Taking over a Lease in Alberta - Calgarypuck Forums - The Unofficial Calgary Flames Fan Community

Jets4Life · 09-13-2011, 05:29 PM

I want to takeover a car lease in Alberta. I have tried a couple of websites, with not much luck. I have never leased a car, so I am heading into uncharted waters. If anyone can give me some advice, and the steps it takes to lease a car or takeover a lease, I would greatly appreciate it.

Thanks.

pylon · 09-13-2011, 05:32 PM

leasebusters.com

Lease take overs require normal credit qualification as if you were buying it outright. I would however advise against it at this time in the year, as this is the best time to snag an awesome deal on a new lease.

Jets4Life · 09-13-2011, 05:45 PM

I am looking for a fuel efficient car around the $350/month and under price range. If anyone has any suggestions where to look, I would love to hear about it, as I may need a car for my new job.

pylon · 09-13-2011, 05:47 PM

Quote:

Originally Posted by Jets4Life

I am looking for a fuel efficient car around the $350/month and under price range. If anyone has any suggestions where to look, I would love to hear about it, as I may need a car for my new job.

pm sent

ken0042 · 09-13-2011, 07:10 PM

Quote:

Originally Posted by pylon

Lease take overs require normal credit qualification as if you were buying it outright.

Because of this, the only advantage to taking over somebody else's lease is if they are giving you a screaming deal. I see so many ads where the person says they put $2000 down on a 48 month lease, and they are 20-30 months into the lease. They want you to do a takeover, and make it sound great that it is $0 down!

Make sure you look at the Blue Book value, and what the buy back value is on the lease. Subtract the two, and that number should be close to the total of the monthly payments remaining. So let's say the BB value is $15K, the buy back value is $10K, and there is 20 months left at $350 per month. That means you are paying $7000 for $5000 worth of car.

Of course that is a bit of an over simplification, but you get the idea.

MrMastodonFarm · 09-13-2011, 07:18 PM

Quote:

Originally Posted by pylon

leasebusters.com

Lease take overs require normal credit qualification as if you were buying it outright. I would however advise against it at this time in the year, as this is the best time to snag an awesome deal on a new lease.

Now that ladies and gentlemen, is a good salesmen.