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90 MacKenan Drive, Cary, NC, 27511

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  • Mon - Fri9:00 AM - 8:00 PM
  • Sat9:00 AM - 8:00 PM
  • SunClosed
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  • Mon - Fri7:00 AM - 6:00 PM
  • Sat7:00 AM - 5:00 PM
  • SunClosed
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  • Mon - Fri7:00 AM - 6:00 PM
  • Sat7:00 AM - 5:00 PM
  • SunClosed
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Are Car Lease Takeovers Possible?

Lease Agreement
 

While many Raleigh shoppers find it a better fit to apply for financing on one of our vehicles, it might always be the right option for your needs. Leasing is often a fantastic choice depending on your exact lifestyle and can be a good fit if it works for your budget. With that being said, if you’re not fully committed to leasing a vehicle, consider a car lease takeover deal.

Our finance experts often get asked if car lease takeovers are possible, and the answer is yes! A lease takeover is a great option for when you don’t want to completely take on a full-term vehicle lease. However, keep in mind that there are some nuances involved with car lease takeover deals. Today, the experts from Hendrick Kia of Cary will go over what you need to know with car lease takeovers!

What Does a Lease Takeover Entail?

So, how do lease takeovers work? Essentially, they’re not different from standard leases. Meaning, you’re not buying the vehicle outright, and you typically have a mileage restriction. However, the benefit of leases is that it’s not a long-term commitment, so you can easily upgrade to a new ride every few years for your Durham commute.

Nonetheless, what makes a lease takeover different is that the lease term will be for a less amount of time because you’re taking over a lease that was leftover from someone else. Typically, the monthly lease payment may be determined by the amount of depreciation at the end of the lease, the previous owner’s lease payment amount, interest rates, and other factors. If you’re interested in a car lease takeover, we suggest you give our finance experts a visit!

Are Car Lease Takeover Deals Right for You?

Similar to financing and standard vehicle leases, there are pros and cons to car lease takeovers. It just depends on your exact needs and what you’re looking for on your next Apex daily driver. With that being said, here are some advantages and disadvantages of car lease takeovers:

Advantages

  • No/low down payment
  • Decreased depreciation/upfront costs
  • High-chance of warranty coverage
  • Cash incentive opportunities

Disadvantages

  • Possible transfer costs
  • Less flexibility with monthly payments
  • Mileage limits
  • Potential previous owner wear & tear 

At the end of the day, a car lease takeover is a good option if you prefer a more temporary alternative for your drives. On the other hand, be aware that there may be some initial costs involved with lease takeovers.

Explore a Vehicle Lease Today at Hendrick Kia of Cary!

Still not sure if a car lease takeover can work for you? We can help you learn more, just give us a visit in Cary. If a car lease takeover or standard car lease sounds like it checks off all of your boxes, be sure to get in touch with our team. We’ll help you explore everything involved with a vehicle lease and answer any questions you may have. Ready to get started? Feel free to contact us for assistance!

 

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