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Should I take over a lease?

ttherouxttheroux Member Posts: 1
edited January 2015 in Honda
My father is looking to get rid of his 2014 Honda Accord LX-S coupe because he leased a new Lexus GS350 and can't justify keeping a 3rd car when he is paying for the miles on the Lexus. I can take over the lease for about $215/mo. It is a 3 year lease with 12k/year and he is one year in with only 6k on the car. He is meticulous with cars and it is basically new. I drive about 18k/yr, so I would be over about 6 k at the end of the lease. I might consider buying the car at the end to avoid paying for the overage charges. The buy out is a little over $14k. Is this a sensible decision?

My current car is a 2007 Mazda 6 in very good shape, but it does need a pre-cat which are about $1000.00 to replace. I am worried that I am at the tipping point with repairs.
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    kyfdxkyfdx Moderator Posts: 243,131
    ttheroux said:

    My father is looking to get rid of his 2014 Honda Accord LX-S coupe because he leased a new Lexus GS350 and can't justify keeping a 3rd car when he is paying for the miles on the Lexus. I can take over the lease for about $215/mo. It is a 3 year lease with 12k/year and he is one year in with only 6k on the car. He is meticulous with cars and it is basically new. I drive about 18k/yr, so I would be over about 6 k at the end of the lease. I might consider buying the car at the end to avoid paying for the overage charges. The buy out is a little over $14k. Is this a sensible decision?

    My current car is a 2007 Mazda 6 in very good shape, but it does need a pre-cat which are about $1000.00 to replace. I am worried that I am at the tipping point with repairs.


    Last I heard, Honda doesn't allow lease assumptions. So, if you do this, it would have to remain in his name and under his insurance.. That could be an issue.

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