If you’re interested in leasing a vehicle, but are not sure if a full lease is the right commitment for you, a lease takeover could be a great option. However, keep in mind that this is a temporary option. Learn about taking over a car lease, leasing options, financing options, and more with the finance team at Hendrick Chevrolet Southpoint in Durham.
So, how does a car lease takeover work — and how can you get the process started? A car lease takeover works similarly to a lease on a newer vehicle, insofar as you’re not buying the vehicle outright. Instead, you’ll be paying to drive the vehicle for a predetermined number of miles — typically about 1,000 miles a month. Mileage limits will also depend on how much the previous driver drove.
Your monthly lease payments will be determined by the estimated depreciation of the vehicle at the end of the lease term plus interest. And as with a normal lease, the vehicle can be returned to your local Raleigh-area dealership at the end of the lease — or you can opt to buy the vehicle outright.
Whether you buy or lease, there are both perks and drawbacks. If you’re interested in taking over a car lease, you’ll want to consider the pros and cons before you make any decisions.
When you’re looking for something more temporary for your Cary drives, then a car lease takeover is a great option. However, keep in mind that while you don’t pay initial costs up front, it doesn’t mean you won’t end up paying other fees later on during the lease.
Our team at Hendrick Chevrolet Southpoint can help you explore some car lease takeover deals should you decide to move forward with this process.
Use our online pre-approval tool to see how much you’re approved for today. If you’re looking to sell your current vehicle, use our online value your trade tool to see how much you could get for your vehicle. In the meantime, if you have any questions, be sure to contact our team or stop by our dealership near Chapel Hill.
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