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Old 02-01-2008, 11:45 AM
 
15 posts, read 72,080 times
Reputation: 17

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I'm planning to buy a car sometime Nov 2008 or early next year. I need a temporary car in the meantime. Is there such thing as 1 yr least in the Triangle or nearby area?
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Old 02-01-2008, 01:25 PM
 
121 posts, read 410,939 times
Reputation: 45
I have never heard of a 1 year lease. If you find one, I would think it would be VERY expensive, since the car depreciates so much in year 1.

If you are looking for a short term vehicle, I highly recommend you look to acquire a lease that someone is trying to get out of. How it works is you basically are responsible for the payments through the end of their lease. Then you just hand in the keys and walk away. NOTE: if the car is over the allotted miles, YOU are responsible to pay the overage fees. 2 websites come to mind:

LeaseTrader.com - Car Lease - Lease Assumption - Short Term Leases
swapalease.com - car lease takeover - auto lease assumption - car lease transfer - auto lease take over

Both sites allow you to see a huge inventory of cars in all price range. Just make sure you look at all the costs with the lease. Some "sellers" will charge you a fee to take their lease (downpayment), and some will actually pay you cash to take over the lease (incentive). Take into consideration all the fees when determining your real monthly payment.

Good luck.
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Old 02-01-2008, 03:53 PM
 
15 posts, read 72,080 times
Reputation: 17
Default awesome!

Quote:
Originally Posted by ncwannabe2 View Post
I have never heard of a 1 year lease. If you find one, I would think it would be VERY expensive, since the car depreciates so much in year 1.

If you are looking for a short term vehicle, I highly recommend you look to acquire a lease that someone is trying to get out of. How it works is you basically are responsible for the payments through the end of their lease. Then you just hand in the keys and walk away. NOTE: if the car is over the allotted miles, YOU are responsible to pay the overage fees. 2 websites come to mind:

LeaseTrader.com - Car Lease - Lease Assumption - Short Term Leases
swapalease.com - car lease takeover - auto lease assumption - car lease transfer - auto lease take over

Both sites allow you to see a huge inventory of cars in all price range. Just make sure you look at all the costs with the lease. Some "sellers" will charge you a fee to take their lease (downpayment), and some will actually pay you cash to take over the lease (incentive). Take into consideration all the fees when determining your real monthly payment.

Good luck.
the websites are awesome! thanks a lot ncwannabe2!
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Old 02-02-2008, 05:37 AM
 
Location: Durham, NC
1,364 posts, read 6,025,462 times
Reputation: 764
how is liability determined when the lease car is turned in and there is damage or wear (tire wear etc)

who is responsible?
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Old 02-02-2008, 11:35 AM
 
354 posts, read 1,218,585 times
Reputation: 90
Quote:
Originally Posted by sneezecake View Post
how is liability determined when the lease car is turned in and there is damage or wear (tire wear etc)

who is responsible?
Of course, that would be the current lessee when he/she turns in the car at the dealership at the end of the lease. I know BMW does not charge for tire wear unless it is below the minimum safety standard and the tire(s) have to be replaced due to that.
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Old 02-02-2008, 03:20 PM
 
9,680 posts, read 27,179,716 times
Reputation: 4167
Leasing is usually a bad idea.

Can you move down to a lower priced new car and buy it?

Just got a new 2008 Toyota Corolla CE at Fred Anderson for a bit over $14K.
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