Has anyone done a lease with the purpose of flipping it?
Let’s say you get a 36 month deal for $400/mo with $0 DAS while the rubes are typically getting it for $600/mo. Take the the lease and put on LeaseTrader asking for $3000 down. It’s still a great deal for someone with $3K down. You make $3K profit.
Horrible idea. Don’t do it. Just for safety, please direct me to this specific car and I will make sure no one gets tied up in this type of messy behavior.
If I were to do something like this, I’d drive the car home, park it in my garage and flip. So the probability is pretty small. But yes, you’re right it’s a risk.
Heh, I didn’t in the end. Got her an Audi instead. She’s slumming it.
I’m not sure how I’d “risk it all”. Sure there’s risk in everything. Any investment or business opportunity comes with some risk. Worst case scenario with my theoretical plan is I’m stuck with a car for 3 years. Not the worst thing in the world.
lol, take a look at the archives, quite a few mortgage payments were made doing this post Covid when the markets were out of alignment. Today the used car market is a lot more normal so flips via leases are a lot harder to find. A lot of former potential flips like 4xes are heavily underwater now. And only a few leasing companies allow transfers or 3rd party sales.
On the Wrangler 4Xe forum a few years back, a guy got rear ended in his 4Xe (I think it was a Yellow One) Wrangler on his way home from the dealership on his way to flip it. Fortunately for him, the market was in his favor and he still came out ahead. Today, that’s not the case. The flip market is long dead for Wranglers.