Can You Take Over a Lease?
If you like the idea of leasing a vehicle but don’t want to commit to a full lease, then a lease takeover could be a great option. A car lease takeover is when you take on the remainder of another driver’s lease. While this could be a good temporary option if you’re just looking for a car to take around Fort Worth, there are some things that you should consider before you decide to do a lease takeover. Learn the basics of taking over a lease with the finance team at Karl Klement Ford.
How Does a Car Lease Takeover Work?
Car Lease Takeover Pros & Cons
- No down payment
- No new-car upfront depreciation and other costs
- Likely still under warranty
- Possible cash incentives from the original lease
- Transfer fees
- You inherit the monthly payment as it is
- Possible wear and tear from the previous owner
- Mileage restrictions