was unwilling to be professional and address a customer’s concerns. It was a bait and switch with lower pricing and changed once I paid member fee. Horrible customer service.
I just created an account on this website to put this out here: DO NOT SIGN UP ON LEASETRADER. It is an absolutely disgusting scam with outrageously uneducated and inexperienced customer support. They charge you money to buy a subscription but don't let you contact vehicle owners unless you go through a credit check for which they have hidden fees and will charge you 40 bucks. Their customer support literally needs lesson in behavioral management and customer service. Their support is absolutely nonsense and their customer support people have a serious attitude problem. My advise: Stay away.
Please STAY AWAY from LeaseTrader! I'm not one to write reviews, in fact, this is the first review I've written because I felt it would be unfair not to warn people about this fraudulent company. So to start with, not only do they have terrible customer service but they literally steal money from you by charging fees every way they can. In my particular case, I was about to transfer my lease to a potential buyer (after being on the website for more than 11 months) to initiate the process the seller needs to fill out a document and pay a $150 fee which I was willing to do if the car got transferred. Last minute the buyer decided that he was not going to take the car but LeaseTrader charged me the $150 fee anyway and claimed that was to initiate the paperwork, even though no paperwork ever got filed since the buyer never went through with taking over my lease.
I contacted LeaseTrader to get a refund which is the obvious thing to do since my car never got transferred, they told me there was nothing they could do and kept the money. I should note that I had already paid LeaseTrader $250 to have the car listed on their website but I barely got any leads on my car and it's not because the car was old with lots of miles on it, it was actually a new Mercedes with very few miles on it, I never thought it would be so hard to get leads on it but apparently on LeaseTrader it is. All in all TERRIBLE SERVICE, I ended up asking the agent to take my car off of LeaseTrader, the agent didn't even care. There was no customer retention policy to try and keep me on as a customer and I guess it makes sense since they've already charged me all the fees they could manage for nothing in return. PLEASE save your money and time and list your car elsewhere. Carmax and Autobuy are great options!
PLEASE read this. Do not do business with this company. I read the negative reviews ahead of time, but I decided to go forward thinking all the complaints were from people who didn't read the fine print and then were angry afterwards. Let me tell you, I read the fine print and I still got hosed by this company. I am very meticulous about reading agreements and thought I knew what I was signing up for. Not the case!
I got charged a bunch of fees from the company, and they were for them doing absolutely nothing!! I paid the listing fee to advertise my lease. Fine, I agreed to that. However, I was matched with a buyer (after about 9 months of unqualified buyers asking for ridiculous incentives). I called Lexus and was told that I could go through them directly. LeaseTrader would basically only act as a middleman for paperwork and would just slow down the process. So the buyer and I decided we would do it ourselves and save the fees from LeaseTrader. We lived only 15 minutes apart so it made sense for us to meet in person and fill out paperwork and get the process done as quickly as possible.
Everything went well until I got a call from a LeaseTrader manager. He told me he was a "buyer" and asked if my car was still available. I told him no that I was transferring vehicle to someone. This is when the problems started. I was charged fees at this point, even though the buyer and I had completed the lease transfer ourselves! They make it seem like if you choose to use them to facilitate the process, then you get charged fees for their "help". THIS IS NOT TRUE!! They charge you the fees no matter what, and you have to do all the paperwork with the leasing company yourselves. What are they charging for??? I paid a listing fee, around $150, and the buyer paid a large fee for an account and credit checks already. I was told the fees were for LeaseTrader matching us up... We already paid those fees, for both a seller account and buyer account.
This manager lied over and over. He literally called me pretending to be a "buyer" interested in my vehicle. I called back the number from caller ID after hanging up and it was LeaseTraders number! I asked why he pretended to be a buyer. He told me that he didn't, he was just asking if the vehicle was still available. He NEVER said he was from LeaseTrader. He was basically trying to find out if I found a buyer, which I had. He then started the process from LeaseTrader and hence all the fees... We already were finished with the process but now LeaseTrader wanted money from both of us.
He threatened me and told me he could charge me $250 penalty for not reporting the car, and $100 fee for each buyer that contacted me about the vehicle. He told me he was doing me a "favor" by charging me less fees. This place lies!!! They are very sketchy. I told them I was an honest guy and had I known that they were going to charge me all these fees I would have cancelled the listing and just worked with my buyer 1 on 1 like we did. He said that I couldn't do that. I asked how he knew I was transferring and he told me he read my messages on LeaseTrader and saw that I told someone the vehicle was not available, so they read all your correspondence through the website.... very shady.
I was going to dispute the charges with my credit card company but here's the kicker. In big bold print on the invoices they email, there is a statement. "Disputed charges will be turned over to a collection agency and all attorney fees will be billed to the seller." Obviously they know this happens all the time if they print this. So if I dispute it with my credit card company, even after I blocked any further charges from them with my credit card company, they will send you a bill later for who knows how much for their fees in the dispute. I could only imagine how much that would be for their attorney fees. So I decided to just eat the charges and pay them.
So basically they charged my fees for services they didn't perform. As other people have stated on here, it seems like they will do all the paperwork and help with the lease transfer. Nothing could be further from the truth. Basically they collect fees because they found you a buyer. Fine, that was the listing fee I paid. Why are they charging me other fees for absolutely nothing?!?!
Again, this is the most shady company I have dealt with. Having a manager call me and pretend to be a buyer just shows how they operate. I told him that was illegal and I was going to file a complaint with the police for him misrepresenting himself. He told me, "I choose my words very carefully when I talked to you. I never said I was interested in taking over your lease. I was just asking if it was still available." Really? That's how a business operates? I told him he should have stated he was calling from LeaseTrader and explain to me that if the vehicle wasn't available, I needed to take down the listing. Fine, no problem. He never said anything like that. After we talked, fees started coming in.
I can't tell you how much I would like to warn you to stay away from this company!!! They were rude to me, actually laughed at me, when I told them how disappointed I was in their actions. They really need to be more upfront about the fees. I am always very careful to know what I am signing up for. I read everything they sent me. They never made it clear that there would be fees coming down the road even if you decided to do the transfer on your own. Basically they make it seem like they will do everything for you once a buyer is found. If that was the case, fine. I'm all for paying a company for work they perform, I have no problem with that. But to pay a bunch of fees for nothing is ridiculous.
They know what they are doing. they are very good at hiding their policies and then taking advantage of people. If you read other reviews, everyone says the same thing. They make it seem like they make everything easy for a lease transfer, but it's the opposite. All they do is connect a buyer to a seller, and that is paid for with the listing fee and buyer account fee. All the other fees is just taking advantage of the customer, and they know it.
Once you make a listing with this company, they have you!!! Even if you decide not to lease your vehicle later be prepared for more fees. It's not as simple as they make it seem. Make sure you know what you are getting into if you decide to use this company. Ask questions and make sure you understand how the process/fees work. If you understand what you are getting into, I doubt most people will use this company. Do your research ahead of time, it will save you hours and hours of time, and a lot of money!!!
I paid for a 3 month membership thinking my 700 credit score would be sufficient to be approved. Failed. After trying again with updated information they wanted to charge me 30 dollars again just to re-run a soft pull on my credit. This site has scam written all over it. Save your money!
From reading the services listed on their website I was under the impression that they were a mediator that would help facilitate the transfer process but they are not. If you want to list a car and potentially find a buyer you can use them. If you're unsure of how the lease trading process works, they are very unhelpful and expensive. $200 to list your vehicle, $20 a month for the search engine submission. If they find a buyer it's another $250 commission fee, $120 if you'd like the "concierge service", and $150 for a vehicle inspection. These are just seller fees. The buyer is subjected to their own fees.
The "concierge service" is pointless. For the $120 fee somebody is supposed be assigned to your account to help facilitate the process. This is not the case and the customer service is horrendous. Nobody answers the phone. It goes straight to voicemail. When I eventually talked to someone they were very rude and unhelpful. You will have to do everything between the finance company and the buyer. Do not expect anything from them even with the extra $120 for the "concierge service."
First I paid $35 for a two month subscription (there's no guidance as to what package to buy on the site and I only wanted one car that I had seen on there). So I did that (I failed the first credit check and had to pay $30 more for a second one) - who charges for a credit check??? WARNING: Watch for the auto renew setting which defaults to YES without notifying you. Once I had that I found out the car I wanted was no longer available and hadn't been for some time. There are very few cars that I wanted on there and the two I saw that were vaguely close to what I wanted have both failed to respond to any communication through the 'Buyer portal'. So I completely wasted a month and $65 - and don't bother calling them - they're abrupt and unhelpful.
I joined for a month account paying around 39 dollars (don't remember the exact amount). I shortlisted a car (some like 8 months, and 250 dollars a month), they wanted to do credit check (I really don't understand why they need a credit check for 2000 dollars, it is very weird!), and said that I failed the credit check - but said that they can't give any details!
I know my credit score, and have access to my credit report. My score is above 700, no bad entries and stuff like that. I emailed them to tell me their method to fail me, there was no good response, except that I can ask for another credit check or take a guarantor! I sent them another email saying that I am not interested in their account any more, asked them to remove my credit card details from their website, and close my account, there was no response! Of course, they never pick the telephone, I called at least 3 three times during day time, they say every time that their office is closed! I just feel cheated by this website, who at the end of the day has not just taken away 39 dollars, but did a pull on my credit without any good reason, and more than anything else wasted a lot of my time for no good service. I wonder what are the checks and balances in the system to allow such companies to operate.
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