Automotive

will dealer transfer lease without license or insurance?

  • Last Updated:
  • Jul 20th, 2018 11:50 am
[OP]
Sr. Member
Jan 12, 2013
849 posts
23 upvotes
Toronto

will dealer transfer lease without license or insurance?

I am looking to get a lease transferred over to my name end of this month, but I will not have a license plate nor insurance for the car, as i already have a car right now that will be return end of september. I will be driving the new car end of september after i return my current car, and the new car wont be driven till then. Will the dealer be ok with that?
4 replies
Deal Addict
User avatar
Sep 22, 2012
3884 posts
3340 upvotes
Richmond Hill
No, I can't imagine the financing company willing to allow their collateral to be uninsured.
Deal Expert
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Jul 30, 2007
27545 posts
12591 upvotes
Toronto
get new plate & sticker for the leasetakeover car and you have to get new insurance as well, otherwise, MTO will not register you the car.
Member
Mar 6, 2008
452 posts
195 upvotes
Ottawa
ap2wang wrote: I am looking to get a lease transferred over to my name end of this month, but I will not have a license plate nor insurance for the car, as i already have a car right now that will be return end of september. I will be driving the new car end of september after i return my current car, and the new car wont be driven till then. Will the dealer be ok with that?
The lease requires the car to be insured at all times, and the insurance must meet the minimum requirements of the lessor. I doubt what you're proposing is going to fly.
Deal Fanatic
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Aug 11, 2008
8715 posts
1355 upvotes
Ontario
the Lessor will want proof of insurance prior to changing the lease into your name.
RIBO LICENCED INSURANCE BROKER, over 35 years experience

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