Reply With QuoteNever used this but I've heard of a few ppl using it.
Buy out a lease with a few to several months left. Just be careful of mileage left on the lease, does no good if you cant hardly drive it.
http://www.swapalease.com
Has anyone ever heard of a short term lease? 1-2 months? I had never heard of such a thing before today but my neighbor said he did it 2 years back. He leased a Toyota Tacoma in Oregon. I'm going to be without wheels at the end of the week until I figure out what I am going to order I may be forced to rent a car for a month. :jawdrop: :jawdrop:
Never used this but I've heard of a few ppl using it.
Buy out a lease with a few to several months left. Just be careful of mileage left on the lease, does no good if you cant hardly drive it.
http://www.swapalease.com
Isn't the original purchaser still liable for the mileage? I didn't think you could ever truly get out of a lease, if with those swap deals.
I'm not sure, I would think the person taking over the lease assumes that.
This is off their FAQ section.
Who is responsible for potential lease-end charges?
The Lease Buyer would be responsible for any termination charges at lease end. The Lease Buyer is assuming the remainder of an in-process lease, and will be responsible for the lease-end terms as included in the original lease contract. Lease-end charges may include disposition fees, excess mileage fees and excess wear & tear assessments. All potential lease-end charges will be outlined in the original lease document.
OK, that is maybe my confusion. I looked into this a while back, but Bank of the West didn't allow anybody to assume your lease, so I could have done the swap, but I would have been on the hook for the remainder of the lease. It ended up not being a good deal for me because I couldn't fully get out of it.
Its funny though, you call your lease company and they say no, but some how these ppl get to do it. My Caddy I could of done the lease trade with them, but if I tried and do it privately they said no way. Maybe they were feeding me BS but I guess there is always a way to do things.
check out swapalease.com if they still exist. Interesting deal if the lender would agree and you could avoid any liability on the selling side.
Never used this but I've heard of a few ppl using it.
Buy out a lease with a few to several months left. Just be careful of mileage left on the lease, does no good if you cant hardly drive it.
http://www.swapalease.com
Thanks for the link. I'll be making some inquiries soon.
Just buy a little hoopty for cheap and then turn around and resale it.
Well that was the thought at first. That is until my neighbor told me about a short term lease. I didn't want to invest in a $1500-3000 POS for a month or two and try to sell it later. Only because of the headaches it'll probably produce trying to sell it later. I'm not ruling it out entirely though. There are some decent deals on the site Blown65 mentioned.
Just buy a little hoopty for cheap and then turn around and resale it.
Oh yeah, did you have a cheap hoopty in mind?
Normally if a lease is reassigned the new leasee has to qualify with the leasor.
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