Car Lease Takeover

Amazon let it go
Jun 25 7 Comments

I am moving to the US from Australia and don’t want to buy a car until I settle in the new job. A 36+ month lease is a long commitment too. The obvious choice is taking over someone else’s lease (6-12 months).

- Is being new (no credit history) going to be a problem?

- Anything I need to be careful about with lease takeover?

comments

Want to comment? LOG IN or SIGN UP
TOP 7 Comments
  • Valassis / Eng
    GNu002

    Valassis Eng

    PRE
    Microsoft
    GNu002more
    If you are even able to get approved for a lease, understand exactly what you're getting into especially with respect to mileage, condition, modifications, accidents, etc.

    Buy a cheap car with cash and sell it when you're ready to upgrade.
    Jun 25 3
    • Amazon let it go
      OP
      Do you have experience in getting approved for lease? What are the usual requirements?
      Jun 25
    • Valassis / Eng
      GNu002

      Valassis Eng

      PRE
      Microsoft
      GNu002more
      You go thru a lease transfer agency. You'll need acceptable credit and pay transfer fees.

      Once the transfer is done you are completely reasonable for the vehicle at the end of the lease. Too many miles? You. Damage from an undeclared accident? You. The engine blew up but they didn't change the oil so the warranty was voided? All you.

      There are a bunch of lease transfer agencies. Pick a reputable one.
      Jun 26
    • Amazon let it go
      OP
      everything makes sense but not sure how quickly will I build credit. I’ll read on it. Thank you!
      Jun 26
  • Amazon saiyan_87
    There are companies like fare or fair , dnt know the exact name where you can lease car for as long as you want , like in months or years , but they charge one time downpayment. Not sure if it will suit your scenario but check it out
    Jun 25 1
    • Amazon let it go
      OP
      Found it fair.com looks interesting. Thank you very much.
      Jun 25
  • Juniper / Eng faSt60
    Check our swapalease.com ! It's a good source to start with ! Good luck 👍
    Jun 25 0