If you feel stuck in an auto lease that you just can’t get out of, there is now hope. There may be many reasons to feel the need to get out from under lease payments; be it personal finances, changes in the auto market, or recent changes in the size of your family. The best way to get out of your lease is to find someone who will take it over, but how can you find someone?

LeaseTrader.com is a lease-brokerage company that enables consumers to advertise vehicles and their remaining leasing terms to potential buyers looking to take over existing leases. The consumer gets out of a lease without paying a big penalty and without a “nasty” showing up on the credit report. The buyer gets the benefit of choosing the car he or she wants and only committing to a short-term lease.

Lease Trader does what is called a “lease transfer” or “lease assumption.” Leasing companies have strict policies regarding sub-leasing or assignment. Most of them will only allow for it if in fact the prospective new leaser has similar or better credit than the original lessee. A credit check has to be run on the person taking over the lease. Once qualified, the lease transfer process begins.

By the way, if you’re a buyer with good credit, you can find a good deal. However, if you have poor credit, you probably won’t even get past the initial credit check. Make sure your credit is in order so that you are not delayed.

The simplicity of LeaseTrader.com is the person who currently has the lease pays a listing fee of about $40. A potential “buyer” is charged a $25 credit application fee by Lease Trader. If the buyer passes the credit screening, the lease broker will connect the seller and the buyer to finalize the actual deal. However, it still has to be approved by the original leasing company.

This unique marketplace offers a short-term lease that normally wouldn’t be available. While there are additional transfer and processing fees, a buyer can often get into the deal without having to put any additional money down.

Overall, depending upon how important it is to you to get out of your auto lease, LeaseTrader.Com appears to be a viable avenue.