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partytime
06-05-2007, 07:08 PM
Has anyone ever heard of a short term lease? 1-2 months? I had never heard of such a thing before today but my neighbor said he did it 2 years back. He leased a Toyota Tacoma in Oregon. I'm going to be without wheels at the end of the week until I figure out what I am going to order I may be forced to rent a car for a month. :jawdrop: :jawdrop:

blown65
06-05-2007, 07:26 PM
Never used this but I've heard of a few ppl using it.
Buy out a lease with a few to several months left. Just be careful of mileage left on the lease, does no good if you cant hardly drive it.
http://www.swapalease.com

blown65
06-05-2007, 07:33 PM
Isn't the original purchaser still liable for the mileage? I didn't think you could ever truly get out of a lease, if with those swap deals.
I'm not sure, I would think the person taking over the lease assumes that.
This is off their FAQ section.
Who is responsible for potential lease-end charges?
The Lease Buyer would be responsible for any termination charges at lease end. The Lease Buyer is assuming the remainder of an in-process lease, and will be responsible for the lease-end terms as included in the original lease contract. Lease-end charges may include disposition fees, excess mileage fees and excess wear & tear assessments. All potential lease-end charges will be outlined in the original lease document.

blown65
06-05-2007, 07:39 PM
OK, that is maybe my confusion. I looked into this a while back, but Bank of the West didn't allow anybody to assume your lease, so I could have done the swap, but I would have been on the hook for the remainder of the lease. It ended up not being a good deal for me because I couldn't fully get out of it.
Its funny though, you call your lease company and they say no, but some how these ppl get to do it. My Caddy I could of done the lease trade with them, but if I tried and do it privately they said no way. Maybe they were feeding me BS but I guess there is always a way to do things. :)

INSman
06-05-2007, 07:52 PM
check out swapalease.com if they still exist. Interesting deal if the lender would agree and you could avoid any liability on the selling side.

partytime
06-06-2007, 04:16 AM
Never used this but I've heard of a few ppl using it.
Buy out a lease with a few to several months left. Just be careful of mileage left on the lease, does no good if you cant hardly drive it.
http://www.swapalease.com
Thanks for the link. I'll be making some inquiries soon.

HOOTER SLED-
06-06-2007, 04:27 AM
Just buy a little hoopty for cheap and then turn around and resale it. :)

partytime
06-06-2007, 08:29 AM
Well that was the thought at first. That is until my neighbor told me about a short term lease. I didn't want to invest in a $1500-3000 POS for a month or two and try to sell it later. Only because of the headaches it'll probably produce trying to sell it later. I'm not ruling it out entirely though. There are some decent deals on the site Blown65 mentioned.

partytime
06-06-2007, 08:30 AM
Just buy a little hoopty for cheap and then turn around and resale it. :)
Oh yeah, did you have a cheap hoopty in mind?

Ziggy
06-06-2007, 08:34 AM
Normally if a lease is reassigned the new leasee has to qualify with the leasor.
.

dmontzsta
06-06-2007, 08:37 AM
3 year lease is perfect IMO. You only have 36k when it is up. Plus usually there are upgrades within 3 years.

partytime
06-06-2007, 09:28 AM
Normally if a lease is reassigned the new leasee has to qualify with the leasor.
.
I figured that too but it shouldn't be a problem for me...

CarBizIndio
06-06-2007, 01:54 PM
I charge $600 a month for a rental including tax,insurance,unlimited miles. I'm located in the coachella valley. I have heard of people finding cheep deals on hotwire.com for rentals. If you don't mind what your driving you can pry find a car for under $1000 on the autotrader and maybe sell it for a few hundred dollars less if its still running after a few months.

blown65
06-06-2007, 05:21 PM
Well that was the thought at first. That is until my neighbor told me about a short term lease. I didn't want to invest in a $1500-3000 POS for a month or two and try to sell it later. Only because of the headaches it'll probably produce trying to sell it later. I'm not ruling it out entirely though. There are some decent deals on the site Blown65 mentioned.
Once in a while there are some really good deals. H2 was on there the other day, guy must of put a big down on it but the payments were only 350 or so a month for only 5 more months. Those ones usually get hit fast and are in pending.

JB in so cal
06-06-2007, 05:32 PM
Go to your friendly neighborhood (not airport) rental company - any one will do, but I have my favorites. Get to the manager and tell him that right now, today, you'll take a car off his lot for a couple/few months but you're only willing to pay "$" per month. Start at $500 and see what he/she says.
There is a value to him/her to get a car that he's paying for on rent for a few months.
I would imagine you could very easily get OTD for less than $750/month for wheels - zero down, free miles. Just call your insurance agent and run it by him.
Just don't reach under the seats:) :jawdrop: :D

2ndIINoneMotorsports.com
06-09-2007, 01:17 PM
i have a few "hoop-tees" for sale...Email me at js2ndiinone@aol.com and I'll give you a deal you cant refuse haha

blown65
06-10-2007, 08:55 AM
3 year lease is perfect IMO. You only have 36k when it is up. Plus usually there are upgrades within 3 years.
thats great unless your the type the gets bored with a vehicle every yr or two. :) Kinda like DCB owners that have theirs up forsale before taking delivery. lol