Any experience with lease trading?

***DaveN007*** · #1 (**permalink**) 05-21-2008, 08:32 PM

There are places on the web where you can "pick up the lease payments" on a car. They charge an assortment of transfer fees for the transaction. No cap reduction "down payment". Just a monthly payment.

Any experience?

You can get a car at any point in it's lease lifetime. New. Under factory warranty. Even if it is for six months. I found an 06 Jeep with 3 months/9000 miles left on a 24 month lease for $365/month.

Not a bad "rental" for 3 months if you want to drive the heck out of it.

You could "get a new car" every six months. You could have a truck or SUV during the season you need one.

Any thoughts?

ps No. I am not replacing the Cayman...:-)

**mtbscott** · #2 (**permalink**) 05-21-2008, 08:45 PM

Never done it, but taking over someone else's lease sounds like it could be a good deal, especially for a short term. Leases usually have a high buyout so most people looking to swap are desperate to get out from under them, many even offer the buyer cash incentives to take their car. Lemme know what you find.

***peter f cummiskey*** · #3 (**permalink**) 05-21-2008, 09:29 PM

I traded my BMW 335xi lease to one of my employees. There was approx $ 735.00 of fees; $ 400.00 for me, $ 335.00 for him. All my liability disappeared.. BMW holds the right to charge sales tax (again) in selected states...But not in my deal in N.Y.

**Oshkey** · #4 (**permalink**) 05-21-2008, 09:46 PM

i thought about doing this and yea, about 1k for 3 months isn't bad and is cheaper than a rental car for a month from enterprise or something.

**suneet** · #5 (**permalink**) 05-21-2008, 10:11 PM

I have experienced it the 'other way around.' My brother had a 2006 Mercedes CLK350 that he got at Employee Plan because I worked at a Mercedes dealership at the time and we put it up on leasetrader.com because he was moving to Japan and it got picked up in under a week. Since then I turned a lot of my car dealership friends on to it since they all leased and they are using it with lots of success. Because employee lease prices are so low, they get picked up very fast.