Has anyone used this service? If you are in to leasing, you basically take up someone else's payments at sometimes better rates (if they put alot of money down). You also don't have to pay all the cap cost that they paid upfront. Thinking about this for my next car. Anyone have any experience?

www.leasetrader.com

 

I have been check into swapalease and leasetrader form time to time, I must say so far? I have not seen one good deal, most of the times the payment they’ve listed does not include the sale’s tax and the monthly payments are generally higher than what you could negotiate on your own. Although sometime you would find someone willing to give you some money to take over their lease but it usually have high mileage already or the payment is very high to began with. Most of times they will have lease transfer fee of $395~595 or more and credit application fee of $50~75, unless you could find an seller who is desperate, you will have to paid those fees yourself. Once a while you might find an decent deal but the car is at other States or the mileage is so high that you could only drive 7~800 miles per months.

Now, if you are looking to buy an used car? It might be good alternative, look for an car’s residual value, if its lower than market condition? It would be a good idea to take it over and purchase it at end of the lease, but than again, most of the leasing company do not allow transfer in final year or so of the contract. Be careful and read the fine print!

 

u have to be careful on leasetrader and swapalease... if you sell your own car you're still liable in case the new leesee does not make payments.

 

Did a search for G35's - 2006 and Up, and found the following:

1. 2006 G35x - 1,100 miles per month, 36 months left, only 1,930 miles on the car - $384 per month tax included

2. 2006 G35 Coupe w/ Perf Pkg - 1,000 miles per month, 36 months, only 2,800 miles on car - $457 per month (not including taxes - about $35 extra)

3. 2006 G35 Coupe 6mt - 1,000 miles per month, 36 months, only 9,600 miles on car - $474 per month (not including taxes - about $40 extra)

Have other people been getting leases for under $500 per month for these cars with a REAL zero down payment (sign and drive - not a penny upfront)? An '06 g35x for $384 with no other money owed sounds extremely cheap. Infiniti Financial doesn't charge for lease transfers, so all you pay is a couple of hundred bucks for fees.

Am I missing something or are these good deals?

 

You got to me careful when you use leasetrader and make sure your lease agreement allows you to transfer

 

I got my G35 from swapalease. No regrets.

 

It can be useful with the right deal. Someone looking to get
out and will also give you extra doe as well

 

Could someone explained to me how this works? This is the first time I've bought a car, and I have never leased or had to make monthly payments before.

I'm going to use this white g35 as an example: http://www.leasetrader.com/auto/leas...pe_96901.xhtml

So the lease payment is $620/month with 33 months left. So does that mean after 33 months you own the car?

$620/month*33 months=$20460 --So could I just pay $20,460 up front and own the car? I'm sure it doesn't work like that because it would be too good to be true.

Also it says "Lease end buy out: $15,520.00"
So what does that mean?

I admit I'm ignorant towards this stuff but I guess we all have to learn sometime.

 

lol, okay I figured out how it works. After you make all the payments you don't even own the car. I guess this is what they mean when they say "the poor get poorer and the rich get richer." Looks like a rip off to me. If you don't have the money, then why are you buying a really nice car? That's just my mentality, but obviously it's not shared considering the amount of debt people get into.

 

Um, thats just leasing vs financing. Leasing means you are paying to cover the depreciation on the car. Ideally when the lease is up, the buy out is the actual used value of the car (since you stayed with the depreciation)

What you want to look for on those sites is somebody who put a large downpayment, but needs to get out of the lease....that way you can inherit a lower monthly payment and lower buy out

Or, go with financing and get a used G. Best way to go imho

 

Leasing is not just for people who don't have money to buy cars. I've always bought, but found myself getting a new car every 3 years or so. I was taking a big hit on re-selling my cars (even ones with good resale values). I put together a spreadsheet to compare what leasing would actually cost me - considering that when leasing, my money stays in the bank earning interest and many car manufacturers are offering leases with low money factors (interest). You also pay that lease interest on only the portion of depreciation, not the entire value of the car. The residuals are set in stone from the manufacturer - opposed to hoping someone will buy your car from you 3 years down the road for what you think it is worth. If you plan on keeping cars for a long time, then leasing is not for you. If you like to get the latest and greatest often, then leasing is a viable option.