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Can You Take Over a Lease?

Woman shaking mans hand over a car contract clipboard with car keys
 

Considering a short-term vehicle solution? Lease takeovers could be a great option. Taking over someone else’s lease lets you use their car for the remaining term of the agreement, which can be perfect for getting around Glendale. But before you dive in, it’s important to understand how it works. Let’s explore the process and look at the pros and cons. And if you need help with takeover deals, our finance team at INFINITI of Downtown LA is here to guide you. 

 

How Does a Car Lease Takeover Work? 

A lease takeover mirrors the structure of a conventional car lease, wherein ownership isn’t transferred outright. Instead, it grants you the opportunity to utilize a vehicle for a predetermined period or mileage. The duration of this arrangement is contingent upon the usage by the prior lessee. Monthly payments are calculated based on the anticipated depreciation of the vehicle by the lease end, augmented by the applicable interest rate. Upon the lease expiration, you have the option to return the vehicle to a local Downey dealership or pursue its outright purchase.

Car Lease Takeover Pros & Cons

As with any financial decision, a lease takeover presents its share of advantages and drawbacks:

Pros: 

  • Absence of a down payment requirement
  • Mitigation of initial depreciation and associated expenses inherent with new-car purchases
  • Likely coverage under warranty
  • Potential cash incentives offered by the original leaseholder

Cons: 

  • Incurrence of transfer fees
  • Inherited monthly payment obligations
  • Potential wear and tear from the previous lessee
  • Adherence to mileage restrictions

While a lease takeover can serve as a cost-effective solution for your Van Nuys commutes and weekend getaways, it’s imperative to remain cognizant of potential fees down the line. To navigate your options effectively and explore enticing car lease takeover deals, consider consulting with INFINITI of Downtown LA today.

Explore Car Lease Takeover Deals at INFINITI of Downtown LA 

At INFINITI of Downtown LA in Los Angeles, we’re dedicated to facilitating solutions tailored to your budget and requirements, including advantageous car lease takeover deals. Whether you opt to acquire or assume a lease, our team stands ready to address your questions and guide you through the process. Reach out to us either in person at our location or through our online channels to embark on your automotive journey with confidence.

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