1. The contract numbers
- Monthly payment including tax, confirmed against a recent lease statement.
- Number of payments remaining and the exact end date.
- Kilometre allowance, kilometres used, and the per-kilometre charge for going over.
- Residual (buyout) value at the end of the term.
- Name of the leasing company, and whether it allows transfers at all.
- Transfer fee, and who is paying it.
- Whether the seller is released from liability after the transfer.
2. The vehicle
- Odometer reading today, compared with the listing and with the allowance left.
- Factory warranty remaining, and any prepaid maintenance that transfers.
- Service history, and anything due soon.
- Accident or insurance repair history.
- Tires: tread depth, whether winter tires are included, and whether they are run-flats or an expensive size.
- Wear that will be billed at return: wheel curb rash, windshield chips, upholstery damage, dents.
- All keys, cables, cargo cover and manuals present.
3. The money
- Effective monthly cost, not the sticker payment: (payment with tax × months left + fees you pay − incentive) ÷ months left.
- Insurance quote on this exact vehicle, with the coverage the lessor requires.
- Registration cost in your province.
- Any security deposit the lender asks for.
- Cash incentive agreed in writing, payable only when the transfer completes.
4. The paperwork and handover
- Credit approval from the leasing company — in writing, before anything is paid.
- The lessor's own transfer documents, signed by both parties.
- Registration and plates updated as the lessor instructs for your province.
- Insurance active from the moment you take the keys.
- Photos of the car's condition at handover, kept until the lease ends.
Red flags: a seller who wants a deposit before lender approval, who will not share the lease statement, who insists you "just take over the payments" without the lender, or whose odometer does not match the listing.
Common questions
What should I ask the seller first?
Which leasing company holds the lease, the payment including tax, how many payments and kilometres are left, and the residual value. Those four answers decide whether the rest is worth your time.
Can I inspect the car before taking over the lease?
Yes, and you should. Meet in daylight, compare the odometer with the listing, and consider a licensed shop inspection on a premium vehicle.
Should I pay a deposit to hold a lease takeover?
Not before the leasing company approves you. Approval is the only thing that makes the transfer possible, so any money that moves earlier is at risk.