Whether you have a friend or family member whose car you know is in good condition and you want to snag it up, or you want to lease a vehicle but don’t want to commit to the entirety of a brand new lease, a car lease takeover can present a tempting alternative, and a timely opportunity. So, can you take over a car lease in Williston? You bet you can! That having been said, there are some things you should be aware of. Learn the basics of car lease takeovers below or contact us to learn more.
Car lease takeovers work almost identically to new car leases, in that you don’t wind up purchasing the vehicle. Rather, you pay to use it for a certain period of time (until the original lease is up). Generally, you’re also restricted to driving something like 1,000 miles a month. That said, restrictions do vary based on how much the previous lessee drove. Monthly payments are simply determined by the estimated depreciation of the vehicle at the end of the lease term plus the interest rates. As is the case with a regular lease, you can either return the vehicle at the lease end or buy it out.
There are definitely both pros and cons to buying out a car lease. Here are some of the major ones that Watford City and Dickinson customers most often cite:
Looking for a car about which you know the service history and usage by taking on a family or friend’s lease? Then a car lease takeover could be a great temporary solution for you and who knows, maybe you’d wind up wanting to buy out the lease later!
At Ryan Honda, we can help you get some great car lease takeover deals and discover your buying and leasing options. Call the Ryan Honda finance center to discuss your options and be sure not to miss our car buying tips while you’re at it.
Material shortages, economic changes, and other results of the pandemic have caused many automakers to think first before taking any chances with their lineups. However, Honda has charged ahead, revealing several new and updated models last year, from the redesigned Honda Civic to the off-road-ready Honda Passport TrailSport. Now, the automaker is preparing to roll…
If you ask any driver what the first vehicles that come to their mind are when they hear the word “Honda,” there’s a strong possibility the Honda Civic will be amongst those listed. How could it not be? The Honda Civic is a sedan that needs no introduction to those familiar with the Honda lineup,…
The wait is almost over! The all-new Honda HR-V is scheduled to arrive in summer 2022, and you can bet it’ll be here at Ryan Honda, your local Honda dealer in Williston. Honda has revitalized its popular subcompact crossover with tons of new technology, including infotainment system upgrades and driver-assist safety features. This exciting second-generation…