![]() What you can do: If you really want the car but expect to exceed the mileage cap by the end of the lease, ask about mileage overage charges so you can plan accordingly. Lease swap sites like and list the car’s current mileage along with the remaining miles on the lease or the lease’s mileage limit. If you go over the limits, you could face excess mileage charges from 10 cents to 25 cents per mile or more. Mileage could be very limitedĪs with the monthly payment, you also must stick to the mileage limits on the original car lease agreement when you take over a lease. What you can do: Before moving forward with a lease takeover, shop around and compare lease swap opportunities involving the same make, model and year to help find the best deal for your financial situation. Or maybe that person didn’t make a down payment - called a capitalized cost reduction on a lease - to reduce their monthly payments.ĭepending on your credit and finances, each of these scenarios could lead to a higher monthly payment than you might have if you had leased a car yourself. In other cases, the original lessee’s credit may not have been good, which can result in a higher cost of financing. Unfortunately, some people don’t negotiate as well as others - if at all. Instead, you inherit the same monthly payment and lease terms that the original lessee negotiated. When you take over a lease, you don’t get to renegotiate its terms. ![]()
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