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Can You Take Over a Lease?

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

 

Ever wonder if you can sublet your friend’s auto lease? This is called a car lease takeover. A lease takeover is an affordable way to take on a small portion of someone else’s lease. If you’re not read to commit to a full lease, and you like to try a few vehicles out for your Caledon commute, lease takeovers are a great option. In fact, many dealers even offer car lease takeover deals to help cut costs even further. Read on to learn more about everything to know about taking over a lease. Then, contact Mercedes-Benz Brampton for further assistance.

How Car Lease Takeovers Work

A lease takeover is when you take on the remaining portion of a lease term that hasn’t ended yet but was initiated by another driver. For instance, if your friend has their heart set on a new car, but they’re obligated to an auto lease, and you happen to love the vehicle they’re currently driving, you can negotiate with us to take on the remainder of the lease. In some cases, you may even have the opportunity to pursue car lease takeover deals, which only sweeten the deal. A car lease takeover can be an exceptional way to save money because you’re only paying for the estimated amount of depreciation on the remainder of the lease term.

Pros & Cons of a Car Lease Takeover

If you’re considering a lease takeover near Orangeville, take a moment to learn more about the benefits and drawbacks of this unique leasing strategy:

Pros: 

  • No new-car upfront depreciation and other costs
  • No down payment
  • Possible cash incentives from the original lease
  • Still under warranty

Cons: 

  • The original monthly payment of the original lease stands
  • Transfer fees
  • Mileage restrictions
  • Possible wear and tear

Have Questions About Car Lease Takeovers?

If you’re considering a lease takeover near Georgetown, give Mercedes-Benz Brampton a call at (647)-360-3087. We’ll let you know if we have any car lease takeover deals on offer, and walk you through the steps of the process. In the meantime, take a moment to explore our car buying tips for other helpful reads on finance and insurance, including our overview of how car financing works and determining good interest rates for a loan given your credit score!

 

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