Quote:
Originally Posted by dsad1
Has anyone here assumed a lease on swapalease?
I am looking for a "fun" car for 12 months or so and I am thinking of assuming a lease. What should I watch out for? I am wondering if the risk/hassle isn't going to be worth it for 12 months or less.
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When considering assuming a lease 2 years into a 3 year lease, if you have to pay the full standard monthly payment aren't you likely to come out ahead by just buying a 2 year old car and keeping it for a year? Seems like the largest part of the lease is paying for the depreciation and 2 years in it already went through the steepest drop.
As an example, if the car leases for $600 a month, the year you have it costs you $7200 and it makes sense overall from year 0-3 as an average but not as much from year 2-3. Same reason that a 2 year lease costs a lot more per month than the 3 year.