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  • 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
84 posts
132 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
2577 posts
525 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
1796 posts
1694 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
254 posts
112 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
2203 posts
454 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
1306 posts
697 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
2409 posts
914 upvotes
Calgary
shylok wrote: 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.
Penalty Box
User avatar
Apr 21, 2004
51737 posts
16245 upvotes
redkid wrote: 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 Guru
Aug 14, 2007
10246 posts
1524 upvotes
Toronto
sophal wrote: 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
31194 posts
5418 upvotes
East Gwillimbury
XtremeModder wrote: 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 Guru
Aug 14, 2007
10246 posts
1524 upvotes
Toronto
Gee wrote: 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
1577 posts
818 upvotes
redkid wrote: 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
1116 posts
330 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?
Penalty Box
User avatar
Apr 21, 2004
51737 posts
16245 upvotes
XtremeModder wrote: 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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