scj760

Has anyone here had any experience with putting their car up for lease takeover mid-lease? I've had my 2010 G37 in San Diego, CA for about 7 months and have 7k miles on it and found a car that I wanted to purchase in cash in the past month. I need to get out of this car, as I don't want to be paying for a car I'm not using. If anyone has any tips, specific companies to use, or is even interested in taking over the car, shoot me a PM or post here. Thanks!

Hapa DC5

iTrader: (1)

leasetrader.com

ScottyBeGood

We do lease takeovers all the time. But normally this is done when exchanging a lease for a new car. I'm not sure if you are going to have as good of luck, just to get out of your car without having to buy a new vehicle. You may want to find out what the payoff is and sell the car in the consumer market. Good luck.

CSIERRA

LEASETRADER.COM
SWAPALEASE.COM
LEASETRADE.COM

IVE OBTAINED 4 CARS THIS WAY many people love to do this

Beer Magazine

Dealers don't do lease take overs, they buy the car.

ScottyBeGood

I should have been more specific, we buy people out of their leases. We don't just takeover payments, but buy the cars from the financial institutions that are financing the leases. Thanks for pointing out that mistake.

volnedan

I've used swapalease.com on my previous 08 G37S coupe, and it went pretty smooth. However my car was leased through US Bank, not IFS. The bad thing was it cost me $595 to transfer the lease to the new owner, but the good thing is my name was completely removed from all liability for that vehicle.

IFS lease transfer still has the original owner somewhat liable for the vehicle. But I haven't heard of any stories of where that deal hurt the original owner. Unless of course that vehicle is used during a bank heist and ensuing police chase...

BryanwSD

From what I've read, IFS does not remove the original leasee's liability, so if you "sell" your lease to someone else, you're credit is still at risk if they don't make payments. Transferring a lease under these terms is not a good idea.

It would be better to sell the car privately or to a dealer, and pay cash to make up any negative equity.

RIDEwithG

If you got a good deal on your lease, using Swapalease/Leasetrader should get you very good results. If you got a crap deal, you probably have a hard time finding a taker. In a case like that, you may be better off trying to sell the car and see if you can break even.

scj760

Update: I went with leasetrader.com and have had pretty poor results with them thus far. They hounded me on the phone almost every day with a message or an email, and when I finally signed up for their best package, they included all kinds of automatically renewable fees. They said they found prospective buyers who were interested, but that it was my job to close them. Have not been happy with their customer service, or lack thereof.