Can You Take Over a Car Lease?

Man and Woman Signing Contract
 

Do you want a car without the long-term commitment in Stephenville? A car lease takeover might be your perfect solution. What is a lease takeover anyway? A car lease takeover means that you take over the remaining lease contract from another driverusually only a few months. However, there are some things to consider before you sign that dotted line in Brownwood. Get more financing tips from our experts, and be sure to swing by the Bayer Auto Group dealership in Comanche to chat.

 

 

How Does a Car Lease Takeover Work? 

Like a standard lease, a lease takeover allows you to drive a specific car for a period of time without the commitment of financing. The monthly lease payments are determined by the estimated depreciation of the vehicle at the end of the lease term, plus the interest rate. The length of your lease will depend on how long the original driver had the vehicle. You’ll continue the payments just like the original driver, and when your contract is over, return the vehicle to the dealership. If you want to stick with the car a little longer, consider renewing your lease or switching to a financing option.

Car Lease Takeover Pros & Cons

Why should you consider a lease takeover? Why should you reconsider a lease takeover? There are definite pros and cons to a car lease takeover, but we’re here to help you make the best decision for your driving needs

Pros: 

  • No down payment
  • No upfront depreciation like a new car
  • Likely still under warranty
  • Possible cash incentives from the original lease

Cons: 

  • Transfer fees
  • You inherit the monthly payment as it is
  • Possible wear and tear from the previous owner
  • Mileage restrictions

If you want something short-term and flexible, a lease takeover might be a convenient option on Abilene. But, you’re putting trust in the original driver. If they exceeded mileage limits or damaged the car in some way, you’ll be the one paying the fees. 

Lease a New Car with Bayer Auto Group 

Whether you want to discuss car lease takeover deals or start a new lease of your own, contact us at Bayer Auto Group with any questions. Our finance team can help you determine the best path forward for you, and we can let you know of any incentives or offers currently available in Comanche.

 

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