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Old 12-14-2006, 10:21 AM
mshalen mshalen is offline
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Join Date: Dec 2004
Location: Moving to Chicago
Posts: 881
Default 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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