If you’re interested in leasing your next new Jaguar vehicle because purchasing seems like too much of a commitment – that’s okay! A lease takeover may be the option that’s right for you. What is a lease takeover? It’s when you take on the remainder of another driver’s lease, which is a temporary option that works out great for many West Windsor drivers looking for a reliable vehicle. Learn more about the basics about a lease takeover, as well as our available car lease takeover deals with the finance team at Jaguar Princeton.
How Does a Car Lease Takeover Work?
A lease takeover works a little like leasing a new Jaguar vehicle in the sense that you’re purchasing it outright. Instead, you’re using it to drive it for a certain amount of miles or time. Typically, with this program, you’re restricted to about 1,000 miles a month, but this depends on how much the previous driver used the vehicle before you. Your lease payments are determined by the estimated depreciation of the Jaguar vehicle at the end of the lease term plus interest rates. Just like with a regular lease, when the lease term comes to an end, you have the option to purchase it outright or return it to our dealership near Edison.
Car Lease Takeover Pros & Cons
There are pros and cons to a car lease takeover. To help make the choice that’s right for you, explore your options below:
- No down payment
- No new-car upfront depreciation and other costs
- Likely still under warranty
- Possible cash incentives from the original lease
- Transfer fees
- You inherit the monthly payment as it is
- Possible wear and tear from the previous owner
- Mileage restrictions
If you’re interested in a car lease takeover to handle your Franklin Township commute temporarily, this is an excellent option. While you’re not paying the initial costs upfront, you may end up paying other fees later on during the lease. Vitis our finance department to explore your options further.
Lease Your New Car with Jaguar Princeton!
You’ve learned about a lease takeover, and now it’s time to explore our car lease takeover deals and get in touch with our sales team about scheduling a test drive. It’s time you find the vehicle that’s best suited for your driving needs without exceeding your budget. Contact us today!