What is in involve in taking over a Lease is there any money down or a credit check?

Answer 1

Typically, consumers are uniformed when it comes to taking over a lease. You would have to refiance the balance owed on the lease in order to take it over. The leasing companies will not usually allow you to just let someone else assume your lease, they have not checked that persons credit or income or stability. Taking over a lease or a purchase is an easier way of saying you can buy my car for what I owe on it. But you have to get it financed.

Answer 2

First thing to do is call the financial institution holding the lease. You must be credit worthy to take over a lease, so yes there will be a credit check. There should not be a down payment required, maybe just an application fee. Everything depends on the terms set by the lessor.