Vehicle Lease vs Buy: leasing, lease vs buy, cheryl bowman


Question
I someone leases a car for 3 years, and after one or two years decides they would prefer a different model from the same dealer, could they transfer the lease to that newer car or would that be considered breaking the lease? (which I assume is not good to do)  Thanks

Answer
Just like any other contract that you find yourself obligated to.  There is a way out.  The question is, are the reasons to get out of the lease worth the cost?

It is very simple.  At which point you want to get out of the lease you will take the remaining payments add them together and that is your buy out.  If you can take this amount and roll it into the next purchase and the monthly payment is affordable then you may want to consider getting out early.

I have seen scenario's where it works and the customer gets exactly what he/she wants.  and at other times the calculated payment is too high and not affordable.

Cheryl Bowman
www.themercedeslady.com