Get out from under an auto lease

That's what makes assuming a lease attractive: You get the advantage of the original purchaser's down payment without laying out any cash yourself.

With automakers no longer inflating the residual values of their newly leased vehicles, leasing isn't as good a deal as it once was. As a result, more people may be looking to get out of their leases early.

That can make for great deals for careful "lease buyers."

Still, when assuming someone else's lease, it's important to read the fine print. Some points to consider:

• Make sure the mileage on the leased car isn't so high that you'll exceed the maximum allowable mileage before the term expires. You'll pay for every mile you drive after that. Usually lessees pay about 35 cents for each mile they travel over the limit.

• Know when the leased vehicle's original warranty expires. One of the primary advantages of leasing is that you know up front how much you'll pay for the life of the lease. The warranty helps protect you from unexpected repair bills.

• Find out about any "disposition fee." With many leases, this is a fee you will have to pay just to walk away from the car at the end of the term.

• Verify that the gap insurance transfers along with the lease. This insurance covers the difference between what the car is worth and what you've paid if the car is stolen or totalled. Gap insurance is often rolled into the lease payments. If not, make sure you're covered.

• Negotiate who will pay the lease-transfer fee to the leasing company. Usually the lease seller pays this fee, but if the lease is a really good deal, it may be worthwhile for the buyer to pick it up.

• Determine who will pay for any wear-and-tear charges on the car when the lease expires. These often fall into the buyer's lap, but can be negotiated with the seller.

• Negotiate the cost of shipping the leased vehicle to you. The costs to ship a car cross-country can reach $1,000. Buyers and sellers may choose to split this cost down the middle.

For a fee, a handful of online firms now offer advertising for lease sellers and help in preparing documents for a lease transfer. Services sometime include referrals for auto-inspection services and shipping, though costs of those services are not covered.

Company: Ezoutezin.com

Cost for lease sellers: $59.95 fee for 60-day ad, plus $89-$289 "processing" fee, depending on length of lease term remaining.

Cost for lease buyers: $24 application fee, credited to buyer upon assumption of lease (buyers are credited an additional $10 for each referral they make that leads to an application).

Company: LeaseTrader.com

Cost for lease sellers:

$39.95 advertising fee (per month).

Cost for lease buyers: $24.95 application fee; an additional transfer fee of $149 does not cover any additional fees charged by lease-financing Company.

Company: Leasetrading.com

Cost for lease sellers: $39.95 advertising fee deductible from a commission of 5 percent of remaining lease payments due when buyer passes credit application.

Cost for lease buyers: No fee. Buyer must negotiate with seller, however, to cover credit application and lease-transfer fees.

Company: Swapalease.com

Cost for lease sellers: $49.95 for 45-day ad (renewable for unlimited time for additional $24.95); $95 "success fee" due when transfer is initiated.

Cost for lease buyers: $24.95 registration fee (covers all processing).

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