I have been helping someone look for a used car. My friend searched many of the car guides online and directories, but she never thought about taking over a lease. Many buyers looking for a used car neglect to browse the thousands of cars that are currently available in a lease takeovers. Sometimes a person will lease a car but then his needs change or his/her finances leaving them in a lease that they no longer need or want.
Auto Lease Takeovers that are available sometimes offer the buyer or takeover person a cash incentive to take over the person’s lease. The original person signing the lease may have made a downpayment and also several monthly lease payments into the deal that they are willing to walk away from.
In a lease advertised takeover, you will or should see the following info: example only
|Model||RDX SH AWD w/Tech Pack.|
|Body style||SUV Sport|
|Lease Take-Over details|
|Leasing company||Honda Canada Finance|
|Monthly payment, before taxes||$637.63|
|Monthly payment, incl. taxes||$719.72|
|Original down payment||$0.00|
|Purchase Option at end of lease||$19,355.60|
|Total Kilometre allowance||96000|
|Excess km charge||0.12|
|Original lease term (months)||48|
|Lease expiry date||03/12/20xx (M/D/Y)|
The vehicle details will give you the original lease term, the lease payments, and a lease take over summary as seen below:
Lease Take Over Summary
Take over this lease for 26 months for only $637.63 per month plus taxes and receive $1,500.00 as a cash incentive paid directly to you. It currently has 38000 km’s and you can drive it up to 96000 km’s at no extra cost
Now you know that you have another option when buying or leasing a new or used car, you can do an auto lease take over!