Lease takeover
03-10-2008, 03:57 AM
#1
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Lease takeover
has anyone here ever done this?
just curious...in anticipation of my DD retiring, i've started casually looking for a new car...
leaning towards a lease at this point, and always wondered about assuming someone else's lease.
the way i see it the pros include-no downpayment. the cons-you're leasing a used car. there also are some associated fees-transfer of lease, etc.
anyways, any thoughts are welcome
-c
just curious...in anticipation of my DD retiring, i've started casually looking for a new car...
leaning towards a lease at this point, and always wondered about assuming someone else's lease.
the way i see it the pros include-no downpayment. the cons-you're leasing a used car. there also are some associated fees-transfer of lease, etc.
anyways, any thoughts are welcome
-c
03-10-2008, 08:14 AM
#2
No experience at all, but I've heard that you should be very careful, don't make a hasty decision, and get very clear and in writing who's responsible for what. But all that was kind of obvious.
03-10-2008, 09:19 AM
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I was originally looking into lease take over as well on Z4M and process seemed fine to me.
I would just ask for the lease return check points prior to taking over the lease, if vehicle is fine, why not lease a shorter months lease with no down payments + low lease payments???
I think it is sweet.
But....I ended up on a brand new lease from BMW because they offered a killer deal.
Good luck!
I would just ask for the lease return check points prior to taking over the lease, if vehicle is fine, why not lease a shorter months lease with no down payments + low lease payments???
I think it is sweet.
But....I ended up on a brand new lease from BMW because they offered a killer deal.
Good luck!
03-11-2008, 10:32 AM
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I got rid of my 330i by having someone assume my lease. I initially had it on leasetrader for months with no response. I put it on craigslist and in a few weeks the deal was made. If you do assume someones lease make sure you have them take it to a dealer for a lease return inspection before you assume the lease. That way if there is anything wrong you can have the original leasee have it taken car of. For me i just had to fix a small chip in the windshield. In regards to leasetrader and swapalease, you don't have to go through those sites to finalize the transfer process. Some manufacturers make it extremely easy to do on your own (ie BMW). Just have the original leasee call up the financial institution he is leasing from and they will send the paper work out.
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03-11-2008, 05:35 PM
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Originally Posted by asng,Mar 10 2008, 11:13 AM
i listed my good old E350 Benz on leasetrader.com. someone took over my lease. PM me if u have questions.
the transfer process took around 4 to 5 weeks....
the transfer process took around 4 to 5 weeks....
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