I appreciate the help, guys. I’m open to suggestions. My wife goes back to work from maternity leave soon, so I need to make this happen. With daycare and everything, we need 2 cars although we used to survive with one.
swapalease google it
Seems like there’s a lot of risk. What if the original lessee messed something up?
Taking over a lease does sound risky, at lease return time you are liable for everything that may be wrong with the car, you may end up having to put new tires on it, fix various things, pay the lease termination fee, etc.
It’s probably doable and I’m sure many people do it, but it requires extra care.
@wheelz, that’s the stuff I’m afraid of
Maybe my list helps you (or confuses you even more …). Also coming off a BMW lease and not sure what to get next.
Bud just find local area deals on swapalease as well. Might find a good IS deal.
Can you please talk a bit about the dangers of swapalease or point to some resources? Can you end up with a car that was in an accident and fixed and then you cannot return at the lease end?
Yeah, do we know anyone who’s had good or bad experience with swapalease? Sounds like an add level of complexity.
Ok i leased one last year from my sister. Guy was local and deal was too good to pass by. I personally met him after a half hr drive inspected the car myself and was in immaculate condition with new car smell (5500 miles). Since its a lease, everyone carries insurance so even if it did have an accident, I would ask if repairs were done at proper body shop and check paperwork. I know several people who have gotten cars from swapalease and havent heard of issues but yes, it will be good if you check thoroughly
I’ve had great experiences with SAL. Ask me anything and i’ll try to help.
i’ve done both, assumed a lease and swapped out of a lease. If you have a great lease, people are willing to take it over so it’s a great way to get out and into something new sooner. As far as assuming leases, there are many cars where the person who is currently leasing the car wants to get out at all costs and is willing to take a big hit, pay for transfer fee etc. This is especially true on higher priced cars where people aren’t so price sensitive and are willing to forget about the $2500 incentive they paid and on top pay you $3k to take over a lease just so they can get out. Everything is up for negotiations. There are gems to be had but you gotta find them. There are some things to look out for but once you know how to do it its a great way. I’m a big fan of the BMW lease assumption process, i’ve detailed my experience on this forum many times, you can search of it.
@305Hackr, that makes sense. Seems like you need the luxury of time to really do it right, though. I need a car in 2 weeks. I also considered simply buying a beater and driving that into the ground.
I’ve done a lease assumption with BMW in 5 business days. They’re the fastest. Def doable in 2 weeks if you find the right car.
@305Hackr, why is it easier with BMW than other makes? Because their finance dept is simpler to work with?
they’re on top of things and almost every step is done electronically except the final step. Toyota/Lexus is exact opposite. Takes over 1 month, no updates etc.
I needed a car for my sister urgently as her car got stolen so instead of getting a brand new lease again, i just came across a deal on a IS200t. She is paying effectively $204 for 22 months with 950 miles per month which is more than what she needs. Before the lexus, she was paying 240 bucks for a Camry. Paperwork with lexua was all done via overnight fedex and took 2 weeks and 2 days.
Keep in mind, acura, Honda, Hyundai, kia and some other brands do not allow lease transfer. So be careful what your looking at on swap alease.
@mani_is_kool you got lucky, my friend waited 6 weeks trying to lease swap into an IS and it was so painfully slow he gave up on it after over a month of waiting.
BMW’s process is three steps, step 1 and 2 are electronically done and the third step only requires a final signature so if you pay the $25 for overnight Fedex you can get it done in less than a week with BMW from start to finish.