Jelsoft Enterprise does NOT allow sub-licensing for vBulletin license. While someone leasing you a license are violating the license agreement and can result in license being terminated, it is more likely the case where they will give you an illegal version of the software and result you getting in trouble with the anti-piracy team.
Please note that leased license CANNOT be transfered.
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I have an Owned vBulletin License available for $120 (Normally $160 when bought from vBulletin.com directly). Has one full year of support and upgrades and can be transferred to your account. A little more than your budget but you are sure it can be transferred unlike buying Leased and you have much time for support and upgrades.