How do I transfer an auto lease to my friend?

Question:
got a 36 month car lease. 20 months into it, I got re-located to new york city (no need for a car). I have a friend here who needs a car, and is willing to take on the next 16 months of the lease. Can I legally do this (without it costing money)? He's a friend, but I dont want to get screwed if he wrecks the car, or doesnt pay.

Answers:

Should i buy a infinity g35 or should a i get a classic muscle car?

You can transfer the lease to your friend and the only costs should be documentation and transfer fees. The only legal way to do it is through whoever the lease company is or dealership. Your friend must be approved by them. They actually own the car and you are renting it until it is bought out so you can't sell or transfer ownership without their permission. If you just keep the car in your name and let him drive it and pay for the lease payments you are still liable for the car. and if he misses payments, wrecks the car etc you will be responsible. The lease agent can handle the transfer if they approve your friend

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