Ways other than swapalease.com to assume a car lease?
January 19, 2010 11:18 AM

If you can't find possibilities on swapalease.com or leasetrader, are there other ways to assume someone's car lease? Contacting leasing companies directly?

I've checked swapalease.com, leasetrader.com, leasetrade.com and craigslist but I can't find enough options in my area. Is it possible to find car leases to assume by another means?

Can I contact leasing companies to see if there are leases I can assume? Looking to assume a lease because I need a short term (36 months or less) lease, and I don't have money for a down payment.

With the current state of the economy, I imagine a lot of people can't pay their leases and are having those cars repossessed. What does the leasing company do with those cars?

Thanks!
posted by wannaknow to Work & Money (1 answer total) 1 user marked this as a favorite
"... What does the leasing company do with those cars? ..."

In the U.S., at present, the leasing company, noticing the utter dearth of used car trade-ins in the last year of collapsed new car marketing, calculates a bigger than ever used vehicle valuation for the formerly leased vehicle, and happily presents the repo to a dealer network starved for late model, low mileage vehicles.

Pre-mature lease repos are all that is keeping some elements of the U.S. auto finance industry above water in these trying times. Have you tried to buy a 2 year old, low mileage vehicle off lease in the last 6 months?

Ain't happening, period. Not just "Ain't happening, like it used to."
posted by paulsc at 6:53 PM on February 19, 2010


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