I saw on Clark Howard's website a story about leasetrader.com, where people try to find others to take over their leases part way through.

This seems pretty intriguing for those who want to get in and out of cars frequently. You've got to pay the lease, but the original lessee had to make the down payment, etc.

Anyone ever try this or know someone who did?

Not only did the original lessee have to make the down payment and all that, but FREQUENTLY people will PAY YOU thousands to take OVER their lease. Swapalease.com was the pioneer of this and its really as good as it sounds.

Perfect for you Ian, there are a lot of leases with only a few months left.

Perfect for you Ian, there are a lot of leases with only a few months left.

LOL Sad but true. Only thing is I'd have to get out of my current cars first.

Good idea, but there are issues:

- Some leasing companies, like Ford Credit I believe, do not allow the original lessee to transfer complete legal responsibility to another party. I believe GMAC does allow a complete transfer, through, and the new lessee has to pay a $600 initiation / transfer fee.

- If you are taking over a lease, it's just like buying a used car - caveat emptor. The lease turn-in responsibilities like good tires, unchipped windshield, excess mileage, fixed dents and dings, etc. are all yours.

- Many of the vehicles listed for lease swaps are the same ones not selling on dealer lots - pickups, SUVs, and luxury cars. If you really need one of these cars, current incentives may make leasing a new car even cheaper.

i'd suggest just buying that 2 year old lease turn in, certified, for cash.

It's the limited time frame that is the thing that interests me. It would have to be warrantied though...

It's the limited time frame that is the thing that interests me. It would have to be warrantied though...

Many of the luxury cars are not only warranted but also have full maintenance during the lease time-frame.