Can You Take Over a Lease?

If you want to drive a new car in Georgetown but aren’t ready to buy, consider leasing. Plenty of drivers throughout the region prefer to lease new vehicles. If you are wondering whether you can take over a lease, you are not alone! Drivers throughout Frankfort and the surrounding areas regularly ask our finance team about lease takeovers. Learn how this process works, as well as the benefits of leasing a car. Contact Don Franklin Lexington Buick GMC with any questions. Our dealership in Lexington offers a diverse selection of vehicles available for lease. 

How Does a Car Lease Takeover Work? 

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 specified number of miles or a set amount of 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 dealership, or you can buy it outright. 

Car Lease Takeover Pros & Cons

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: 

• 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 looking for something temporary for your Paris 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 Don Franklin Lexington Buick GMC today.

Lease a New Car with Don Franklin Lexington Buick GMC 

Can you take over a lease? Absolutely! And as you can see, there are numerous benefits to leasing a car. Call (859) 554-3872 or contact us online today to make an appointment. We look forward to working with you! For helpful information about our services, learn about Buick GAP Coverage and GMC Tire and Wheel Protection.