DdotRoq

Hello All,

I'm thinking of trading my 3 month old G37 for a...

G37. I'll be going to practically the same thing, but it would be purchase over a lease. This is a PROBABLY, assuming the dealer doesnt screw me on my trade-in which is a G37 with 6k miles.

Unless anyone here on the board would like to assume an IP G37 for $525 with all options?

Any opinions?

CHI-TOWN G37

I don't know how you guys can get out of leases without paying the full lease obligation. More power to ya if you can

Blackjack

iTrader: (3)

I've considered doing the same Ddot. Luckily I'm financing so it is a bit easier for me, but I think I'm stickin with it for a few years until it is paid off (only 2 more years left) then upgrading.

ChOy BoY

iTrader: (2)

the dealer WILL screw u on a trade in lol you'll see

Keng

You gonna take huge loss on that...

DdotRoq

or I could just go with Swapalease...

rossab

iTrader: (6)

I'm curious as to why you would need to trade in to purchase... just get a loan to pay off the lease plus residual... are you wanting 6mt or something?

DdotRoq

Considering it.

DrJones

iTrader: (1)

Solution = Gap Insurance

rossab

iTrader: (6)

fixed*

DdotRoq

an insurance executive committing insurance fraud won't look too good in my field.

CHI-TOWN G37

Any idea what the default rate is on these swapaleasearama programs? You hand over your brand new car to some ***** who pays 3 months and then quits. Then there goes your good credit and prolly the car. If people are continuing to default on their homes, I can't imagine that these leasetrader deals are not fraught with defaults.

DdotRoq

How will that affect your credit? This is what Swapalease.com shows on their FAQ's:

Once the Buyer's credit has been approved and you have agreed to make a transfer, Swapalease will guide you through the process with your leasing company.
Swapalease guides you through the entire lease transfer process. You simply provide the information, sign the documents and pay applicable leasing company fees**, and turn over the vehicle.

Upon signing off on the paperwork and handing over the keys to your vehicle, the process is complete!

rossab

iTrader: (6)

with the swapalease program, they don't actually assume your lease. They have to be approved for a new lease under the same terms. Some leasing companies will do it, some wont. You'd have to check with IFS.

Callaway

yup, there are cases where the original lease holder can be held liable for the default. you have to careful and read all the paperwork.