How a takeover works
- The current driver lists the lease, often on a lease transfer marketplace such as Swapalease or LeaseTrader.
- You agree on terms. Some sellers offer a cash incentive to take the lease.
- The lessor runs a credit check on you and must approve the transfer.
- You sign the transfer paperwork, pay any transfer fee, and take over the payments for the remaining term.
Compare a takeover with a new lease on the same terms.Get a new-lease quote
Why people take over a lease
- A short remaining term, often a year or two.
- Little or nothing due at signing, since the original driver already paid it.
- A monthly payment locked in from when the lease was written.
What to check first
- Whether the lessor allows transfers. Not all do, and some allow them only to certain buyers.
- Miles left. You inherit the mileage allowance and pay for any overage at lease end.
- Condition. You are responsible for wear at return, so have the car inspected before you agree.
- Fees. Transfer fees, marketplace fees and the disposition fee at the end.
- Liability. Some lessors keep the original driver partly liable after a transfer. That matters to the seller, and it can affect how willing they are to transfer.
Takeover or new lease?
A takeover payment reflects the incentives from when the lease was written. Current incentives are sometimes better, and a new lease gives you full miles, a new car and your choice of trim. Before you take over a lease, compare it with a new quote on the same basis: monthly payment plus everything due at signing, over the months you will drive it. The leasing guide shows how.
Tell us the car and we will quote a new lease so you can compare, or browse the current deals.