A car lease takeover allows you to acquire whatever remains of another driver’s lease. You’ll take over the responsibilities and the vehicle, so they can move on to something else. Although there are certain risks involved in taking over a car lease, it could be a great option for the Richfield-area driver who won’t need a vehicle for very long. Find out if it’s right for you with our financing team!
As with a standard lease, you won’t be purchasing the vehicle outright. Instead, you’ll spend a certain amount to use the vehicle for a given duration. The costs of a lease are based on the vehicle’s anticipated value at the end of the leasing term, but with a car lease takeover, you’ll acquire the other driver’s monthly payment as-is.
You’ll also continue to abide by whatever mileage limits and maintenance requirements were written into the lease! If you generally drive less than 1,000 miles per month in St Paul and Minneapolis, you won’t have to worry about any additional fees when you bring the vehicle back to our lease return center.
Finding a great selection of car lease takeover deals is always exciting; however, you need to be certain that you’re making the right choice. Keep the following pros and cons in mind:
Pros:
Cons:
If you’ve compared leasing vs. buying, you should know that most of the trade-offs still apply to a car lease takeover.
If you’d like to learn more about car lease takeovers, don’t hesitate to reach out to our financing department. If you’re still exploring your options, check out our current leasing and financing offers to find out if a new car lease could be right for you. This option might be more accessible than you’d expect, especially if you’re trading in a new vehicle!
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