Automotive

Locked: Lease Takeover Deal

  • Last Updated:
  • Aug 15th, 2019 10:24 am
[OP]
Member
Feb 6, 2015
226 posts
16 upvotes
Markham, ON

Lease Takeover Deal

Hey All,

I’ve done research over redflagdeal on lease takeovers. Currently I’m dealing with someone who has 9 months left on his sti, and is looking to get rid of it before he goes to Asia for a year. He said the car was in a minor parking accident where someone backed into his bumper and left a note so he went through insurance claim to fix the bumper and to replace the headlight (he said it was scratched and to fix is basically same price to replace). Claim was for about 2500$.

I’m looking to take over this lease but wanted to know, how does the accident affect the return of the vehicle at the end of the lease?

Also, in terms of the inspection, do I just have the dealer do an PRE purchase inspection to see if the car is good? Other than that the dealer takes care of the papers after credit has been approved?

Any tips will be appreciated! Thanks
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6 replies
Deal Expert
User avatar
Jul 30, 2007
27763 posts
12837 upvotes
Toronto
hehe. Why is everyone you found is leaving/left the country ? Winking Face

If you are doing this lease takeover, you can buy it outright immediately. No need to keep on paying Subie FS the payment with interest on them. Overall, accident will have no bearing if you are indeed buying it out. If you are going to return the car, then you may want to see the paint work & finishes ... mismatch paint may be easily detected by the inspection and may ask you to either fix it or Subie FS will do a chargeback on you.

As a tip, always have the car to go thru a PPI when you are to do this takeover. You should get the current owner to give you all maintenance records and also the insurance claim report and body shop repair bill.
[OP]
Member
Feb 6, 2015
226 posts
16 upvotes
Markham, ON
Trust me if I knew why I would answer you haha. But thanks for your response!

Okay so couple of things, this guy is apparently NOT original leased and he took over the lease of someone else who originally got it at maple Subaru. He said he did the transfer at downtown Subaru insteaad. Does it matter which dealership handles the process? Also, can you even transfer a lease three times? Anything fishy about that?
Deal Expert
User avatar
Jul 30, 2007
27763 posts
12837 upvotes
Toronto
leasetakeover application (paper work) can be done at any dealership. You just have to call a couple of them to see how much they want as their application fee is fixed but dealer can add admin fee to do the application for you.

Not sure what rules there are for Subie leases. You can ask the dealer or Subie Canada for this question. btw, you should be also asking the current owner to get a statement of account to ensure there is no arrear payment as of today.
Deal Guru
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Oct 6, 2010
14075 posts
8489 upvotes
Toronto
oh wow.....this again...
DYI difficulty scale:
0-joke
10-no joke

¯\_(ツ)_/¯
Deal Guru
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Oct 5, 2008
13263 posts
7382 upvotes
Toronto
Moderator
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Sep 30, 2001
28360 posts
7354 upvotes
Toronto
OP: please use one of your existing threads for your car buying journey.
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