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Get A Cheap Lease on a Car – Or Get Out of Your Lease

13 August 2006

I just came across what looks like a great idea to get cheap leases on cars. Now, this isn’t the best way to save money on cars. The cheapest way to own a car is to buy used and keep the thing for ten years. But let’s face it – some people reading this web site don’t want to be as frugal as others. So here’s a way to save money and get a MUCH cheaper lease: assume someone else’s lease.

It turns out there are lots of people who want to get out of car leases – they find a new car they want, and they decide they are dead set on getting that one. As always, if someone wants something, the Internet is going to find a way to provide it. And with sites like http://www.swapalease.com, you have a new way to get a lot more car for your money. Why?

Well, people who want out of a lease generally don’t expect you to pay the full amount. They know you’re going to want a discount – otherwise why not just go lease a brand new car on your own? So for many of these cars, often only a year or so into the lease, you can get very expensive cars and the person who signed the lease originally will give you a big chunk of cash to compensate you for the extra payments.

For example, this lease is for a brand new 2006 Mercedes C-Class. The buyer will pay you $4,500 to take on the lease – making your actual payment $425.64 a month versus the $554.21 he originally signed the lease for.

Some of the buyers don’t provide incentives, and they frankly aren’t worth your time (why pay full price when you can lease a new vehicle instead?).

Another good site is http://www.leasetrader.com/, although it has a lot of sponser ads from lease companies that pop up before the real people trying to get out of their leases.

They’re also great if you happen to be someone who has an expensive auto lease and is looking to get out of it in favor of something less expensive. Put a little bit of money in as an incentive to sweeten the deal, and you can downsize and cut down on your monthly costs.

Discuss this on the Free the Drones Forums here.

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    2 Responses to “Get A Cheap Lease on a Car – Or Get Out of Your Lease”

  1. Financial Rounds Says:

    This Week’s Carnival of The Capitalists…

    This week’s COTC is up at Forty Media. There were only two that struck my fancy this time around (by Free the Drones Free Money Finance):…

  2. Jason Says:

    There’s also http://www.easyrelease.com for drivers to get out of a lease early and for others to take over a car lease transfer. It’s a totally free service, free to list and free to contact the sellers.

    http://www.easyrelease.com