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Can You Take Over a Lease?

Woman shaking mans hand over a car contract clipboard with car keys

There are times when the idea of leasing a vehicle without committing to a full lease is a good idea. A lease takeover might be a great option if this sounds like you. A car lease takeover is when a GARDEN GROVE driver takes over the rest of another driver’s lease. While this may be a good temporary option, it’s wise to consider some things before agreeing to a lease takeover. Learn the basics of a car lease takeover below, and then contact us at Garden Grove Nissan for amazing car lease takeover deals!

How Does a Lease Takeover Work?

A lease takeover is similar to a standard lease on a new car because you’re not buying the vehicle. It’s more like a long-term rental. Typically, you’re limited to about 1,000 miles a month, so it’s crucial to find out how many miles the previous driver drove the vehicle before you, so you don’t get stuck with overage fees. The amount of the lease payments is determined by the estimated depreciation of the car at the end of the lease term, plus interest. At the end of the lease term, you can return the car to your local Santa Ana dealership or buy it outright.

Car Lease Takeover Pros & Cons

There are advantages and disadvantages to doing a lease takeover in Anaheim: Check them out below:

Pros of a Car Lease Takeover:

  • It’s likely still under warranty
  • Zero down payment
  • Possible cash incentives from the original lease
  • No new-car upfront depreciation

Cons of a Car Lease Takeover:

  • You’ll need to pay transfer fees
  • You can’t negotiate the monthly payment
  • Possible damage from the previous owner that you could be financially responsible for
  • Mileage restrictions and the risk of overage fees

If you’re looking for a temporary ride for your Orange County commute, then a lease takeover may be a great option. But, even though you don’t pay initial costs upfront, you could end up paying other fees at the end of the lease. Always review the paperwork carefully. To explore car lease takeover deals, get in touch with us at Garden Grove Nissan today.

Lease a New Nissan at Garden Grove Nissan Today

Are you ready to learn about some great car lease takeover deals and hear about your financing options? If so, chat with the Garden Grove Nissan finance team or contact us online. You should also check out our new vehicle specials. We’re ready to assist you today!

 

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