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Posted by Stephen Goldberger (more from Stephen Goldberger) on Fri, 9 Jan 2004 10:35:40
In Reply to: Reliability issues and lease question, Ray Sands, Thu, 8 Jan 2004 14:17:30
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You're stuck paying the mileage overage, but you're also stuck driving where you need to drive for the next 8 months. You just might find someone who just doesn't drive much and buy down the lease payments enough to make it worth his while and your while to have him take over the lease. Lease overage is what, $.20 per mile? Then if it's $500 to transfer the lease, that's the same as 2500 miles. You're already into the lease for $600. At the rate you're driving, you'll be at 50,000 miles or so at lease end, or $2800 into the penalty phase (assuming $.20 per mile. Could be more - I don't know the penalty). Find a guy who drives like me, maybe 200 miles per month not counting trips (which could be taken in "the other car") and buy down the lease by paying him $2500 to take it over. That's $125 per month off the lease rate, plus it costs him per mile to drive it. Sort of depends on how good a lease you got in the first place - if it was a $300 per month, it gets attractive - $175/mo for 8 months.
posted by 24.166.8...
Posts in this Thread:
- Reliability issues and lease question, Ray Sands, Thu, 8 Jan 2004 14:17:30
- Re: A solution to your problem, Posidon, Sat, 10 Jan 2004 11:19:23
- Run for now, but you'll be back (long)...., Aero9k, Sat, 10 Jan 2004 09:20:27
- Swap-a-lease-dot-com, Stephen Goldberger, Fri, 9 Jan 2004 10:35:40 <-- Viewing This Message
- Unfortunately, out of luck . . ., Mike D, Thu, 8 Jan 2004 18:45:12
- Re: Reliability issues and lease question, LesH, Thu, 8 Jan 2004 14:35:21
- Re: Reliability issues and lease question, Jason 0W-40, Thu, 8 Jan 2004 14:29:21
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