The benefits of a lease takeover
Looking for a recent vehicle at a good price? You should absolutely consider a lease takeover. Here’s why:
Save thousands of dollars and pay no money down
When a consumer leases a vehicle, they sometimes have to put money down to decrease the monthly payments. When you take over a lease, you avoid this initial outlay of cash and just continue the monthly payments as set out in the lease. It’s a pretty sweet deal!
Get an incentive for taking over a lease
Some people have to get out of their lease for various reasons (job loss, separation, company vehicle, etc.). Because there can be financial drawbacks to ending a lease, the person giving up their lease may sweeten their offer with an incentive, like covering a few monthly payments. You’ll find that information on the vehicle listings on our site. Take advantage of it!
Enjoy lower monthly payments
Some vehicles listed on ByeByeLease.ca have been repossessed by a dealership after only one or two years of use. Monthly payments may be reduced to move these almost-new models. In other cases, the sellers offer incentives that translate into lower monthly payments for the buyer.
A vehicle is leased for a monthly payment of $350. There are 30 months left on the lease. The seller offers a $1,500 bonus. The buyer therefore saves $50 per month. You just can’t find a better deal!
Get a short-term lease
Since you’re taking over an ongoing lease, you just continue the initial contract. A short-term lease is a good deal for people who like to change vehicles often or who don’t want to be bound by a long-term contract.
Benefit from a warranty on the vehicle
Vehicles listed for a lease takeover are still covered by the manufacturer’s warranty for the duration of the lease. That’s a detail that can pay off big!