Hello All,

I've been lurking for quite awhile as I've been researching the next vehicle I'd like to get for a daily driver and I've got a question about LeaseTrader.

A little bit about myself: I've owned and autocrossed an 01 Miata and 97 M3 Sedan. Later I bought an 04 BMW 330i ZHP and just recently sold it. I was convinced I'd buy a gently used E46 M3 or a 996, but due to the economy and the uncertainty of the architectural field I think it would be best to get a fun, reliable car for a year or two to build my savings back up...and then take the plunge.

This begs the question, what car...and I was thinking used 350z, s2000, or cooper s. (for the low cost of ownership I'd love to get an older M coupe, boxster s or 964...but I'm worried about repair costs for the older cars). But while researching these I came across LeaseTrader and noticed there are several Z cars and Cooper S cars for $300-$400 per month with around 24 months left on the leases with enough miles. I've never leased a vehicle before (always bought used with the excpetion of the Miata) and want to know if anyone on this board has done a lease transfer and if it was a good experience.

For me "renting" a Cooper S for two years at $300 per month seems too good to be true and usually that does not bode well. Your input would be greatly appreciated. Also if anyone has any other suggestions for fun reliable car choices...I'd love to hear it coming from Porsche owners.

Regards,

 

How's it goin

If you own your own company, leasing is an awesome deal as far as making it easy for you to deduct the [monthly] cost of a car.

Personally, I'm not a fan of leasing bc of mileage restrictions and because i become attached to my cars but if youre only going to keep a car for a year or two, the depreciation you will face (and hassle of selling it) and a lease payment are probably around the same.

I attempted to use lease trader when searching for a Boxster a few years ago. They ask a lot of personal information which I for one am not comfortable splashing across the internet - food for thought.

As far as other suggestions - an 04 R32 6-speed is a wonderful substitute for any P-car, you may even wait 3 or 4 years

-Nick

 

I am on my 1st lease from swap a lease and 7th overall. works well for us b.c wifey likes a new car every 2-3 years and we put very little mileage on it. we also never mod these...

The small payments are misleading b.c they never end. there also acquisition and disposition fees

if you ok with no mods (or taking a bath on them) and fixing any small autox mishapp then enjoy your lease

 

Thanks for the information. Like I mentioned, I've never leased before and I'd like to build up my savings for about 2 years before making a major purchase. The reason a lease transfer looks enticing, is from my understanding, a much shorter contract period (I'd be looking for 18-24 months) and taking advantage of someone already putting a down payment on a car to reduce monthly payments. So a lease transfer is just something I'm curious about.

Regarding the architectural field, NJS1987 I just accepted a position with a small design firm (actually start on Monday with WelchArchitecture) so deducting the cost of a car is no longer an option. Again this is just a way to lease a fun car that's pretty cheap (relative term) while I take care of my finances. As a coincedence, I contemplated an R32 when I purchased my ZHP...thanks for the reminder about a good sleeper car.

 

going through swap-a-lease (leasetrader is same idea) was great. found a car with more options then I wanted for less money then I was about to spend with NO acquisition fees. The original lessor put some money down to get the payment low and didnt ask for any of it back and also paid the transfer fee. Win-win for both of us. He wanted out (got a new GL450) and I wanted a sweat deal

 

Good to know it worked out for you. I just wanted some feedback before I give it a shot.
Thanks,