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08-05-2010, 11:07 PM
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#1 | | Even when im right, revscene.net is still right!
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| Taking Over A Lease?
Has anyone taken over a car lease before? I've been searching various places, including LeaseBusters, and there seems to be some good deals to be had. Just interested in hearing others' experiences/thoughts.
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08-05-2010, 11:09 PM
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#2 | | Rs has made me the woman i am today!
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examples of good deals? It is pretty hard to find a lease with a good buyout. It might seem like a reasonable buyout 5 years before the day actually comes, but you'd be lucky to have a buyout near actual retail value.
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08-05-2010, 11:11 PM
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#3 | | WOAH! i think Vtec just kicked in!
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I have used Craigs for the same purpose in the past, both for offering lease transfer and taking somone's lease.
Just make sure you understand the contract terms and your responsibilites upon lease end.
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08-05-2010, 11:15 PM
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#4 | | Even when im right, revscene.net is still right!
Join Date: Feb 2004 Location: Victoria
Posts: 1,311
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| Quote:
Originally Posted by Jgresch  examples of good deals? It is pretty hard to find a lease with a good buyout. It might seem like a reasonable buyout 5 years before the day actually comes, but you'd be lucky to have a buyout near actual retail value. | This is the one I was looking at with the most interest: http://leasebusters.com/en/details.asp?ID=99656
I'd have to sell my car first, so I'm obviously not going to go for this exact one, but it's an example of what's available.
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08-05-2010, 11:29 PM
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#5 | | Rs has made me the woman i am today!
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^ that is not a crazy good deal.
$44,000 for a car worth around 40?
edit: I'm assuming you want to buy it out? otherwise you could lease a 2010 for 2 years for the same price.
On top of the 25,309 buyout, you will most likely pay tax, as well as re-finance it... making it even more money.
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08-06-2010, 03:41 AM
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#6 | | OMGWTFBBQ is a common word I say everyday
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^ if he just leases it for the remainder, then he saved on the down payment. but
judging by the monthly payment the downpayment wasn't that substantial.
edit:
lol dont do it
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08-06-2010, 07:59 AM
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#7 | | Rs has made me the woman i am today!
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it really depends if you want to keep the car at the end of the lease, if you dont, there are many good deals out there, but if you do, its harder to find a good buyout tag along with a low interest rate over all during the lease
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08-06-2010, 04:24 PM
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#8 | | Even when im right, revscene.net is still right!
Join Date: Feb 2004 Location: Victoria
Posts: 1,311
Thanked 707 Times in 140 Posts
| Quote:
Originally Posted by Jgresch ^ that is not a crazy good deal.
$44,000 for a car worth around 40?
edit: I'm assuming you want to buy it out? otherwise you could lease a 2010 for 2 years for the same price.
On top of the 25,309 buyout, you will most likely pay tax, as well as re-finance it... making it even more money. | I never said it was a "crazy good deal"... just pointing it out as an example of the prices for lease takeovers.
And no, I do not plan on buying out the car after the lease. You cannot get a 2010 for anywhere near that price (~$795/mo after tax with $0 down) and don't forget the owner is offering $2400 cash incentive. Quote:
Originally Posted by TRD Rs200 it really depends if you want to keep the car at the end of the lease, if you dont, there are many good deals out there, but if you do, its harder to find a good buyout tag along with a low interest rate over all during the lease | Interesting. Not planning on buying out though, just want a nice car under warranty without committing myself to purchasing a vehicle.
I am self-employed so I can also write off a small portion of my car costs (20%?) as a before-tax expense.
Anyway, thanks all for the responses, still looking for more input.
Last edited by Amaru; 08-06-2010 at 04:31 PM.
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