What is a Car Lease Takeover?

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

 

Whether you are looking for a short term vehicle or you’re simply not ready to be responsible for a full-time car lease, a car lease takeover could be the right option for you. What is a lease takeover though? How does it work? Green Dodge is here to help you understand how to take over the remainder of another driver’s lease. While this temporary solution may be ideal for some drivers around Chatham and Rochester, there are a few factors to consider before choosing a car lease takeover. The finance department at Green Dodge has the details, which you can contact if you have any questions about the process. 

The Lease Takeover Process 

Just like with a new car lease, when you opt for a car lease takeover, you are not buying the car outright. With a lease, you pay to drive the vehicle for a certain amount of time or miles. In many cases with a lease takeover, you are limited to driving approximately 1,000 miles a month, as mileage limits still apply. Keep in mind that the amount you are allowed to drive with a lease takeover depends on how much the previous driver drove the vehicle before you. As far as the monthly payments go, the amount is determined by the estimated depreciation of the vehicle at the end of the lease term plus the interest rates. When the terms of the lease are complete, all you have to do is bring the vehicle back to the dealership, as you would with a new car lease. 

Car Lease Takeover: Advantages and Disadvantages 

Not sure whether a car lease takeover is the best option for you? Below, we have compiled a list of pros and cons to help you make a more informed decision. 

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

Along with available car lease takeover deals, this may be a convenient and affordable option for some Decatur drivers. If you are interested in a car lease takeover, we would be more than happy to discuss the option further with you. 

Lease a Vehicle with Green Dodge

If you’re ready to take over the lease of another driver, then let the team at Green Dodge not only take care of all of your paperwork, but also take care of you by making sure that you’re taking home the right vehicle that fits your needs. From leasing to financing a new car, our finance department knows how to handle just about everything that you need!

More from Green Dodge

  • Step Into the 2022 Dodge Durango SRT® Interior

      Considering the 2022 Dodge Durango as your next Chatham SUV? There are seven well-equipped trim levels available for the new Durango, with the SRT® 392 model sitting at the top of the lineup. SRT® stands for ‘Street & Racing Technology,’ so it should come as no surprise that the Dodge Durango SRT® interior is…

  • 2022 Dodge Challenger Colors

      Dodge has always had a reputation for blowing away Chatham drivers when it comes to bold styles and powerful performance and the 2022 Dodge Challenger is no different! If you’re looking for a ferocious sports car with plenty of color options, you won’t find a better choice than the brand new 2022 Dodge Challenger….

  • RAM 1500 Seat Covers

      There are many accessories and parts available that Chatham drivers can use to upgrade their trucks as well as make them wholly their own vehicle. That’s why seat covers are a fan favorite for many RAM 1500 owners of both new models and pre-owned models alike. But what are your options, and what are…

Green Dodge 39.7571306, -89.727408.