Automotive

I Laugh At People Trying To Get OUT Of Leases

  • Last Updated:
  • Dec 10th, 2018 1:12 am
[OP]
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Dec 15, 2017
678 posts
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Toronto

I Laugh At People Trying To Get OUT Of Leases

I always thought that people that wanted to give up car lease payments were doing it because they felt under pressure and were desperate but that's not the case. I just contacted this place where you can take over leases from people that want to get rid of them. Guess what? They want to make a profit out of you.

This guy wants to get out of a $450/month lease for an Infinity sedan. But he wants me to give him cash up front (about $9k) that he has given the lender over the years and for me to keep paying the rest of the lease. * LOL.

I thought the way this worked was that you just kept paying the lease after taking it over, and nothing more.
Last edited by MrDisco on Dec 8th, 2018 6:39 pm, edited 1 time in total.
Reason: Rude
53 replies
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Aug 10, 2013
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This is backwards (unless a large DP was placed on the vehicle which would be silly).
Usually the Lessee would provide an incentive for someone to pick up the lease usually a few months lease payments covered + lease transfer fee.
Smash that like button!
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Jul 22, 2004
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It's a balance of incentives. Really boils down to how good a deal they got in the first place.

If they got a $x000 discount and paid $y000 down, thats basically your incentive.

Sometimes they don't want to give you that much to get out of the lease, they might want some of the downpayment back. You're still saving whatever they negotiated + part of their downpayment on a car.

Your caveats are that the car isn't new, but you save some $$ and term. Their caveats is losing part of a down payment and their effort and time negotiating. Sometimes they might even give you a cash incentive to get out ASAP. keep in mind there are still fees to transfer a lease and that can be significant.

They just want to get out paying $x00 per month * however many months left.


This is also why a lot of employees do this to MAKE money however. Employees might get a $40k car leased for $35k. They transfer over the lease at $35k and ask for $2500 of their down payment/discount. They profit $2500 and you get an automatic $2500 discount off sticker price. I'm dumbing it down a lot of course but that's the gist of it.
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Jul 30, 2007
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^ exactly. That's why you always ask to see the details on their agreement first.
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MusicBox wrote:
Dec 5th, 2018 1:57 pm
I always thought that people that wanted to give up car lease payments were doing it because they felt under pressure and were desperate but that's not the case. I just contacted this place where you can take over leases from people that want to get rid of them. Guess what? They want to make a profit out of you.

This guy wants to get out of a $450/month lease for an Infinity sedan. But he wants me to give him cash up front (about $9k) that he has given the lender over the years and for me to keep paying the rest of the lease. * LOL.

I thought the way this worked was that you just kept paying the lease after taking it over, and nothing more.
You'd be surprise on how many suckers are out there.
Last edited by MrDisco on Dec 8th, 2018 6:39 pm, edited 1 time in total.
Reason: Quote edited
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Sep 9, 2012
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Coincidentally, I was looking at LeaseBusters last week and found this “deal”....

Land Rover Range River Sport
Monthly including Tax = $1,294.76
Incentive = $2,500

Sounds decent, right? Looking at the details though.....

It currently has 51,000 kms on it with 15 months remaining on a cap of 52,000 kms!

Excess km charge is $0.25 per km.

So you make payments totalling $19,000 for the next 15 months for the privilege of driving it like 600 kms a month. Basically, the “incentive” is simply covering the first 10,000 kms of the overage penalty.

If like most people you drive it 15,000 - 20,000 instead then you’ll be looking at paying overages out of your pocket at lease end!

The guy is just trying to pass the overage charges on to you. He signed up for a 16,000 annual km allowance but has been driving it at the rate of 26,000 annualized. He’s offering a $2,500 incentive in order for him to get out of at least $7,500 worth of excess kms.

Be careful looking at the math on these thins!
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CanadianLurker wrote:
Dec 5th, 2018 2:43 pm
Coincidentally, I was looking at LeaseBusters last week and found this “deal”....

Land Rover Range River Sport
Monthly including Tax = $1,294.76
Incentive = $2,500

Sounds decent, right? Looking at the details though.....

It currently has 51,000 kms on it with 15 months remaining on a cap of 52,000 kms!

Excess km charge is $0.25 per km.

So you make payments totalling $19,000 for the next 15 months for the privilege of driving it like 600 kms a month. Basically, the “incentive” is simply covering the first 10,000 kms of the overage penalty.

If like most people you drive it 15,000 - 20,000 instead then you’ll be looking at paying overages out of your pocket at lease end!

The guy is just trying to pass the overage charges on to you. He signed up for a 16,000 annual km allowance but has been driving it at the rate of 26,000 annualized. He’s offering a $2,500 incentive in order for him to get out of at least $7,500 worth of excess kms.

Be careful looking at the math on these thins!
I sees what yous done there

Ragusayku would be proud
Re: Procurement, Life & RFD
nasa25: say you won it in a raffle. That's what I do with like 86% of my purchases
infinityloop: Lying to your SO seems like an unhealthy long term strategy
nasa25: lmao
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MusicBox wrote:
Dec 5th, 2018 1:57 pm
I always thought that people that wanted to give up car lease payments were doing it because they felt under pressure and were desperate but that's not the case. I just contacted this place where you can take over leases from people that want to get rid of them. Guess what? They want to make a profit out of you.

This guy wants to get out of a $450/month lease for an Infinity sedan. But he wants me to give him cash up front (about $9k) that he has given the lender over the years and for me to keep paying the rest of the lease. * LOL.

I thought the way this worked was that you just kept paying the lease after taking it over, and nothing more.
Well you thought wrong.

Not all leases are bad that people are just trying to get out from them.

If the car is valued at $100k, but with all special deals and downpayment he made, his monthly payment is only $500, instead of $1000. And at the end of the lease, the buy-out is only $30k, instead of regular $50k. Those are huge incentives for people who would like to take over the lease with the intention to buy-out the car at lease-end.
Last edited by MrDisco on Dec 8th, 2018 6:40 pm, edited 1 time in total.
Reason: Quote edited
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konsensei wrote:
Dec 5th, 2018 3:04 pm
Well you thought wrong.
Considering the OP, you really didn't need to keep typing after that.
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nasa25 wrote:
Dec 5th, 2018 2:51 pm
I sees what yous done there

Ragusayku would be proud
Fat finger in iPhone strikes again!

And just to be clear, knowing that you’re a purveyor if fine British motoring chariots, for first name isn’t Wayne? Is it? Wayne is the contact for the ad - lol.
[OP]
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Dec 15, 2017
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Toronto
vkizzle wrote:
Dec 5th, 2018 2:24 pm
You'd be surprise on how many suckers are out there.
I believe it. Because if I have to give this guy 9k cash to take over his headache what do I get in return? Nothing! The vehicle has been degraded and is a used vehicle now. In that case I would just go to the dealership and get the same car brand new myself.
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CanadianLurker wrote:
Dec 5th, 2018 3:18 pm
Fat finger in iPhone strikes again!

And just to be clear, knowing that you’re a purveyor if fine British motoring chariots, for first name isn’t Wayne? Is it? Wayne is the contact for the ad - lol.
Not Wayne but I’ve always fancied that name.

Solid name that is.
Re: Procurement, Life & RFD
nasa25: say you won it in a raffle. That's what I do with like 86% of my purchases
infinityloop: Lying to your SO seems like an unhealthy long term strategy
nasa25: lmao
Sr. Member
Aug 18, 2014
503 posts
306 upvotes
Markham, ON
OP do you also make a post and complain about every ads and products you think are overpriced out there?

If you don't like it, just walk away...
No one force you to buy and look at it...a canada goose jacket for $1.5K might be ret*rded to you or some, but bargain for others.

Stop whining about stuffs that doesn't even affect you
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May 4, 2014
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Toronto, ON
MusicBox wrote:
Dec 5th, 2018 1:57 pm
I always thought that people that wanted to give up car lease payments were doing it because they felt under pressure and were desperate but that's not the case. I just contacted this place where you can take over leases from people that want to get rid of them. Guess what? They want to make a profit out of you.

This guy wants to get out of a $450/month lease for an Infinity sedan. But he wants me to give him cash up front (about $9k) that he has given the lender over the years and for me to keep paying the rest of the lease. * LOL.

I thought the way this worked was that you just kept paying the lease after taking it over, and nothing more.
An infiniti lease payment is typically much more than $450/month. This guy put down a sizeable down payment(his mistake), and now trying to find a sucker to take over.
Last edited by MrDisco on Dec 8th, 2018 6:41 pm, edited 1 time in total.
Reason: Quote edited
Deal Fanatic
May 1, 2012
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Markham
I think the biggest takeaway here is that people still buy Infinitis.

I am surprised these dealerships arent bankrupt.

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