Car Lease Depot: Auto Lease Assumptions, Transfers & More

What to do when you see an “Assume my car lease” ad?

We see it all the time on craigslist.org and other free classified websites.  “Assume my car lease” is probably one of the most popular keyword titles for ads when someone is stuck in a car lease.  It is enough? Probably not.  In order for someone to really take action when reading an ad titled assume my car lease your car has to be a great deal.  Many people who are unfamiliar to the lease swap process often ask “why would anyone want to assume my car lease?”.  There is without a doubt some nurturing which needs to occur before any lease transfer talks can begin.  First you need to be able to explain the benefits of taking over a lease. Here are a few.

1. Short term commitment - Are you a travelling business woman? Well how ideal would it be to go to a dealership and say “yup I’ll take that new bmw 328i lease for 6 months”?  It doesn’t happen. The fact of the matter is that a short term lease is a deal in itself.  Most people don’t even know where they will be in a year from now.  Look at the recent recession and car companies taking nose dives, I won’t say anymore about that as I want to keep this blog post somewhat on a positive note.
2. Get a lease takeover Deal - People offer you money for taking over their lease. Why? Well they are stuck in a car lease and need to get out.  You are their saviour. You are also in a position of power to negotiate a deal.  Ask them for a fair cash incentive.  We have seen cash incentives well over $10,000 USD to take over a single lease.  Yes it was for a corvette lease, but still 10k is a pretty sweet deal.
3. Get a monthly rate which is no longer available.  Imagine you could go back in time.  There were some great cheap lease deals a year ago.  Imagine if you go to the dealer and they want $645 for a Subaru outback lease but that same lease could be $150 less from someone who is posting a “Assume my car lease” ad.
4. No Down Payment. You takeover someone’s lease, normally you benefit from not having to put a down payment for the car.  Quite often people will even give you their security deposit which you can redeem after the lease has expired and you have returned the car.
5. Make someone happy.

This was just me rambling on about how great it is to reply to people who post a “assume my car lease” ad. Don’t take my word for it.  Go reply to some ads now and start wheeling and dealing…or vice versa.

The CarLeaseDepot.com Team.