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236 West Boston Post Road, Mamaroneck, NY, 10543

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Dealership Info

Phone Numbers:Collision Hours:Special Hours
  • 4th of JulyClosed
Regular Hours
  • Mon - Thu7:00 AM - 7:00 PM
  • Fri7:00 AM - 6:00 PM
  • Sat8:00 AM - 4:00 PM
  • SunClosed
Sales Hours:Special Hours
  • 4th of JulyClosed
Regular Hours
  • Mon - Thu9:00 AM - 7:30 PM
  • Fri9:00 AM - 6:00 PM
  • Sat9:00 AM - 5:00 PM
  • SunClosed
Service Hours:Special Hours
  • 4th of JulyClosed
Regular Hours
  • Mon - Thu7:30 AM - 7:00 PM
  • Fri7:30 AM - 6:00 PM
  • Sat8:00 AM - 4:00 PM
  • SunClosed
Parts Hours:Special Hours
  • 4th of JulyClosed
Regular Hours
  • Mon - Thu7:30 AM - 7:00 PM
  • Fri7:30 AM - 6:00 PM
  • Sat8:00 AM - 4:00 PM
  • SunClosed
Service

Can You Take Over a Lease?

Woman shaking mans hand over a car contract clipboard with car keys

 

If you’re interested in a new vehicle lease in Mamaroneck, but don’t want to commit to a full lease term, then a lease takeover could be a good option for you. So what is a car lease takeover? This is when you take on the remainder of someone else’s lease. 

If you’re just looking for something temporary and you don’t expect to be driving too far beyond the Harrison area, this option is worth looking into. However, there are a few things you should consider before deciding on a lease takeover. Learn more about lease takeovers and more with our finance team at BMW of Mamaroneck today.

How Does a Car Lease Takeover Work?

Much like a regular lease, a lease takeover means you’re not buying the vehicle outright. Instead, you’re paying to drive the vehicle for a limited time or for a certain set of miles. Typically, you’re restricted to about 1,000 miles a month, but this will depend on how much the previous owner drove the vehicle. Your monthly payments will be estimated based on the depreciation of the vehicle at the end of the lease term plus the interest rates. And just like with a regular lease, you bring the vehicle back to the dealership at the end of the lease term.

Car Lease Takeover Pros & Cons

There are benefits and drawbacks of both the car buying and leasing process. To help you decide, here’s a breakdown of the pros and cons of taking over a car lease:

Pros: 

  • No down payment
  • No new-car upfront depreciation and other costs
  • Likely still under warranty
  • Possible cash incentives from the original lease

Cons: 

  • Transfer fees
  • You inherit the monthly payment as it is
  • Possible wear and tear from the previous owner
  • Mileage restrictions

Interested in something temporary? A car lease takeover could be a great option. However, if you’re simply doing it to save money in the long run, keep in mind that no initial costs upfront doesn’t mean you won’t end up paying other fees later on.

Lease a New Car in Mamaroneck 

When you’re ready to lease or even buy a new vehicle, the finance team at BMW of Mamaroneck can help. We also have an online finance application for an easy pre-approval. New Rochelle drivers can learn more about car lease takeovers, our savings options, and more when you contact us at BMW of Mamaroneck.

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BMW of Mamaroneck 40.946952, -73.7346385.