I have an 07 Blk, manual G35 coupe I just leased 3 months ago. It has 2,800 miles on it. I got it for invoice ($34000) and paid for the spoiler add on. I put $4000 down and am paying $415 a month after tax on a 39 month lease w/15000 miles a year. I am looking for someone to buy the car out prefferably ($31000) or assume the lease. I feel I got a good deal on the car and because I put down so much, I would like to try to recover some money back. I have a baby on the way and I don't think I will be able to afford this anymore because of that. I'm in socal. I checked into leasetrader.com and I read that if someone else assumes the lease I am still held liable at the end of the lease term? I don't think it's a good idea to let someone assume the lease, but maybe. Anyone interested? Make me an offer. The car, of course, is mint and was broke in properly. Comments/opinions always welcomed.

Thanks

 

Let’s see you have paid about $5500 for the use of a car for 3 months. I would say you are going to take a much bigger loss by selling the lease as opposed to keeping it. If you let someone else assume your IFS lease then you are still liable. Also since you put $4000 down on it, if you just let someone take over the lease you are essentially giving them your $4000! You have just pre-paid $4000 worth of THEIR payments! Most people don’t think about their down payment when they sell a lease.

My suggestion: Because you put a substantial amount of money down on a lease you are probably going to be stuck with the car for 39 months or you will loose a ton of money. Down payments on leases are never a good idea in my opinion.

 

unfortunately I learned not to put down such a large down payment on a lease too late. I just figured if I could get rid of the car w/out paying any more money I would just take the hit. I don't like the idea of being liable on the lease if someone assumes it though.

 

Because the lease was signed by you... and hence you will be liable for it even though someone else assumes it... then it will be the both of you on the lease.

bottomline (you like it or not) you will take a hif if you want to alter the lease in any way... even if it is to buy it out.

your best options I believe are (but not limited to):

1. List the buyout price on autotrader... if lucky someone will just pay that much to buy it out .. that why they just pay your leasing company and buy the car outright... or you can price it and take the minimalist hit.

2. Lease it to someone else... while remaining on the lease. Using leasetrader... they verify the other parties credit history, etc... so atleast there is some form of credit history validation of that person to assure you in some sense. But you tend to lose the down payment you put.

3. Ride out the lease, work out your finances .... if you can.

4. Go back to dealer and see if you can get yourself into an 2007 M... they were selling the M's for real cheap... and it has fantastic lease deals... ofcourse you will take a hit ... but with the same dealer ... they might be able to work something out... its just another option if you wish to choose.

Good luck bro... i know how crazy it can be ... I have a baby on the way as well... I so want to get the new 08 c350 benz.... lets see if any deals come out over the winter.

 

Just sell the baby.

J/k, wish I knew what to tell you man but from what I understand of leasing, it seems like you're in an unfortunate situation.

Congrats on the baby and good luck with everything.

 

Thanks. I'm gonna try to sell it first. I have plenty of time. I'll check out the M deal too. That's a good idea if they give me a 1 year lease. It's better than the 39 month I chose.