If you need a car immediately but don’t have the funds to buy a new or used car, taking a lease is a great way to acquire a car for use. But if a new car is not available for lease, you can also take over an already existing lease agreement from someone else, which is called a lease transfer.
Many 多伦多二手车行 (Toronto used car dealers) offer lease transfers on used vehicles, so this is a great option if you need a car immediately. There are several benefits of a lease takeover, some of which are listed here.
1. A lease is cheaper
If you want to buy a new or used car, you may have to make a large down payment. The monthly fees are also usually quite high. However, when you get a lease transfer through 多伦多二手车行 (Toronto used car dealers), the monthly fees are much lower because you only have to pay towards the deprecation of the car.
Moreover, since you are taking over the lease, the lease agreement is going to last for a shorter period than usual. So, you will spend a smaller amount of money on the car in total.
2. Great for short-term
When you need a car for the short-term, it’s always best to take over a lease than to buy or finance a used car. If you don’t plan to use the car for longer than a few years, it’s much more cost-effective to take over a lease.
Moreover, there is no obligation to buy the car at the end of the lease, so you can easily walk away with no more financial obligations.
3. May still be covered by warranty
Most lease agreements last from two to five years, while manufacturer warranties last around three to five years. So, most of the time, when you take over a lease, the car will still be covered by the warranty.
Therefore, if your car has any defects or malfunctions, you can get it repaired for free under a warranty. It’s best to ask the Toronto used car dealer if a warranty covers the car before taking over the lease.
In a nutshell
A lease takeover is a great way to get a relatively new car for a low monthly cost. You won’t own the car, but you can use it as your own for the rest of the lease agreement period. After the lease period, you can either buy the car or walk away. Some 多伦多二手车行 (Toronto used car dealers) may also offer special discounts if you get into a new lease agreement at the end of the first lease.
If you want to take over a lease, you can go to the Sparklease website today and find hundreds of cars to choose from.
James Stewart is the author of this article. For more details about 买车 (Buy a car) please visit our website: sparklease.com
