Car Lease Takeover Memphis TN
Car Lease Takeover
In a tough economy, automotive consumers look for new ways to be able to get into the cars they need and want. Lease takeovers, or lease transfers, are increasingly providing the ideal answer for many of these consumers. Although lease transfers have been around for years, it has now become the hottest new way to acquire a late model automobile at the lowest possible cost.
Here's how a car lease takeover works
Someone who is currently leasing a car wants out of their lease. It might be for financial reasons, health reasons, a divorce, or that they simply want another car. They leased the car less than three years ago (most leases are 2-3 years) before the economy went sour. They might have made a large down payment or traded a relatively new car, or perhaps took advantage of a special promotional lease deal, which created low monthly payments.
They now want out of their lease and are willing to let someone else take over the car and lease, along with its low payments. In many cases, they are offering cash as an incentive to make the deal even more attractive.
What is a car lease takeover?
Sometimes called a lease trade or lease swap, taking over a car lease is simply a process by which someone takes over (assumes) the lease of another. It is primarily a paperwork process. Both the car and the lease change hands. The new lessee simply takes the car and begins making the same monthly payment as the original lessee under the same lease agreement, ...