Can You Take Over a Lease?

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

 

Do the benefits of leasing appeal to you, but you’re not interested in a full lease? If so, a lease takeover may be a great option! Car lease takeover deals offer attractive flexibility if you’re looking for short-term transportation. While this is a great option as a temporary solution, there are a few things to consider before taking over another driver’s lease. Luckily, the Hendrick Buick GMC Cary finance team is here to help you explore the pros and cons of lease takeover deals. Learn more with us below! 

How Does a Car Lease Takeover Work?

If you’re familiar with new-car leasing, then you will be a quick study when it comes to taking over a lease from another driver. Just like leasing a new car, when you opt for a car lease takeover deal, you’re paying to drive the vehicle for a certain amount of time or miles. Generally, you’re restricted to 1,000 miles per month, but this can vary based on the habits of the original driver. 

Each month, your payment will be based on the estimated depreciation of the vehicle at the end of the lease term plus the interest rates. Once your lease term is up, simply return your vehicle to the dealership, and you’re good to go!

Car Lease Takeover Pros & Cons

Just like buying a car or leasing a new one, there are benefits and drawbacks that come with car lease takeover deals. To help you discern if a car lease takeover is right for your Raleigh lifestyle, explore the basic pros and cons of taking over a lease here:

Pros: 

  • Minimal down payment
  • Don’t have to pay the costs of depreciation
  • Warranty coverage 
  • Possible cash incentives from the original lease

Cons: 

  • Transfer fees
  • Inherit a set monthly payment
  • Possible wear and tear from the previous owner
  • Mileage limits

If your commute from Apex to Holly Springs needs a temporary boost, taking over a car lease is an affordable and effective solution. However, while you may be avoiding initial costs, you may be saddled with fees and extra expenses when the lease term ends. That’s why it’s important to evaluate the mileage and condition of any vehicle you bring home to Cary – for a lease takeover or otherwise. To help you determine what path is right for you, work with our expert team!

Lease a New Car with Hendrick Buick GMC Cary

Ready to further explore the possibility of taking over a lease from another driver? If so, Hendrick Buick GMC Cary can be your guide! Visit us in Cary or contact us at your convenience to learn more about car lease takeovers.

More from Hendrick Buick GMC Cary

  • 2022 GMC Sierra 1500 Colors

      The GMC Sierra is built to tackle just about any job in Raleigh, but muscle isn’t the only thing in this tough truck. The 2022 GMC Sierra colors will pair well with the dynamic body and speak to your unique style all across Apex! Read on with Hendrick Buick GMC Cary for an overview of these 2022…

  • 2022 GMC Acadia Towing Capacity

      Searching for a versatile new SUV your whole family will love? The new 2022 GMC Acadia is spacious and well-equipped for adventures in Raleigh and beyond. It has plenty of cargo space to pack in groceries or camping gear, but how much can the 2022 Acadia tow? The 2022 GMC Acadia towing capacity maxes…

  • Explore the 2022 Buick Envision Colors

      If you’re searching Cary for a luxurious new SUV that accurately reflects your personal style, check out the 2022 Buick Envision colors. You can take on Raleigh streets with sophistication and a dazzling set of premium features in the Buick Envision. Explore the 2022 Buick Envision colors below to find your favorite, and then…

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:

 


*Applies to select GMC Models, the 2023 and 2024 GMC Sierra 1500. Length of contract limited. Some customers may not qualify. Not available with lease and some other offers. Take new retail delivery by 3/4/24. **Only on the 5.3L EcoTec3 V8 Engine. For trade assistance, you must show proof of ownership and trade in a 2010 model year or newer vehicle. Not available with lease and some other offers. Take new retail delivery by 3/4/24.. ***Deferred monthly payments for 90 days. Excludes residents of PA. Must finance with GM Financial. Some customers may not qualify. Down payment required at signing, if applicable. Finance charges accrue from date of financing. Not available with lease and some other offers. Take new retail delivery by 3/4/24.

*Length of contract limited. Some customers may not qualify. Not available with lease and some other offers. Take new retail delivery by 3/4/24.**MUST BE A CURRENT OWNER OF A 2010 MODEL YEAR OR NEWER NON-GM VEHICLE OR A CURRENT LESSEE OF A 2019 MODEL YEAR OR NEWER NON-GM VEHICLE FOR AT LEAST 30 DAYS PRIOR TO NEW VEHICLE SALE. Not available with lease and some other offers. Take new retail delivery by 3/4/24. ***Deferred monthly payments for 90 days. Excludes residents of PA. Must finance with GM Financial. Some customers may not qualify. Down payment required at signing, if applicable. Finance charges accrue from date of financing. Not available with lease and some other offers. Take new retail delivery by 3/4/24.

Connect With Us

Menu

Hendrick Buick GMC Cary 35.73971, -78.81744.