Regardless of what dealer or leasing company you go through there is a cost to leasing a new vehicle. You have to pay a down payment, taxes, finance fees and the list goes on. Even after all of those fees you’ll be locked into a lease that is usually at least 24 months if not more.
However there are ways of leasing a vehicle for a short term, with no down payment or hefty up front fees.
You can take over someone else’s lease!
That’s right, there are people all over the country that are stuck in a lease that they can no longer afford or want to get out of. These people want to get rid of the monthly payments that are holding them down, and they can do so by signing over their lease to you!
You might have seen lease takeovers in the classifieds or on websites like craigslist.org, but there are a few great websites that can connect you with a large list of lease owners who would like to get out of their lease.
One such site is called LeaseTrader.com.
Lease Trader handles all of the hard parts of finding a lease to takeover. You can browse vehicles by make, model or category and find the right fit.
So how do you get started finding a lease?
It’s pretty easy actually:
- Go to LeaseTrader.com
- Register for a free account
- Sign up for their buyers program
- Find a vehicle you’re interested in
- Contact the seller
- Transfer the lease
But there’s gotta be a cost to all of this right?
There are a few costs that you need to be aware of when going into this process.
First up, you’ll need to pay LeaseTrader.com a nominal fee to join their “buyers program”. Compared to other lease trading sites out there, LeaseTrader.com doesn’t charge much (under 50 bucks). Next, you’ll need to pay a fee for the transfer of the lease. This is a one time $150 payment that gets all of the paperwork moving. Then you have your normal registration fee with the DMV and any bank transfer fees that are applicable… That’s it!
So for about $250-$400 you can get setup with an almost new car, no downpayment, and a limited term lease.
To find out more or to sign up with Lease Trader, Click Here.