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Pre-Owned Car Leasing vs a Car Lease Takeover

"Pre-owned leases" can refer to two different things:

  • Leasing a used car
  • Taking over someone else's car lease

Leasing a pre-owned (used) car is very similar to leasing a new car. You need to find a car you want to lease, then find a bank willing to extend credit for the purchase of that car.

Taking over someone else's car lease can be an attractive option because you can often end up with a shorter lease, and you may be able to negotiate a better deal with a motivated leasee. The flip side, of course, is that if you want to exit your car lease early, you may be able to find someone that will simply take over the lease.

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