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1st car for 22 y/o gf transferring lease

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Old May 18, 2014 | 07:39 PM
  #1  
fvisa's Avatar
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From: NJ
1st car for 22 y/o gf transferring lease

Scenario
- Live in NJ love to ski.
- I sold 05 wrx for a 2014 mustang GT (almost got an evo X but gf said she would buy a ski car jeep liberty ford escape, random subaru etc). I almost got a really nice 2014 blue evo X but i wanted to try rwd (i can work from home when it snows)
- We plan to move to seattle suburbs in JAN 2015.


Started looking at used awd/4wd cars for her and we came across this.

2013 white evo X gsr with 12k miles
- he said payments are 166$ a month because he put 6k down on the lease.
- lease ends feb 2015 and is for 24k miles (she drives 4 miles to school 3 days a week to observe) 15 cents a mile after
- He put an invidia turbo back exhaust , some intake , and a cobb AP on it
- he put some all seasons on it (i would buy performance snows for it and leave it)
- he wants 2k for it in its stock form he will swap out the parts and we pick up the lease or 3k with the parts (i don't want to go through the effort of swapping a down pipe and selling an exhaust on crags
- he says he wants an s4 which is why he is trying to give up the lease
-the buyout is for 27k.


Questions
1. any problem areas to look for? i was thinking giving him a deposit bringing it to the mitsu dealer he leased it from and paying for a once over for a hey what do i need to do to make sure i don't get fined returning this car.
2. the recaro seats are a little low for my 5'7" gf. whats the safest way to fix this ? i was thinking a driving pillow from amazon so i don't mess with the seat bolts.
3. any reasons this is a terrible idea ? I figured we pay 5,400$ to have an evo X as her dd and our ski car for 20 months vs buying a used jeep or escape for like 8k thats boring as hell. Car has a warranty so all I'm looking at are pads and maybe a clutch
4. Saftey , she drove our rental camaro SS convertible like a granny in chicago, and the only time she punched it in our rental challenger r/t was from 40-70 in cali. Driving this like passive driver the car isn't super dangerous from 2-3k rpms. also it stops well. Any reason this may be a more dangerous car than I am figuring?


Thanks all.
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Old May 18, 2014 | 08:03 PM
  #2  
Ralli04Art's Avatar
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From: Dallas
Whatever his payments are on the evo will mean nothing for you. 99.99% of the time you can't transfer a lease to someone else. What you can do is buy the car from him for the payoff amount in which case you said 27k. So you would be financing the car and financing $27,000 minus whatever money you put down. Your payments won't be anywhere near $160.

Here's some reading material to explain further what all is involved.
http://www.bankrate.com/finance/auto...r-a-lease.aspx

Last edited by Ralli04Art; May 18, 2014 at 08:06 PM.
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Old May 18, 2014 | 08:21 PM
  #3  
fvisa's Avatar
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From: NJ
Originally Posted by Ralli04Art
Whatever his payments are on the evo will mean nothing for you. 99.99% of the time you can't transfer a lease to someone else. What you can do is buy the car from him for the payoff amount in which case you said 27k. So you would be financing the car and financing $27,000 minus whatever money you put down. Your payments won't be anywhere near $160.

Here's some reading material to explain further what all is involved.
http://www.bankrate.com/finance/auto...r-a-lease.aspx
great read thanks so much !
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Old May 19, 2014 | 06:37 AM
  #4  
Verbal21's Avatar
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From: NJ
I was looking at this too but it just seemed like it was more work than the $3k, $166/mo would lead you to believe.
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Old May 19, 2014 | 02:23 PM
  #5  
Ralli04Art's Avatar
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From: Dallas
And if its leased through MMCA they wont allow lease transfers, Only buyout.
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