What is a car lease takeover? It’s actually quite simple. A car lease takeover lets you assume the remainder of another driver’s lease. This provides you with the ability to switch out your vehicles more often, but it’s important to be aware of a few things before making the commitment to take over a car lease. In our overview below, we give you all the information you need to know about this process. Once you’re ready, feel free to ask us about our car lease takeover deals! We look forward to helping you get back out onto the Florence roads in a new-to-you car.
A lease takeover works much like a lease on a new car in that you’re not buying the vehicle outright. It allows you to drive a new vehicle for a certain amount of miles, or time. How long? That will depend largely on how much the previous driver used it. Monthly lease payments are determined by the estimated depreciation of the vehicle at the end of the lease term, plus the interest rate. Once the lease is up, simply return the vehicle to your local Sumter dealership or you can buy it outright.
As you might expect, there are benefits and drawbacks to taking over a car lease. Contemplate the following pros and cons as you contemplate how a lease takeover might work for you:
Pros:
Cons:
If you’re looking for something temporary for your Marion commutes and weekend travels, then a car lease takeover can save you money. However, even though you don’t pay initial costs upfront, you might end up paying other fees later on. To help you decide what options are available and explore some car lease takeover deals, visit BMW of Florence today.
Don’t let your Darlington drives become mundane and boring. Browse our new vehicle inventory to find a new model that checks off all of your boxes. Then, apply for financing online or pop into our finance center to discuss your purchase options. We’re here to help you learn more about what a car lease takeover means so feel free to contact us with any questions anytime.
