Are you struggling to make payments on your RAM lease? If so, a lease takeover may be just what you need. We’re unpacking all the specifics at I.G. Burton Chrysler Dodge Jeep® RAM of Milford.
What’s a Lease Takeover?
When you lease a vehicle, you must sign a contract. It includes the length of time you will lease the vehicle, as well as its cost and restrictions. If you can’t make your payments, you can transfer your lease to another driver, which is known as a lease takeover.
How Much Does it Cost?
It doesn’t cost anything for someone to take over your lease. However, they will have to go through the same application process that you did to show that they can afford it. Plus, they’ll typically need to make a down payment and pay upfront fees, as if the vehicle were being leased for the first time.
How Long Does it Last?
When someone takes over your lease, all the specifics will remain the same. They’ll make the same monthly payments and the lease will expire the same day that yours was going to originally. They’ll also have the same restrictions.
Should I Take Over a Lease?
A lease takeover can be a beneficial route for many drivers because it’s a shorter commitment. However, it’s important to carefully review the original contract to ensure it works for you. Don’t forget to carefully inspect the vehicle as well – you’re the one responsible for any excessive wear or mileage overage fees now.
Discover Your RAM Lease Options at Our Milford, DE Dealership
Can’t decide if a lease takeover is right for you? We encourage you to visit I.G. Burton Chrysler Dodge Jeep RAM of Milford to speak with our financial experts. We’d be happy to review your options with you!
