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Can You Take Over a Lease?

2021 Jeep Wrangler

Interested in the idea of leasing a vehicle but don’t want to commit to a full lease? A car lease takeover might be your next best option! A lease takeover is when the remainder of another Devine driver’s lease is transferred to you. 

This is a great short-term option if you’re just looking to quickly get behind the wheel of one of our Chrysler, Dodge, Jeep, Ram cars, however, there are important elements to consider when doing a car lease takeover. Find out more about how to take over a lease and what car lease takeover deals are available at Brown Dodge Chrysler Jeep Ram with our finance experts below! 

How to Do a Car Lease Takeover

A lease takeover functions more or less like any lease on a new vehicle, in that you’re not directly buying the vehicle. You’re instead paying to drive the vehicle for an agreed-upon amount of time or miles. At some dealerships, you’re restricted to about 1,000 miles per month, however, these restrictions can change based on previous ownership history. 

Monthly lease payments are calculated by estimating the depreciation of the vehicle at the end of the lease term and factoring in interest rates. A lease takeover is similar to a normal lease because you can return your vehicle to a dealership like Brown Dodge Chrysler Jeep Ram to end the lease term or buy the vehicle outright. 

Car Lease Takeover: Advantages & Disadvantages

When it comes to taking over a lease, there are pros and cons. Not sure if a car lease takeover is the best option for you financially? Take a look at the benefits and costs of a lease takeover below before committing to a decision: 

Advantages: 

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

Disadvantages: 

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

Takeover a Car Lease with the Help of Brown Dodge Chrysler Jeep Ram 

Here at Brown Dodge Chrysler Jeep Ram, we’re committed to helping you get the best car lease takeover deals, as well as offering you plenty of car buying tips to make sure you save as much money as possible! Contact us online for more information about car financing, buying, and leasing.

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