Assume an existing lease?
I drive between 20,000 and 25,000 miles per year and am considering assuming an exiting lease on a car. One car I am considering is a 2004 Audi A6 4.2 Quattro. The net monthly cost (the current leasee is offering $4,500 cash to assume the lease) of the 14 remaining months is $550. The miles remaining on the lease are 45,000 and the price to purchase at the end of the lease is $23,000. Seems to me to be a no brainer.
My questions are: 1) How do you analyze an assumption of an existing lease? 2) Pros and cons of lease assumption.
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