Lease Takeovers Make Great Car Deals

Exit your lease EARLY with NO PENALTIES!

Most people who are thinking about buying a new car want the most car for the lowest possible monthly payment.

One way to do that is to use the information on this web site regarding which brands and models have current manufacturers’ incentives — rebates, bonuses, low interest loans.

These deals are only good for a limited time, usually one month, and you have to act quickly if you want to take advantage.

However, if you are looking for even lower monthly payments, you should consider leasing your next new car. Car leasing is often misunderstood and is confused with renting, which it is not.

It’s a fact that monthly lease payments are always lower by 30%-50% than loan payments for the same car, same term, same interest rate ( see Lease or Buy: Which is Better? ).

Car makers often have special limited-time lease deals which make leasing even better.

But there is an even better, lower cost way to lease that many people are not aware of.

It’s called a lease transfer, or lease takeover.

Let’s take a look at an example of how a lease takeover works.

You find someone who wants, or needs, to get out of their car lease early. You can take over, or assume, their car and lease for the remaining time on their contract. If they originally took out a 3 year lease and now want out after only 1 year, you can take over the lease for the remaining 2 years. You pay a small transfer fee to the lease company and the deal is done.

What’s the advantage of taking over someone’s car lease?

By taking over a car lease, you avoid all the up-front charges normally associated with leasing — no down payment. If the original lessee made a large down payment to reduce the size of his monthly payments, you get that benefit. In many cases, the person wanting out of his lease will even pay you a cash incentive to make the deal even sweeter.

How do you find people who want out of their leases?

A number of online companies specialize in listing cars that are available for lease transfers. They act like a “dating service” between people who have available leases, and people who would like to take over a lease. They charge a fee to the person wanting out of his lease. The company that is the biggest and best is Swapalease. Go to the web site and browse. You can search based on the type of car and the monthly payment you want.

Taking over a lease is a great way to drive an affordable late model car if you don’t have the money for a brand new car. Even if you do have the money, it’s one of the most cost effective ways to acquire a vehicle.


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