If you're considering leasing vs buying a car and have started your shopping process, you can definitely find that leasing a car isn't as advantageous as it once was. Many manufacturers have changed gears a little and are offering better rates for buying vs leasing a car. However, should you be set on leasing you have the option and that of which taking over someone's current lease.

You can find some great lease payments out there and on numerous types of vehicles. It is a matter of knowing what it's you want the vehicle that will be practical and fit within your lifestyle as well as budget. So, the big question is where do you find those who find themselves leasing and looking for someone like YOU who is will to take over a lease.

There are several sources you can check out… places like:

1. Craigslist

2. Kijiji

3. maybe AutoTrader

The one main source to become first though is, Lease Busters. Lease Busters have postings those of you that are wanting to find someone to assume their lease. It costs these people money to post their vehicles, so you know they are serious. You can search through the site and find the vehicles that suit your needs. The vehicle details are there including, how the vehicle is equipped, current kms on the vehicle as well as the allotted kms left with respect to the terms of the lease. The lease payment is there before and after taxes and sometimes there is mention of a cash incentive for assuming the lease from the customer.

Upon having gone through your searches via Lease Busters, call and ensure the vehicle is still available and make arrangements with the client to review the car and decide from there whether it is going to chic and fit within your lifestyle. Bear in mind when you are interested in a vehicle about location, regarding having the ability to examine the vehicle and of course when the paperwork should be completed at the dealership. When you have found your vehicle, then you'll have to call the dealership who has the lease and make arrangements with them for the credit approval. They will explain what their process is and what they require. There exists a lease transfer fee and now and again the dealership will also charge an additional transfer fee. It depends on the brand and the policy within the dealership itself. Learning work out who is paying these fees with the person whose lease you are assuming.

Once your credit application has been approved it may need a few days for the dealership to prepare the paperwork. Once they have it the bank calling you and the current leasing customer to make arrangements to do the transfer paperwork.

How to get over a lease is easy. Make sure however, to know what the additional fees are and what you will be responsible for before you enter into an agreement with anyone, so there isn't any misunderstanding.

Dennise Ryder is the Business Manager at Volvo of Durham in Pickering, Ontario. Have questions about cars in Canada for Sale? Contact her and have your questions answered!

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