Can You Take Over a Lease?

If you’re keen on the perks of leasing but don’t want to commit to a full lease, then a lease takeover could be a great option for your Harvey automotive upgrade. A car lease takeover is when you take on the remaining portion of another driver’s lease. While this can be a fantastic solution for the short term, there are some things to consider before agreeing to a car lease takeover. Learn more about available car lease takeover deals with the Ray Brandt Kia finance experts below!

How Does a Car Lease Takeover Work?

A car lease takeover works similarly to a new car lease in the sense that you’re not paying to own the vehicle outright. Instead, your money is used to essentially cover the cost of depreciation while you use the vehicle for your Marrero travels. The rate of depreciation often determines how much you’ll pay each month for the vehicle. Under your lease agreement, you’ll generally be restricted to around 1,000 miles a month. However, this can depend on the specifics of the agreement and the habits of the previous driver. 

As with any lease, once the term has ended, you’ll simply return the vehicle to our dealership near New Orleans to make your next upgrade. You may also have the option to buy the car outright if you prefer!

Car Lease Takeover Pros & Cons

Like with any vehicle acquisition method, there are pros and cons of opting for a car lease takeover deal. To help you make the final call on whether or not a car lease takeover is right for you, we’ve listed the major benefits and downsides of taking over a lease here:

Pros: 

• No down payment
• No new-car upfront depreciation and other costs
• 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’re in the market for a temporary vehicle for your Harvey travels, a car lease takeover might be your best bet. While you will skip out on the upfront costs, it’s important to keep in mind that you may be responsible for fees at the close of the lease. If you’d like personalized guidance, visit Ray Brandt Kia to sit down with a financial expert. 

Upgrade Your Ride With Ray Brandt Kia

Whether you’re looking to buy or lease, Ray Brandt Kia has the solutions and savings you need. We make it easier than ever to get behind the wheel of a new ride without busting your budget. If you have any lingering questions about car lease takeover deals, contact us today!