Can You Take Over a Lease?
Time to upgrade your Cary drives, but not sure if you want to commit to a full lease? A car lease takeover might be your best option. This is when you take on the remainder of another driver’s lease. While a good short-term option when looking to cruise around Apex without the commitment of a full lease, there are some things to consider before deciding if a car lease takeover is right for you. Learn the basics of taking over a lease and learn more about available car lease takeover deals with the finance team at Hendrick Dodge Cary.
How Does a Car Lease Takeover Work?
So how does a car lease takeover work and how can you get the process started? A lease takeover works similarly to a lease on a new vehicle in the sense that you aren’t buying the car outright. Instead, with a lease takeover, you’re paying to drive the vehicle for a certain amount of time or miles. Typically, you’re restricted to about 1,000 miles a month, but this will depend on how much the previous driver has driven the vehicle before you. Monthly lease payments will be determined by the estimated depreciation of the model at the end of the lease term plus the interest rates. And just like with a regular lease, you can bring your vehicle into our dealership near Carrboro to return it.
Car Lease Takeover Pros & Cons
Like with any car buying or leasing option, there are perks and downsides to taking over a car lease. We have a list of both to help you find the right option for you. Here are some of the pros and cons of taking over a car lease:
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
Interested in something temporary for your daily commutes and weekend adventures? A car lease takeover is a great option. However, just keep in mind that while you don’t pay initial costs upfront, that doesn’t mean you won’t pay other fees later on during the lease.
Lease a New Car with Hendrick Dodge Cary
Check out your car lease takeover deals and more with our finance team at Hendrick Dodge Cary near Chapel Hill. Get pre-approved for financing online, then schedule a test drive with our team. We look forward to helping you drive off in the model that’s right for you and your daily commute. Contact us today to learn more.
More from Hendrick Dodge Cary
Are you ready to trade in your current vehicle to experience the power and versatility of the 2024 RAM 2500? Hendrick Dodge Cary is thrilled to introduce you to this robust truck, perfect for tackling any job or adventure. Whether you’re hauling heavy loads or navigating the streets of Apex, the 2024 RAM 2500 offers a…
Read More
Apex drivers who dare to take on the muscle of the 2022 Dodge Challenger can do so for an approachable starting MSRP of $30,825. But that’s just for the entry-level Dodge Challenger SXT —there are many more trim levels available, including several Challenger Hellcat configurations. With so many new Challenger options at Hendrick Dodge Cary, it’s…
Read More
The new Dodge Durango combines muscle car performance and SUV convenience in one athletic package, with strong towing power and up to 293 hp in the baseline engine alone. The 2022 Dodge Durango price starts at $36,995 MSRP for the entry-level SXT RWD configuration, but there’s plenty of room to upgrade and save with new…
Read More
Hendrick Vehicle Disclaimer
$749.00 Dealer Administrative Fee not included in advertised price.
All prices exclude all taxes, tag, title, registration fees and government fees. Out of state buyers are responsible for all taxes and government fees and title/registration fees in the state where the vehicle will be registered. All prices include all manufacturer to dealer incentives, which the dealer retains unless otherwise specifically provided. Dealer not responsible for errors and omissions; all offers subject to change without notice; please confirm listings with dealer.
All vehicles may not be physically located at this dealership but may be available for delivery through this location. Transportation charges may apply. Please contact the dealership for more specific information. All vehicles are subject to prior sale.
Additional Disclaimers:
*Maximum value: $200.00. Discount applies to regular retail pricing on select Mopar® Accessories and Performance Parts for FCA US LLC vehicles. Excludes Accessories Listed in the Mopar Affiliated Accessories Program. Excludes Electric Vehicle Level II Charging Units. Not valid with other offers. Customer is responsible for installation, local tax, and Shop Supplies fee. Must present coupon when the order is written. See Service Advisor for complete details. ©2024 FCA US LLC. All Rights Reserved. Chrysler, Dodge, Jeep, Ram, Mopar, SRT and HEMI are registered trademarks of FCA US LLC. ALFA ROMEO and FIAT are registered trademarks of FCA Group Marketing S.p.A., used with permission.
*Offer applies to 2024 Dodge Hornet R/T EAWD. 2.9% APR Financing for 84 months equals 413.17 per month per $1,000 financed for well-qualified buyers through Stellantis Financial services regardless of down payment. Not all buyers will qualify. Not compatible with any other incentive programs of offers. Contact dealer for details. Must take retail delivery by 09/30/2024.
*Offer applies to 2023 Charger and Challenger R/T. Contact dealer for details. Must take retail delivery by 09/30/2024.
*Contact dealer for details. Must take retail delivery by 09/30/2024.
Well-qualified customers who purchase a new, used, or certified pre-owned vehicle, 4 model years or newer with less than 60K miles between September 3 2024, and September 30, 2024, and finance through a participating dealer and lender have the option to defer monthly payments for 120 days from contract date. Finance charges begin to accrue on the date you sign the Retail Installment Sale Contract at the Annual Percentage Rate (APR) disclosed in the contract. May not be combined with other preferred lender financing offers. 72 months maximum term limit. Equal monthly payments only. Not available to Pennsylvania residents; see your dealer for details. Must take retail delivery by September 30, 2024. See dealer for complete down payment options and details.
