• Last Updated:
  • Feb 21st, 2019 8:15 pm
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[OP]
Member
Feb 6, 2015
220 posts
13 upvotes
Markham, ON

Lease busters

Hey RFD,

So i sold my summer car and Im looking on leasebusters currently for a car as I specifically want both the type R or the STI and dont really want to officially lease one for brand new, either one i dont really mind. I was wondering however, is leasebusters legit and how do you go about doing the whole transfer? you just go ahead and meet the guy at his dealership? Or do it through the leasebusters company in Mississauga? Any tips would be appreciated!

Regards.
17 replies
Newbie
Jul 12, 2008
79 posts
109 upvotes
Calgary
The trick is to super low ball who ever is trying to pass on their lease. Look for cash incentives to take over.
Deal Addict
Feb 26, 2006
2432 posts
420 upvotes
Ottawa
Is there a better site than this? Has got to be the most ghetto 1990s site.. It hasn't changed since inception..
Deal Addict
Jan 17, 2009
1352 posts
1144 upvotes
Toronto, Ontario
There’s deals to be had but you have to sift through a lot of crap.

If you want a deal on a car buy a few years old but something like an STI with good resale value new is very tempting so you don’t get one that’s been beat on (assuming you want to keep it long term).
Member
Dec 13, 2005
251 posts
108 upvotes
Both my cars are from lease Busters. In one case I took over a Mazda 3 with manual transmission with very low km. The other was a Honda Odyssey from a diplomat that was leaving the country. In both cases they were either difficult cars to move (manual transmission) or the diplomat wanted to have a quick way out of lease so offered fairly large cash incentive and nearly new winter tires on rims etc.

Basically if they are motivated or the car is harder to move then you will likely come out ahead, but you need to do the math to make sure that the deal makes sense.

One of them was interprovincial Quebec to Ontario in Ottawa Gatineau... It is possible, but huge hassle. Definitely try to do a local deal within your province as there can be lots of driving to get your car plated the day of the deal (unless the dealer sends someone to the licence bureau for you), and you won't be able to use the new car before the plates are on.
Deal Addict
Jun 20, 2006
2142 posts
405 upvotes
be careful, ive seen some who have already used up all their allowed mileage (or are very close to the max) and trying to unload the car so you'll get dinged with paying their over mileage fee
make sure u find one giving a cash incentive (or paying a few months off) or has put a larger downpayment
many cars shown are cold deals with large monthly payments (and u can get cheaper yourself by just walking into a dealer ...)
also make sure there's no damage or accidents as if you plan on returning it, you'll pick up the tab
For sale threads:
GCs / Coins
Cloth / Phones/
Deal Addict
Jan 25, 2008
1023 posts
349 upvotes
Montréal
You also need to look at the price of a similar used car as a comparable. If you are leasing a car in its 3rd year, it's lost 40% of its value, you might be better with a 3rd party leasing company or financing the used car. That being said, there are deals to be had but I would drag a wide net. Maybe a BMW or an infiniti on LB could be a better deal (for example).
Deal Addict
Jan 8, 2007
2327 posts
815 upvotes
Calgary
shylok wrote:
Feb 19th, 2019 9:13 pm
Is there a better site than this? Has got to be the most ghetto 1990s site.. It hasn't changed since inception..
kijiji and type in lease takeover in the search.
Deal Expert
User avatar
Apr 21, 2004
50602 posts
15371 upvotes
redkid wrote:
Feb 19th, 2019 10:44 pm
be careful, ive seen some who have already used up all their allowed mileage (or are very close to the max) and trying to unload the car so you'll get dinged with paying their over mileage fee
make sure u find one giving a cash incentive (or paying a few months off) or has put a larger downpayment
many cars shown are cold deals with large monthly payments (and u can get cheaper yourself by just walking into a dealer ...)
also make sure there's no damage or accidents as if you plan on returning it, you'll pick up the tab
Is it best to have the car checked out at the dealership for wear and tear and other repairs that were fixed?

I wouldn't even bother leasing unless I plan to buy the car outright so I would look at shorter term leases only.
Deal Fanatic
Aug 14, 2007
9957 posts
1348 upvotes
Toronto
sophal wrote:
Feb 19th, 2019 8:58 pm
The trick is to super low ball who ever is trying to pass on their lease. Look for cash incentives to take over.
Most likely people that have their car on LB is probably because they can't afford it. So I agree with the lowball tactic.
Deal Expert
Aug 2, 2004
30497 posts
5037 upvotes
East Gwillimbury
XtremeModder wrote:
Feb 20th, 2019 11:23 am
Most likely people that have their car on LB is probably because they can't afford it. So I agree with the lowball tactic.
They can’t afford it, so you make them bleed a little more to help them out?
Deal Fanatic
Aug 14, 2007
9957 posts
1348 upvotes
Toronto
Gee wrote:
Feb 20th, 2019 11:31 am
They can’t afford it, so you make them bleed a little more to help them out?
Not that I would feel good about it, but if they're desparate to get out of it then you're likely to get a much better deal. They made a bad decision and just want it to go away, I'm sure they're happier when they see the problem is gone.

Come on it's just how it works.
Deal Addict
Jun 20, 2010
1440 posts
678 upvotes
redkid wrote:
Feb 19th, 2019 10:44 pm
be careful, ive seen some who have already used up all their allowed mileage (or are very close to the max) and trying to unload the car so you'll get dinged with paying their over mileage fee
make sure u find one giving a cash incentive (or paying a few months off) or has put a larger downpayment
many cars shown are cold deals with large monthly payments (and u can get cheaper yourself by just walking into a dealer ...)
also make sure there's no damage or accidents as if you plan on returning it, you'll pick up the tab
Also look at tire and brake wear. these can be costly replacement items especially on a performance car.
Deal Addict
Aug 16, 2009
1060 posts
263 upvotes
Toronto
Never took over a lease or leased before. I have some questions. What are some incentives to ask for if I'm interested in taking over the lease? If they put a down payment or deposit, I'm assuming it's not far fetched to ask to keep it? How much the buyout is after the lease is over should be good information to have? How do I find out how much it will cost for them to break the lease?
Deal Expert
User avatar
Apr 21, 2004
50602 posts
15371 upvotes
XtremeModder wrote:
Feb 20th, 2019 11:23 am
Most likely people that have their car on LB is probably because they can't afford it. So I agree with the lowball tactic.
Or there is a potential huge bill they are trying to avoid lol.

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