Has anybody used Lease trader.com? (truck, purchase, selling, Acura)

[GreenMachine]

Just wondering if anyone has used leasetrader.com to get in on a lease on a vehicle. Supposedly you can takeover someone's lease, so you avoid the downpayment and you have a shorter term. However, you have to pay fees, including bank fees, to cover the transfer.

I've heard good things about the program. Has anyone tried it?

Greenie

[GreenMachine]

Nobody has any experience with leasetrader.com?

[Tryingtofigureitout]

Never heard of anyone trading cars during a lease contract. I personally leased my first new vehicle for a 24 month lease. It was a great deal! The monthly payments were $199~. I traded the truck at about 12-13 months into the lease. They paid off the lease and I was still able to purchase my new truck for a great price.

[GreenMachine]

Originally Posted by Tryingtofigureitout

Never heard of anyone trading cars during a lease contract. I personally leased my first new vehicle for a 24 month lease. It was a great deal! The monthly payments were $199~. I traded the truck at about 12-13 months into the lease. They paid off the lease and I was still able to purchase my new truck for a great price.

What kinda truck did you get?

[dickjohnson]

I was going to use them but after I signed up they kept calling several times a day trying to push me to make a decision. Of course the people calling had a difficult time speaking english...This made me suspicious. If I wanted to get typical car dealer treatment I would have used my local dealer. I ended up using another company that and they were not pushy at all and alot more professional.

[emailvasally]

I personally dont lease vehicles, but my cousin used them twice.
She has not had any complaints. leased 2 vehicles through them and exchanged 1.

[Donn2390]

Most leasing companies won't let you sublease. I have heard of scams doing this kind of thing. They scam the guy they take the lease car from, and then scam the guy who takes it over.
Not saying the company you're speaking of is bad, just saying be careful.
If you want to take over a lease., go to the company that originally leased the vehicle to see if it's on the up and up.
There was a recent deal in LA where a guy doing this got tossed in jail for taking a lease the original guy could no longer afford, and reselling/leasing it.
He didn't have permission form the original leasing company. Most leasing companies won't allow such deals...

[travelguy_73]

Originally Posted by Donn2390

Most leasing companies won't let you sublease. I have heard of scams doing this kind of thing. They scam the guy they take the lease car from, and then scam the guy who takes it over.
Not saying the company you're speaking of is bad, just saying be careful.
If you want to take over a lease., go to the company that originally leased the vehicle to see if it's on the up and up.
There was a recent deal in LA where a guy doing this got tossed in jail for taking a lease the original guy could no longer afford, and reselling/leasing it.
He didn't have permission form the original leasing company. Most leasing companies won't allow such deals...

I haven't leased a car from leasetrader.com, but have thought about it and spent quite a bit of time on their website. I cannot speak to actually completing a transaction, but the cars they show on their website are owned by leasing companies that will allow taking over a lease (or they wouldn't be on there). GMAC, BMW, Toyota, Honda/Acura, Fifth Third, etc. They each have different rules, but do allow transfers.

[emailvasally]

They have to have the permission of the original leasing company. It can be a pain in the *ss.

this is what my cousin went through. she had a Mercedes and apparently there was some sort of issue with taxes paid. DMV in VA said taxes werent paid, mercedes said they were. well mercedes wouldnt let the lease tranfer until it was taken care of. by the time it was all hashed out this guy in CA had driven their car for almost a month with everything still in my cousins name. All is fine now, but what if their was an accident or something? as with everything, you need to dot your eyes cross your teeth and read all fine print.

[Bummer]

Originally Posted by GreenMachine

Just wondering if anyone has used leasetrader.com to get in on a lease on a vehicle. Supposedly you can takeover someone's lease, so you avoid the downpayment and you have a shorter term. However, you have to pay fees, including bank fees, to cover the transfer.

I've heard good things about the program. Has anyone tried it?

Greenie

Originally Posted by GreenMachine

Nobody has any experience with leasetrader.com?

No personal experience, Green

However, there was a consumer type show on TV about six months ago addressing these very companies. As I remember the show, most, if not all, of the comments were fairly positive.

Good Luck