Want the shortest terms and the lowest payments on a car lease? Then lease swapping may be for you.
Lease swapping occurs when someone who’s leasing a car transfers that car to someone else. The lease contract stays the same; the “buyer” simply takes over the rest of the lease.
For example, imagine someone leases a new car with a four-year lease term and a total of 48,000 miles allowed (1,000 miles per month). If, after two years and just 20,000 miles, that person wants out of the lease, they can transfer it to someone else. The new driver would then have the car for the final two years of the lease and could drive it another 28,000 miles.
Why lease swapping makes sense
When someone signs a lease contract, they’re committing to leasing the car for a set number of months or years. Sometimes, though, people want to change vehicles before the lease term is up. Perhaps they can no longer afford that luxury sedan or have added to their family and need a larger SUV.
When that happens, they can’t just return the car, or even if they do, they’re still responsible for all of the remaining monthly payments plus some early termination fees. However, if they transfer the lease to a new driver, they can avoid those payments and fees. This often makes for a very motivated seller; they may be willing to pay you to take over their lease, because doing so will still be cheaper than turning the car in. They save money and you save money, and both parties end up with shorter, more convenient leasing terms.
There are other benefits to lease swapping as well, including the lack of a down payment and lower monthly payments than if you tried to buy the same vehicle.
At Swapalease.com, we’re the established leaders in the lease swapping marketplace. You can search our listings to find thousands of great deals on lease vehicles from New York to L.A. Please contact our helpful staff if you have any questions or would like more information.
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