Exotic Lease Transfer ratings, reviews and complaints - Automobile Sub-Leasing

Complaints and Resolutions

Complaint Experience

N/A

Complaint Resolution Index (CRI)

Complaint Resolution Index (CRI) Explained The Complaint Resolution Index (CRI) is an indicator on how responsive a company is in addressing and resolving customer complaints brought to their attention by BCA. If they are considering doing business with the company, consumers can use this indicator to forecast the likelihood of having their issues addressed if a problem arises. CRI measures the company's customer satisfaction abilities through BCA’s complaint mediation process.

A variety of factors are considered when calculating CRI. This includes how quickly a company responds to complaints, the number of complaints against a company, whether the company addressed complaint allegations, and the outcome of the complaints. CRI is just a subset of the overall rating for the company. Consumers are encouraged to take into consideration the company's CRI, their overall BCA letter rating and other relevant information about the company so they can make a well-informed purchasing decision.

BCA's Summary and Analysis:

Of the complaints we have received against this company, the complaint allegations are very serious. Some complaints allege the company returned vehicles with excess wear, mileage, and damages.

Some complaints allege company failed to uphold their part of contracts by not make timely payments, failed to accept responsibility or pay for damages and tickets that were obtained while the vehicle was in their possession, and failed to maintain insurance on the vehicles. Some complaints allege the company allowed employees, and others who were not potential buyers, to use the vehicle for personal use.

Although the company responded to complaints indicating they made payments to the customers to bring the lease accounts current, some complainants allege the company failed to follow through with that promise and the lease payments were still delinquent and company continued to make late payments.

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Complaint Closing Statistics

0 complaints against Exotic Lease Transfer closed in last 3 years.

Complaints	Type of response
0	Making a full refund, as the consumer requested
0	Making a partial refund
0	Agreed to make an adjustment
0	Refusing to make an adjustment
0	Refuse to adjust, relying on terms of agreement
0	Unanswered

Other Information

Company Info

Exotic Lease Transfer provides assistance in getting out of your leased vehicle by finding a credit-qualified lessee to assume your lease through the finance company.

Primary Contact:	Jeff Bluthenthal (Marketing Director)
Business Started:	11/30/2012
Social:

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Licensing

We know of no licensing or registration requirement for companies engaged in this company's stated type of business.

Government Actions

BCA has no information regarding government actions at this time.

Comments and Analysis

Subleasing your vehicle involves both practical and legal considerations. It may seem expedient to sublease your vehicle if, for example, you’re having trouble making your lease payments. But we urge caution. Our experience with similar offers is that the company handling the sublease may fail to fulfill its contractual obligations if the sublessee defaults in his/her payments. Complaints also allege that when this happens they are unable to obtain information about the sublessee from the company, making it impossible for them to collect lease payments or insure or repossess the vehicle.

Before you sublease, be sure your contract doesn’t prohibit it. Read it very carefully, since you may be subject to fines or penalties if you breach your contract. Contact your lessor and tell them what you plan to do. You may be held responsible for whatever your contract requires, such as charges for mileage over the stated limits or damage to the vehicle cause by the sublessee.

Other Considerations

Transferring your vehicle lease can be risky, and costly, if not handled properly. Not all finance companies allow their customers to transfer their lease and some finance companies may allow the transfer but do not remove the original lessee's name from the lease. BCA offers the following tips when deciding to work with a lease transfer business:

First, you need the finance company's permission before you can move forward with transferring the lease. Contact the leasing or finance company to find out if they will allow you to transfer your lease and if they have any specific terms you need to follow.

Find out what the costs to you will be. Ask the lease transfer company what their total fees are and who pays the finance company's transfer fee.

Ask the lease transfer company what their average timeframe is to locate a buyer. Typically, 30-45 days is reasonable.

Be careful with any lease transfer company that wants to take possession of your vehicle before they have found a buyer. Remember, the car remains in your name and you are solely responsible for anything that happens to the vehicle until the lease has been transferred to a new lessee. We strongly urge caution if a company offers to "sublease" your vehicle while looking for a buyer for your lease. In California, it is unlawful for a person to sublease a vehicle that they are not a party to, or named on, the lease contract.

Industry Resources

Advertising Reviews

BCA believes Exotic Lease Transfer (ELT) uses misleading and deceptive adverting to obtain customers for their Lease Transfer program. In their advertising, ELT states they connect vehicle lessees with credit-qualified people looking for short-term leases. They also advertise that they work directly with finance companies to assume your lease payments, whereby eliminating your financial burden. Once your vehicle has been placed with ELT, they state they immediately begin the process of finding a credit-qualified lessee to assume your lease through the finance company. ELT states they will make the monthly payment directly to the finance company and ELT assumes all liability under their $1 million liability insurance policy.

Documents received by BCA show Exotic Lease Transfer's contract did not uphold to their advertised services, but instead resembled subleasing contracts. ELT took possession of the vehicles but failed to contact the finance company to make payment arrangements; failed to pay monthly lease payments by due dates, causing customers to incur late fees and negative marks on their credit reports; failed to pay for tickets issued to unauthorized third-party drivers; failed to pay for damages caused to customer's vehicle that Exotic Lease Transfer had in their possession; and failed to maintain insurance on vehicles in their possession.

In reviewing Exotic Lease Transfer's website, we found the business address they use,11481 Ventura Blvd. Studio City, CA 91604 belongs to an auto repair shop and we received return mail from this address. We could not locate a verifiable address or business registration for Exotic Lease Transfer. We also noticed the photos, layout, designs, icons, and format are very similar to another F-rated subleasing company, Luxe Lease Transfer. You can veiw our report on Luxe Lease Transfer here.

Exotic Lease Transfer falsely advertises on their website they have an A rating with Business Consumer Alliance. ELT has an F rating with BCA.

Additional Info

DBAs:
There are no additional DBAs.

Websites:
There are no additional web sites.

Contacts:

Ryan Lewis (President)

Ryan Xavier Lewis (CEO)

Geoff Hull

Other Categories:

Automobile Leasing Service

Addresses:

11481 Ventura Blvd, Studio City, CA, 91604

Reputation Report

Exotic Lease Transfer

Complaints and Resolutions

Other Information