Answer all questions about changing car lease contracts.

“Non-performing debts soar! Cars seized reach 30,000 units/month”

“Crisis! Cars with finances likely to be seized up to a million units in 2023”

The headlines above are just a few of the news about car seizing finances that we see almost every day. The cause is the rather sluggish economy. The income of those who lease cars has decreased, causing problems with liquidity in paying installments, causing anxiety and stress. However, this article will help you find a solution by explaining about changing car lease contracts in all aspects, answering all doubts such as how many days it takes to change the car lease contract, or if there are any expenses if you want to change the car lease contract, including the question that many people are wondering about, whether changing the car lease contract will damage your credit. Let's find all the answers to these questions together.

What is changing the car lease contract?

Changing the car lease contract means transferring the right to be the current car leaser to another person. The transferee must accept all obligations according to the conditions of the original lease contract, including paying the remaining installments until the contract expires.

The process of changing the car lease contract starts with finding someone interested in transferring the rights. The transferor must inform the car loan company for details on terms and conditions and procedures for transferring the contract. The transferee must then pass a preliminary qualification review, such as financial history, credit score, and income.

Most car lease contract conversions are as follows:

Cash sale and closing all debts: This is the easiest method. The seller must find a buyer who is ready to pay cash to buy the car and use the money to close all debts with the finance company. Once the debt is closed, the seller will receive ownership of the car back and can transfer ownership to the new buyer.

Down payment sale and change the car lease contract for the new buyer to continue paying: This is a popular method because it is convenient for both the seller and the buyer. The new buyer must make a down payment for the car, then transfer the rights to the lease contract from the original seller to himself and take over the remaining installments until the contract expires.

Conditions for changing the car lease contract

In order to prevent the risk of default, the financial institution must set conditions when changing the car lease contract. The details are as follows:

The transferee of the new lease contract must have a guarantor with suitable qualifications: such as having a regular income There is collateral, etc., to provide security in case the transferee is unable to pay the installments on time. In addition, in some cases, there may be a requirement that the transferee pays 1-2 installments in advance to demonstrate the ability to pay.
Car inspection: The car itself must be thoroughly inspected. It must be registered with the Department of Land Transport and be ready to use without any damage that may affect the value of the car.

Document preparation: Important supporting documents must be prepared, such as a copy of the ID card, house registration, salary certificate, etc., for the loan company officer to consider.

People negotiating to change the car lease contract

Frequently asked questions about changing the car lease contract

Q: How many days does it take to change the car lease contract?

A: It takes no more than 7-10 business days if the documents are clear and there are no problems.

Q: Are there any costs for changing the car lease contract?

A: Changing the car lease contract costs the procedure, but it is not fixed. It depends on the conditions of each financial institution, but on average it is around 1,500-4,000 baht.

Q: Does changing the car lease contract damage credit?

A: Changing the car lease contract does not damage credit. Unless the car is traded without changing the car lease contract in front of the finance company, which is illegal.

Easily change the car lease contract by selling a used car at Autovilla

For anyone who has liquidity problems, cannot continue paying for the car, and wants to change the car lease contract by selling instead of refinancing, we recommend Autovilla, a used car purchasing center, including selling and exchanging cars, with finance services. Easy to close the sale, receive money immediately, helping to reduce expenses from car installments that must occur every month. For more information, please contact

Srinakarin branch, Tel. 097-921-9552

Romklao branch, Tel. 095-906-0633

Lam Luk Ka branch, Tel. 092-940-5098

Reference information:

New car-motorcycle lease contract Effective January 10, 2023. Retrieved March 20, 2024 from https://www.bangkokbiznews.com/politics/1046913
Type 5 Hire-purchase (Sections 572 - 574). Retrieved March 20, 2024 from https://www.drthawip.com/civilandcommercialcode/085