Lease Takeover – Pros and Cons
I have been thinking of getting another car of recent, and I have always wanted to enter into the SUV market. I never knew of one resource until a reader mentioned it to me, it was leasebusters.com, I am not affiliated to this website but I believe that they offer great services for car shoppers.
What they simply do is to list leased vehicles whose leases want to get out of, you should know by now that leasing a car could be very expensive to get out of if such situation arises. So leasebusters provide an avenue to list leased vehicles, some even do so with incentive to have the payments taken over.
Being a frugalist who loves to pay cash for almost everything in order to avoid paying interest, I never thought of leasing a vehicle. But when I saw all the motivated lease holders who were offering cash incentives to get out of their lease, it was then I had to take a closer look. But having understood the fact that car lease in Montreal could have it ups and down and being that I have had some good and bad experiences with taking over a lease, I want you to know the pros and cons that comes with a lease take over.
Pros of Taking over a Lease
- If you take a closer enough you can find some really good deals that beat your expectations.
- As a general notion, leased vehicles are very well maintained and have very low mileage due to the restriction on km.
- Lease takeover in Toronto is very great for those who love to lease vehicles for the reason that they can be paid money upfront for so doing and simply give the car back to the dealership at the finalization of the term
Cons of Taking over a Lease
- Buyer is now responsible for the remainder of the lease.
- Careful calculations need to be made as some of the listings are just plain expensive.
- The new buyer will now be responsible to the remaining balance of the lease.
- You really need to do some careful calculations because some listings are just plain expensive
My Final Thoughts
My car shopping adventures have taken me to all types of car purchasing options and never before would I have considered a lease. However, if you can find the right deal with a motivated seller, it can work out quite nicely providing due diligence is completed.
I have been taken to all types of car purchasing options by my car shopping adventures and I have never for once considered leasing. Nevertheless, if you can get the right deal from a motivated seller, it might work out very well in as much as due diligence is completed. Do you love the idea of a lease takeover?