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Residual (archive)

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Posted by Paul on April 23, 1999 at 14:22:19:

In Reply to: READ YOUR LEASE!!! posted by DNF on April 22, 1999 at 21:56:25:

: : I never leased a car so excuse me if this is a dumb question, let's say if the lease is 4 yrs, and I wanna get out of it on the 2nd yr, can I ask someone to take over my lease? in order words, if the other person is willing to pay $650/month for me, can he just take over my lease?

: : You should have a residual amount that needs to be paid (if it is an open end lease) In which case you can just sell the car and pay your residual, plus the remaining payments on the lease. It works out just like selling a car that you have a bank note on. I am looking to buy an M3, so if you have an open end lease, feel free to e-mail me and if I don't buy it, maybe I'll be of some assistance with your lease options. If it is a closed-end lease, your options are considerably more limited.
Paul in Arkansas

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