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Lease Question

427 Views 2 Replies 3 Participants Last post by  Kev
Ok, so I'm not very knowledgable when it comes to leasing, and I'm hoping someone can explain this to me.

I'm looking at all these cars on the lease takeover sites, and some just don't make sense to me.

Say this one for example:

5 months left on the lease at $555 per month. There's a $2500 cash incentive which brings the payments down to $55 per month.

Why don't they just stick it out for another 5 months instead of trying to get someone to takeover it?

Why are there cars with just 2 months remaining on the lease on those sites? What's the catch at the end of the lease? Do you have to keep the car? Can I just take over a lease with 2 or 3 months remaining, then return it to the dealer at the end of the lease and walk away? It'd be nice to pick up a car and beat on it at a track for a couple hundred $ for like 2 or 3 months.
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I dunno...spent some time on the website and couldn't find ANY concrete explanation of what the hell their plan was to actually do what they say. Sounds fishy...
You need to read and understand the terms of the lease agreement. Many leases have limits on mileage through the term of the lease with a heavy penalty for each mile over. Some leases have balloon payments at the end, there are many good reasons for a person to want out of a lease early and many good reasons not to get into one in the first place.

Remember the old adage; "If it's too good to be true it probably isn't.."

Or in this case, if the car and the lease were such a good deal why would anyone want out?

Be very careful!
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