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Lease trader - why?

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Old Jan 23, 2004 | 11:37 AM
  #1  
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From: Madison
Default Lease trader - why?

I was curious about lease trader. There are lots of S2000 cars on there.

I can see why someone might need to get out of a lease this way, but why would anyone take on such a lease, especially a short term lease? I guess if you just wanted an extra car for the summer or were waiting for the car you're ordered to come out. It saves you the down payment, but costs you to join the service and process the car, and then in 6 months (average example) you have to find a new car. Buying the car after the lease is usually more than just buying a used example. There might be rare situations when it would work out better than buying used, like when someone put down a big downpayment and the residual is low. But in most cases you could have a new s2000 with warranty of 3 years for the same payment.
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Old Jan 23, 2004 | 12:03 PM
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If you can find somebody that made a large downpayment on a lease (which is a big mistake), you can assume their low lease payments without making that downpayment. You can profit from their error. That is unusual, and most of what you see on there is average to worse-than-average leases that people just need to get out of. Nothing wrong with an average lease that you can assume with $0 out of pocket and have a very short term lease.
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Old Jan 23, 2004 | 01:26 PM
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From: NoVa
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there are tons of reasons to use a service such as swapalease. avoiding sales tax and lease inception fees is a good one. leases with big unused miles is another. leases with short durations is yet another. it clearly fills a need, or else they wouldn't exist.
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