The lease transfer process where an individual seeks to transfer their car lease to someone offers a number of benefits to the Lease Buyer, the individual who assumes or takes over a lease. Taking over a lease is an advantageous method to getting into a more luxurious or desirable vehicle, at a much lessor costs and time commitment on the lease. The individual who takes over a lease is acquiring what is known as a short term lease.
A lease take over, also known as a lease trade, or swap a lease, or lease transfer, is the simple means of assuming or taking over the lease of another individual. At the heart of it, its basically a paperwork to complete the lease transfer to take over the vehicle. The only challenging component is finding the right match between a Lease Seller and Lease Buyer….similar to selling a car and shopping for a buyer and/or seller.
The stress and costs of a new lease or essentially eliminated in a car lease take over. The Lease Buyer simply takes the vehicle over from the original Lease Seller, and continues the monthly lease payments to the lease company under the same terms of the lease agreement.
Taking over a car lease, and avoiding the up-fronts costs of a new lease, is the easiest and cheapest way to get into and drive a relatively new car, still under warranty protection. Most existing leases were taken out months ago when car manufacturers were offering unbeliveable deals — deals that are not available today.
Lease Takeover Benefits
To take over a car lease, comes with many benefits. You may find yourself asking why you had never considered this option before. Keep in mind, the means to transfer a lease has been around for awhile, and its only know that taking over a lease has exploded as a popular alternative to getting to a vehicle. The benefits of a lease takeover include:
- Short term lease. You’re only fulfilling the remainder of the lease term.
- Incentives? Many Lease Sellers offer one or two months or more of lease payments up front to takeover their lease
- No down payment or deposit
- Less monthly payments, than a new lease. The original Lease Seller may have placed a down payment up to a few thousand dollars on the new lease to bring down the monthly lease payments. The Lease Buyer can benefit from this.
- Dream car. With a shorter time commitment, and possibly less monthly payments, stretches the Lease Buyers dollar to allow them to get into a more luxurious vehicle (ex. BMW, Mercedes, etc.) for a less monthly lease payments than if they originally leased brand new.
- Cost to acquire the vehicle. At the end of the lease term, it may be less costly to purchase the vehicle outright, than to purchase new.
- Conscious – well, it feels good to help someone out who may be in personal or financial difficulties.
There are a number of reasons why taking over a lease from the lease transfer process can benefit you. The biggest challenge is finding a lease that matches your needs and budget AND is available for lease transfer. More and more consumers are now placing their lease up for transfer, especially in tough economic times. Continue on reading to learn where you can find a car lease for takeover.
Next: Where to find a car lease to take over