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Car lease assumption/swap? A good thing or fishy?

Posted by jenswrens (My Page) on
Tue, May 30, 06 at 19:36

So with gas prices skyrocketing, we're in the market for a car rather than drive our SUVs and the pick-up, but we don't really want to be locked into a payment for 3 or 4 years.

DH found out about something called assume-a-lease or swap-a-lease. It's where someone wants out of their auto lease early and you take it over for the remainder of the term. We've never leased a car at all -- we've always bought -- so I'm a little wary of car leasing to begin with. This sounds like a good deal on the surface, but is it too good to be true? The person who assumes the lease is responsible for turning it in at the end. So are these people just trying to get out of paying those end-of-lease fees that I've always heard about? Or is this really legit?

Has anyone done this or do you know anyone who has? Is it a scam? A good deal? WWYD?

Here is a link that might be useful: Trade a Lease

Follow-Up Postings:

RE: Car lease assumption/swap? A good thing or fishy?

I'd rather buy a good used car after it has been turned in after the lease. You don't want the headaches of a deal like this, IMHO. All the headaches of a lease without the joy of driving a new car for a short time.

RE: Car lease assumption/swap? A good thing or fishy?

Thanks fairegold! After asking some other people, they too thought this was probably not a good idea.

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