Dumping Your Car Lease

Physician's Money Digest, February15 2005, Volume 12, Issue 3

Note:

As lease periods on cars havestretched to 4 and 5 years, a growingnumber of drivers are finding themselvessaddled with cars they no longer like,but that have several years left on thelease. Turning in a car before the leaseperiod is up can cost megabucks, so anumber of entrepreneurs have come upwith a solution. At Web sites likeLeaseTrader.com and Swapalease.com,you can hook up with a car shopper willingto take over your lease. You'll pay afee, of course, but it's probably thousandsof dollars less than what returningthe car to the dealer would cost you.If you're a buyer, you may findsome sweet deals on these sites that carrya short-term lease and no down payment,but check the mileage and makesure the car's warranty is still in force.