Can you take over a car lease? It's a question we get asked commonly here at the Kolosso CDJR finance center. And the answer is "Yes!" If you're looking for a great deal on a car lease in Kaukauna or Waupaca but you don't want to pay for a full lease, then taking on the remainder of someone else's lease could be a good short-term option. That said, there are some things you should consider when thinking about if a car lease takeover is right for you. Learn more below with Kolosso CDJR, or contact us anytime!

How Do Car Lease Takeovers Work? 

Car lease takeover deals work similarly to standard car leases. You don't own the vehicle you takeover after the lease agreement ends. You're also usually restricted to driving the vehicle for a certain period of time and/or mileage limit. Often, this is 1,000 miles per month, but it will often depend on how much the previous lessee drove around Manitowoc and Green Bay. 

Monthly lease payments for car lease takeovers typically are determined by the estimated depreciation of the vehicle at the end of the lease term plus applicable interest rates. If you do want to buy out the leased vehicle at the end of the lease term, that is often an option with lease takeovers, otherwise you'll return the vehicle as is normally done on a vehicle lease's termination.

Advantages and Disadvantages of Car Lease Takeovers 

There are both benefits and drawbacks to car leasing, and the same is true for a car lease takeover. When you opt for a car lease takeover, here are the pros and cons to consider:

Advantages to Car Lease Takeovers: 

  • There's no down payment required
  • There's no new-car upfront depreciation and other costs
  • The vehicle will likely still be under warranty
  • Cash incentives can from the original lease may transfer to you

Disadvantages to Car Lease Takeovers: 

  • You may have to pay transfer fees
  • You will inherit the monthly payment as-is
  • There could be vehicle wear and tear from the previous owner
  • There will likely be mileage restrictions

Overall, for Neenah and Green Bay area drivers looking for a convenient temporary solution to their transportation needs, car lease takeover deals can provide a great solution for not much initial investment and affordable monthly payments!

Lease Your Next Car with Kolosso CDJR!

If you've decided on a car lease takeover from someone you know who got their vehicle from us, we'd be happy to assist you in negotiating that process. Otherwise, we invite you to check out our current lease incentives or apply for financing now to get approved for a new lease. Not sure what to do? Contact our finance professionals to see if a new lease or lease takeover is better for your Oshkosh driving needs.