Can You Take Over a Lease?

Lease Agreement
 

If you’re potentially into the idea of a new vehicle lease, but are somewhat turned away by the idea of signing on to a full term lease, then a lease takeover could be a great option. Car lease takeover deals aren’t terribly hard to find in the Granbury area, especially when working with the automotive market experts at Bayer Motor Company. 

What is a car lease takeover? How does a car lease takeover work? Is a car lease takeover a good idea for your situation? Keep reading for these answers and more – courtesy of the team at Bayer Motor Company. Be sure to contact us online if you have any questions, we’re here to help!

 

 

How Does a Car Lease Takeover Work? 

In truth, a lease takeover works pretty similarly to signing a lease on a new car. As you know, you’re not buying the vehicle outright – instead, you’re essentially paying to drive the vehicle for a certain amount of time or miles. Typically, mileage restrictions sit around 1,000 miles per month as a cap. 

Monthly lease payments are determined by the estimated depreciation of the vehicle at the end of the lease term, as well as the interest rates. Just like a regular lease, a vehicle procured through a lease takeover allows you to either return the vehicle or buy it – depending on which applies to your situation.

Car Lease Takeover Pros & Cons

Just like with any method of car buying or leasing, there are benefits and drawbacks to taking over someone else’s car lease. In an effort to help you decide which works best for you, a regular lease, financing, or car lease takeover, we’ve gathered some pros and cons of the lease takeover method below:

Pros: 

  • There’s no down payment to make
  • There’s no new-car upfront depreciation
  • There’s often less fees associated with lease takeovers
  • The vehicle is likely to be still under warranty
  • There could be cash incentives from the original lease

Cons: 

  • Lease transfer fees
  • You’ll inherit the monthly payment as it is
  • Possible wear and tear from the previous owner
  • Probably mileage restrictions

Essentially, as you can see, if you’re looking for something temporary to get you around the Brownwood area, then a car lease takeover could be an excellent option. However, as you read in the Cons section, there’s the possibility of increased cost later on. Contact the expert finance team at Bayer Motor Company for more information and help deciding which is best for you! They can even point you in the direction of money saving car lease takeover deals!

Great Lease Deals at Bayer Motor Company!

When it comes to buying and selling cars in Comanche, our team of experts knows that the ultimate factor in earning and keeping your business is providing you with not only a trust building experience, but a money saving one as well. Make the short trip from Stephenville to our beautiful showroom and see what everyone’s talking about! Remember to keep an eye out on our money saving New Car Specials page for especially great deals!

 

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