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LEASE BUSTERS
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About LeaseBusters
In 1990 the founders of the organization came up with a concept that exposed lease-take-overs to the vehicle leasing marketplace of Ontario. By exposing existing vehicle leases to the marketplace, a lease-take-over vehicle became a viable alternative to the leasing customer (buyer) and at the same time, ‘liberated’ the original customer from their vehicle and contractual obligations.
The original customer was then able to purchase or lease another vehicle which was just the beginning of the "win-win" Leasebusters formula.
A lease assumption allows one person to assume an in-process lease from another person.For example, if your neighbor had 18 months left on his car lease, and you wanted to take over his lease, you would simply assume his lease and start making the payments each month for the remaining 18 months.
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At the end of the term you would turn the car into your leasing company just as you would if you had leased the vehicle new. The process itself is relatively easy to understand and can provide a great deal of benefit and financial incentive if you use a lease assumption to your advantage.
People want to get off from an automobile lease for many reason. And the most common one is they have their eyes on a new model. On the other hand, to take over someone lease you need to be very careful. It could be a good deal if the original owner got the lease at a good leasing rate and with downpayment.
When I looked at leasebusters, a lot of the leases were more expensive to take over than I could get from the dealership on a new car. What a scam! One of the cars was at the same rate that I had seen in the newspaper with zero down, and the guy wanted someone to pay him to take over the lease!
As someone who leases a car, or consider to get into auto leasing, you may have heard the term ”lease busters“. LeaseBusters is a concept growing in popularity among individuals who lease a car that offers these individuals a means to terminate their lease early, with no penalties, or otherwise known as lease busters.
Lease Busters in Canada is a lease assumption process in that individuals that allows individuals who lease a car the option to terminate the lease through a lease assumption process, and transfer a car lease to another individual who takes over the car lease for a short term lease agreement.
Log in to the lease busters website and see what other people are asking for similar vehicles. Are their vehicles in better or worse condition than yours? If you are in a hurry to sell, say so and drop your price to reflect that. The average consumer will ignore a difference in price of 3 to 5 percent, but will jump for a 10 percent difference between your price and the competition.
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