Car Lease Takeover Deals: Can You Takeover A Leased Car?

Car Lease Takeover Deals: Can You Takeover A Leased Car?

Leasing a car is a common way that car shoppers in Lehi drive home in new cars for a lower monthly payment. When you lease a new car, you’re paying each month to drive the vehicle for a limited amount of time and miles. Once the lease ends, you can return the vehicle and lease another one if you like.

But a frequent question that our specialists at Orem Toyota often hear from our customers is, “can you do a lease takeover?” Yes, you can! With car lease takeover deals, you assume the remaining lease from another driver. Learn about Toyota car lease takeover options, lease and finance options, and more with our finance center!

How Do Car Lease Takeover Deals Work?

A car lease takeover isn’t that much different from a regular car lease deal. You’re restricted to a certain amount of miles a month because the value of the car—and your monthly payment amount—is calculated based on its depreciation in addition to the interest rates applied to it. The same goes for car lease takeover deals. Our team is happy to tell you more about a car lease takeover at our Draper-area dealership!

What Are The Pros and Cons Of Car Lease Takeover Deals?

There are some benefits and cons that you should know before signing off on a lease takeover deal. These pros and cons attract and detract certain Provo car shoppers, depending on what they’re looking for in a car lease takeover plan. Check out the pros and cons below:

Lease Takeover Pros

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

Lease Takeover Cons

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

Lease a New Toyota Vehicle at Orem Toyota

If you like what you’ve read so far about lease takeover deals or leasing new vehicles, visit us at our Orem dealership to discover your options today. Contact us for more information!