Thinking of buying out a lease from someone on craigslist. The remaining amount is quite low - which led me to wonder if there is a catch to taking over a 2012 lease.

Anyone with any experience here?

The idea of leasing is to have a new car to drive; I wouldn't touch it unless it's from a major dealer. Craigslist is famous for rip-off artists.

When does the lease end? Might be low because its ending within the next year or so, a 2012 start might mean ending in 2015 if its a 36 month lease.

Not sure why anyone would want to take over a lease, all your doing is basically renting the car for an extended period of time.

If you are contemplating a leasem takeover, id suggest leasebusters.com as a more reputable marketplace.

If someone is trying to offload a car near the end of its lease you need to check what you will be responsible for when you surrender the vehicle. Excess wear and tear? Excess mileage? Damage?

Don't. If it's too good to be true, it's a scam. Why is this person trying to unload his lease? What do you know about him? What exactly are the terms of the lease? How do you know he is actually the leasee? Craigslist is a prime hunting ground for crooks looking for suckers - don't be one.

For something small, say a tv, computer, video game console, yes, I might look at craigslist, but for a car lease, no, I would stay well away. As others have mentioned, look at leasebusters. It's likely you may also get a better deal on a much newer car too.

Thanks, folks, you saved me. I didn't proceed based on the advice.