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Can You Take Over a Lease?

Woman Signing Paperwork

 

If you’re interested in leasing a vehicle around New Haven, but don’t want to make a commitment to a full lease, a car lease takeover is a great alternative. This allows you to continue the lease of the lessee before you, and get in a new Hamden ride quick and easy. Let’s take a closer look at a lease takeover with the experts at Hamden Mazda today! For more information, feel free to contact us anytime!

 

 

How Does a Car Lease Takeover Work?

So, how does a car lease takeover work? Taking over a car lease works quite similarly to if you leased a new car. You’re not paying for the vehicle outright, instead, you’re paying a fee to use the vehicle around Hamden. Your monthly payment is determined by the overall depreciation of the vehicle, which is less than if you leased the car brand new. This is because the depreciation value of the vehicle is less than if the vehicle was new.

Car Lease Takeover Pros & Cons

Similar to most options available when purchasing or leasing a vehicle, there are advantages and disadvantages to a car lease takeover. Let’s check out a few of the pros and cons of this method in more detail below:

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

A car lease takeover is a great option if you need a car fast, and want the latest features available on your North Haven commutes. It’s always important to note, that it’s possible that you could be responsible for any fees that might show up throughout the length of the lease.

Get Car Lease Takeover Deals with Hamden Mazda!

Now that you know more about the car lease takeover process, come stop by Hamden Mazda today. If you’re interested in leasing a brand new car, come check out our new vehicle inventory, and meet with our finance center to get a monthly payment that works for you. Be sure to check out our lease specials to save near Wallingford!

 

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Hamden Mazda 41.37324, -72.909518.