Assuming a car lease?

[Anonymous]

We are moving away from Metro/ZipCar so I would like a second car for the next 18-24months until we move cross country. Does anyone have experience taking over some else's car lease? It would be nice to avoid the initial down payment if it's otherwise not too much trouble/risk. I am assuming 500-700 miles per month.

[Anonymous]

Anonymous wrote:We are moving away from Metro/ZipCar so I would like a second car for the next 18-24months until we move cross country. Does anyone have experience taking over some else's car lease? It would be nice to avoid the initial down payment if it's otherwise not too much trouble/risk. I am assuming 500-700 miles per month.

I did this once. I had a year left on my Lexus lease, no longer needed the vehicle so my friend assumed the loan. Lexus took care of the whole transaction, we never had to divulge private info to each other - FICO, Income etc. It was very easy! That was 4 years ago, they still have the vehicle - only its paid off now

[Anonymous]

this always seemed like a good deal to me. Not sure what the catch is. Bad for the first party though.

[Anonymous]

Anonymous wrote:this always seemed like a good deal to me. Not sure what the catch is. Bad for the first party though.

That's what I figured, your bad luck is my good luck.