Posted by Hal North Jersey on Wednesday, November 07, 2007 at 16:45:56 :
In Reply to: OT: question about leasing posted by John C on Wednesday, November 07, 2007 at 13:34:18 :
Marty is on point. Finding someone to assume your lease is a common transaction. In fact there are web sites out there specifically for this (don't know offhand which ones, but Google it). There are plenty of folks out there that will assume a lease. You will probbaly have to make some sort of payment to that party to induce them to assume the lease, but it is a way out.
The lease companies almost always have harsh terms for an early return. The requirement to prepay the whole remainder of the payments is not uncommon (unfortunately). Yes, it's "way out of line" but that's where most of the leasing market is, and a court would definitely uphold the lease.
My view by the way is that leasing is almost always better than owning.
AND, if you want to lease a car? go find someone that wants to get out of their own existing lease - you'll get a great deal!!!
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