Scam or idiot?

"Funktheduck" (funktheduck) 01/23/2018 at 19:24 • Filed to: CL

1

22

I posted this in the comments of Tom’s article today since it was vaguely related. I can’t figure out if the CL listing is a scam or if the person listing is an idiot who hasn’t thought of how things could go wrong.

PS9 > Funktheduck 01/23/2018 at 19:31

5

“I will keep the car in my name” no the fuck you won’t. Not with that $3k up front cost and $750/month after. Fuck that.

WilliamsSW > Funktheduck 01/23/2018 at 19:32

1

So, I give you monies and you keep the car in your name?

Where do I sign up?

PS9 > WilliamsSW 01/23/2018 at 19:34

2

This seems like a poorly thought out way to try and scam someone else into paying for the car while they keep it somehow.

boredalways > Funktheduck 01/23/2018 at 19:36

1

The answer is obviously both.

Steve in Manhattan > Funktheduck 01/23/2018 at 19:37

2

The lawyer part of my brain says that the lease cannot be assigned, or is assignable only with the consent of the lender. And the car is not in the “owner’s” name - it belongs to a bank or a leasing company. I wonder if you could even insure it in your name?

merged-5876237249235911857-hrw8uc > Funktheduck 01/23/2018 at 19:37

1

There are actual sites to swap your leased car, but this is very poorly executed.

Frenchlicker > Steve in Manhattan 01/23/2018 at 19:59

2

The insurance I deal with allows you to insure any car as long as you have the vin. I’m assuming for cases like mine where we all live in the same house but I insure cars not in my name.

Wrong Wheel Drive (41%) > Funktheduck 01/23/2018 at 20:07

2

I would side with stupid. If it were a scam, then how would they keep getting the $750 every month? If anything the “seller” would be much more at risk since they are liable for many things that happens in the car by just giving it to some stranger illegally. Say the car runs over a pedestrian in an intersection and a traffic camera gets a picture of the plate but no driver. Guess who the first person getting arrested is? Its not like they can report it stolen or legally sold. So yes, very stupid.

TheRealBicycleBuck > Steve in Manhattan 01/23/2018 at 20:34

1

Our Outback is technically owned by my mom’s trust and the insurance is still in her name. I just make sure the bill I paid. Once her house sells, we’ll leave it in the trust, but it will go on our insurance. I already confirmed that all my insurance company needs is a VIN.

Steve in Manhattan > TheRealBicycleBuck 01/23/2018 at 21:16

1

As long as the policy covers anyone driving the car, it will work.

fintail > Funktheduck 01/23/2018 at 21:31

2

Why not both?

Sport package car with stand up hood star makes me twitch.

V12 Jake- Hittin' Switches > Steve in Manhattan 01/23/2018 at 21:36

1

This is correct.

AMGtech - now with more recalls! > Funktheduck 01/23/2018 at 21:42

1

This just sounds like a really shitty and stupid version of Turo.

WilliamsSW > PS9 01/23/2018 at 21:54

2

To be fair it’s so half baked that anyone with an IQ over 60 can see through it.

So anyone who *does* respond basically has SUCKER tattooed on their forehead.

pjhusa > merged-5876237249235911857-hrw8uc 01/23/2018 at 22:46

0

Exactly. Not a new concept, or a shady one for that matter. Just really poorly executed here, as you’ve said.

pjhusa > Funktheduck 01/23/2018 at 22:56

0

Yes, the lease can legally be transferred without issue. However, as is the case with Mercedes-Benz, the current owner probably wants to avoid the lease transfer fee of around $500 or so. However, what seems shady is how he/she still wants the down payment from the person who will take it over; in that case, might as well expect the potential customer to pay the transfer fee, right?

Still, the fact that this is on Craigslist renders the execution even more poor. For this matter, I’d stick to sites made just for the lease-swapping purpose, such as Swapalease. Not only that, but people using Swapalease often throw in extra incentives to sweeten the deal.

In the end, none of this matters anyway. The deal sucks. At an effective payment of $810 a month due to the down payment, if not more (presuming 36 months right now; it can be higher if 24 months), for a ~$60,000 car, it’s far from the “1% rule” (basically, the lesser should be paying 1% or less of the MSRP, in this case $600, per month, before down payment—that of which should be avoided regardless).

And... yeah, that turned into a leasing lesson... oh well.

Funktheduck > pjhusa 01/23/2018 at 23:52

1

I also wonder if the lease payment is less than what the CL listing is and they’re trying to pocket extra cash

Steve in Manhattan > V12 Jake- Hittin' Switches 01/24/2018 at 02:40

0

My lawyer brain (somehow located below the reptilian part that keeps me breathing) always looks out for uncovered liability. Let someone else pay.

TheRealBicycleBuck > Steve in Manhattan 01/24/2018 at 07:58

0

That’s the trick these days. If you have a named-driver policy, it will cover the drivers listed on the policy, it should cover anyone driving the car (although it may act as secondary insurance if the driver has other primary coverage), but it will not cover members of your household who are not listed on the policy as a named driver. In our case, once the Outback is listed as a vehicle in our household, our daughter has to be listed as a secondary named driver on one of the vehicles. We also have to guarantee that she will not be driving my WRX unless we are willing to pay a lot more for having a teenager listed on a performance car.

pjhusa > Funktheduck 01/24/2018 at 11:02

1

Perhaps. But many people also get screwed in these types of luxury car leases. There are people leasing $60,000 SQ5s for almost $1,000 a month, after all. And I’ve seen a GLE lease for $888 a month with a staggering $20,000 down.

NojustNo > Funktheduck 01/26/2018 at 21:10

1

Its a FOR SALE category . posting leases draws a flag on the ad from me everytime.

Is it that hard to post the price to buy it in the price box and then mention the lease terms in the ad?

NKato > Funktheduck 02/26/2018 at 22:38

0

Yeah, this guy’s scamming. Stick the cops on him.