Can You Take Over a Lease?

If your lease is coming to an end or if you’re ready to try something new, you might be wondering if you can take over a lease. Not only can you take over another driver’s lease, but the process is actually pretty simple. Learn how to do a car lease takeover and other leasing tips with the finance team at Shottenkirk Desert Lexus, and visit us near Palm Springs or online for all of your car-buying advice. Plus, check out our car lease takeover deals to see how much you can save. 

Car Lease Takeover: How It Works 

How does a car lease takeover work? A lease takeover is similar to a new car in the sense that you’re not buying the vehicle altogether. With a lease takeover, you’re paying to drive the vehicle for a certain amount of time or miles, usually around 1,000 miles per month. The specific numbers and restrictions will depend on how much the previous driver drove the car before you take over the lease. 

The monthly payments on the vehicle are determined by the approximate depreciation of the vehicle at the end of the lease term plus any interest rates. Similar to a standard lease, you can return the vehicle to a dealership in the Palm Desert area or buy the vehicle at the end of the lease. 

Is a Car Lease Takeover Worth It?

A car lease takeover can be a good temporary option for you while you decide if you want to buy a new vehicle. However, there are plenty of things to consider before you perform a lease takeover to decide whether it’s the right choice for you. Some of the pros and cons of a lease takeover include:

Lease Takeover Pros 

• More than likely still under warranty
• Possible cash incentives from the original lease
• No down payment
• No new-car upfront depreciation and other costs

Lease Takeover Cons

• Possible damage and wear from the previous owner
• Mileage restrictions
• Transfer fees
• No control over the monthly payment as it is

If you just want something temporary for your Indio commute, then a lease takeover could be worth your while. However, there are certain fees and costs to be aware of when taking over a lease. Our car lease takeover deals can help with the costs, but you can always consult with our finance team to see what your best options are. 

Lease Your Next Vehicle at Shottenkirk Desert Lexus 

Contact us to learn more about a car lease takeover and get any answers to your car-buying questions. Reach out to us online or visit us in Cathedral City for more car-buying tips.