Lease assumptions


My wife leased a Buick Lacrosse Super (yeah, the one with eight cylinders) in March for three years. She now realizes that it’s a cold world out there and that car salesmen are not your friend and that gas is $4.00 a gallon and going higher.

To avoid the early lease termination whipping from Buick, I’m considering a lease assumption, although I realize this is dangerous territory if the “assumer” heads south. My question is whether lease assumption companies such as SwapaLease and LeaseTrader are legitimate alternatives. Do they do as they advertise: screen their buyers for deadbeats and credit risks?

And, yes, I will accompany my wife when she next goes forth to secure transportation.



(1) Legitimate lease assumptions cannot take place without the blessings of the leasing or finance company holding the title.
(2) Most leasing companies will release the seller 100% of all liabilities while transferring 100% the obligation to the buyer,so a buyer’s default is his own issue.

(3) Lease assumption companies do not have the authority to accept or reject on behalf of finance companies, finance companies make their own decisions which make the screening by lease assumption companies an extra layer of bureaucracy with limited value at best.


Laws may also vary from state to state, so I’d want to speak with an attorney before moving forth.


I would keep it to the end of the lease, and try to learn how to drive in such a way that saves gas. This cars MPG is 16 city 26 Hwy which is not terrible. The risk versus savings IMHO is not worth it.