Interested in leasing a vehicle, but not sure if you want to commit to a full lease? A lease takeover could be a great option for you. So, what is a car lease takeover? A car lease takeover is when you take on the remainder of another driver's lease. If you're simply looking for a car to drive around Redlands, there are a few things you should consider before taking over a lease. Learn the basics of taking over a lease and learn more about available car lease takeover deals with the finance team at Metro Hyundai.

How Does a Car Lease Takeover Work?

This process is similar to a lease on a new car in the sense that you're not buying the vehicle outright. In this case, you'd be paying to drive the vehicle for a certain amount of miles or time. Typically, you're restricted to about 1,000 miles a month, but this depends on how much the previous driver drove the vehicle before you. When it comes to monthly lease payments, these are determined by the estimated depreciation of the vehicle at the end of the lease term plus interest. And like with a regular lease, you return the vehicle to your local San Bernardino dealership at the end of the lease term if you don't plan on buying the vehicle.

Car Lease Takeover Pros & Cons

As with any car buying or leasing option, you'll find benefits and downsides. To help you decide if taking over a car lease is a good option for you, we've put together some of the pros and cons of taking over a 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

If you're interested in something temporary for your Highland commutes, a car lease takeover could be a great option for you. However, keep in mind that just because you don't pay initial costs upfront doesn't mean you won't end up paying other fees later in the lease term. Explore your options with our finance team in Loma Linda before you get the process started.

Lease a New Car with Metro Hyundai

When the time comes to lease a car, choose the Metro Hyundai finance team. We offer leasing specials to help you save even more on your favorite model from our inventory. Explore your options today then get the process started with our team! Have questions in the meantime? Don't hesitate to contact us.