Have you ever heard of a lease takeover? You take over a leased car and the associated contract and you are the new lessee. Would you like more information? Here you can find out which five things you need to pay attention to when taking over a lease.
Taking over a lease
In the case of a lease takeover, an existing lease contract is transferred to a new lessee. In future, the new lessee will take over the monthly leasing instalments. He or she is therefore the new contractual holder of the leasing contract.
How can a leasing contract be terminated prematurely?
Taking over a lease is particularly interesting for the existing lessee. If his or her personal situation changes due to a career change, divorce or addition to the family, the income and personal circumstances make things rather complicated. Either you no longer need a car or another one is better suited to the new needs. However, terminating a leasing contract is usually associated with high costs.
The new lessee, on the other hand, faces a shorter contract period when taking over the contract. Depending on the amount of the existing lessee's down payment, he or she is bound by a short-term leasing contract with moderate instalments.
What does a lease takeover cost?
If you take over a leasing contract, you have to pay certain costs. Most of these can be negotiated. In concrete terms, these costs are as follows:
- Monthly instalments
- Share of down payment
- Fee for the contract transcription
- Costs for exceeding the kilometrage limit
1. Monthly rates
The monthly instalment must be paid by the end of the contract period. There is no room for negotiation regarding the costs.
2. Down payment
To reduce the monthly instalments, lessees make a down payment. The previous lessee usually wants to have this down payment paid out by the new lessee.
3. Contract transcription fee
A fee may be charged for the rewriting of the leasing contract. Who pays this fee varies from case to case. Whether the first lessee or the new lessee will do so will have to be negotiated.
4. Costs for exceeding the kilometrage limit
A leasing contract contains a kilometrage limit which the lessee may not exceed. Anyone who exceeds this limit must pay compensation for each additional kilometre driven, as specified in the contract. If you take over a leasing contract, you must first check whether the kilometrage limit has been exceeded. If this is the case, you can ask the previous lessee to reimburse you for the extra kilometres driven.
Damage to the car is an important issue. At the end of the contract period, the lessor checks whether the leased car has any damage or defects. It is desirable that these are compensated. Before taking over the lease, you should carefully check the car for defects, dents or damage. If there are any, you must have them repaired or have the former lessee compensate you accordingly. If you neglect anything, you may have to pay the full cost when returning the leased car.
What are the requirements for a car lease takeover?
The requirements are that the new lessee meets the same conditions as the previous lessee. The new lessee must be able to pay the monthly leasing instalments and a possible part of the down payment.
What is the remaining duration of a lease takeover?
This varies from case to case and depends on when the first lessee decides to initiate a car lease takeover and how long the contract is valid.
What are the advantages and disadvantages of a lease transfer?
One of the advantages of a lease takeover is that the first lessee can transfer the lease to a new lessee if his/her life circumstances change or if the lease payment suddenly becomes unaffordable. The lease takeover also has certain advantages for the new lessee. Among other things, the term is shorter. Usually, leasing instalments are higher for shorter terms. But in the case of a lease transfer, the leasing rate is calculated over the entire term and is therefore lower.
On the disadvantage side, the kilometres are at the forefront. As already mentioned, a leasing contract involves a kilometrage limit that the lessee may not exceed. Anyone who exceeds this limit must pay compensation for each additional kilometre driven. The new lessee must check the kilometrage of the car beforehand. The new lessee must also check the car for damage and have it repaired by the former lessee. Otherwise, the new lessee may have to pay for it.
The car subscription from Carvolution
If you are not sure whether you should really take over a leasing contract, there is an alternative: the car subscription. You drive a new car. No fees and no risk of having to pay for the damage caused by your predecessor. You are also flexible about the duration of your new car. Whether you want to drive it for 3, 6 or up to 36 months is entirely up to you. Furthermore, in many cases it is cheaper than leasing. The monthly fixed price includes everything. From insurance, tyres, service & maintenance or cantonal taxes. You do not have to worry about anything. With your new car from Carvolution, you can simply drive off.
Ford Puma ST-Line
Launch promotion from CHF 499.- / month
with a fixed term of 24 months