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Lease swaps - Experience? Credit?

Lease swaps - Experience? Credit?

Old Feb 13th 2012, 10:30 am
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lj2
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Default Lease swaps - Experience? Credit?

Hi all – I have done a search and read through the last few years worth of applicable threads and notice numerous mentions of lease swapping as a possibility for car hire/purchase. In principal, this appears perfect for me as it avoids a down-payment which wouldn't be welcome on US move due to the other lump sums required to be paid at that time (eg furniture and deposits).

My questions are this:

1 – Does anyone have any experience of swapalease.com or any other lease swap services? If so, please do share…

2 – How demanding are the credit requirements likely to be for being able to be a 'swapee'.. I note one instance of someone paying for the full lease up front as a new immigrant but I would be unlikely to have that ability. I will have some (but not great) credit history (see other post).

Look forward to your thoughts!!
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Old Feb 13th 2012, 6:56 pm
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Default Re: Lease swaps - Experience? Credit?

Get a banger?

Your other problem would be getting slaughtered on the insurance anyway.

If in a warm and dry state, you can easily get a 4-5 year old Honda sub 55K miles on the clock for $6-9K.
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Old Feb 15th 2012, 9:57 am
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Default Re: Lease swaps - Experience? Credit?

Originally Posted by Bob View Post
Get a banger?

Your other problem would be getting slaughtered on the insurance anyway.

If in a warm and dry state, you can easily get a 4-5 year old Honda sub 55K miles on the clock for $6-9K.
It's having the 6-9k up front that's tricky. Are you saying that the insurance would be worse using swap a lease than getting a new car through international autosource?
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Old Feb 15th 2012, 12:46 pm
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Default Re: Lease swaps - Experience? Credit?

Originally Posted by lj2 View Post
It's having the 6-9k up front that's tricky. Are you saying that the insurance would be worse using swap a lease than getting a new car through international autosource?
Insurance will be shit regardless with no credit and driving history.

A new car will be more expensive to insure than a older car.

A loan will build up credit history and score...a lease generally won't.
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