Short Term Car Lease: The Lease Takeover Option

There are multiple alternatives to leasing a vehicle for a short time, let's say, under two months. You can go to Enterprise, Alamo or any other of the car rental agencies in North America and more recently on Turo (the Airbnb for car rentals). The "also popular" trend of doing lease takeovers with less than 24 months left, also count as a "short-term car lease" variant and I will be talking about that here today. 

Short Term Car Lease: Our Available Lease Takeovers

When it comes for just a weekend, or even a couple of weeks, renting a vehicle at an agency is the best affordable solution. Paying from 40 - 60 per day, makes the two weeks rent a 560 - 840CAD budget. But how about if you want to go further? 1,000 CAD/month for a single month on a Corolla sounds reasonable, but not if you're going to do it longer. This is where Turo figured out an excellent market opportunity and came up with a good solution for the two weeks to 3 months range.

On the opposite, car leasing companies (usually manufacturers) offer a more extended lease/rent contract that goes from 24 and up to 60 months, although these are more intended to be leased for individuals who reside in a specific area. Now, where Lease Takeovers come in?

Lease Takeovers show up as an excellent short-term car lease opportunity because:

  • Contracts were initially longer and indeed, cheaper: So whoever takes the remaining time, will be subject to the originally lower signed price. This means that, while leasing a brand new BMW 3 Series at a dealership may cost you 700CAD/month for 24 months, you could get one from someone else's that has about 2 years remaining but is paying 450. 
  • The leasing term options are variable and range from 3 to 60 months.
  • The vehicle can be purchased now or at the end of the contract.

On average, most of the Lease Takeovers listed in our marketplace are available from 20 to 30 months (from 2 to 2 and a half years), but It is worth to mention that the average duration of a car lease contract in Canada is 36 to 48 months. The main reason: the default warranty period coverage offered by manufacturers ranges to that time. Still, some customers extend the leasing period up to 5 years and include Extended Warranty Coverage in most cases.

Here you can find all available lease takeovers that are near to end.

Popular Vehicles: 200 - 600 CAD/month

Most popular vehicles are available at very affordable price ranges: 200 to 600 CAD/month, depending on the size, model and term. You can perform a full search of the cheapest lease takeovers available.

Short Term Car Lease: Popular Vehicles

A sample group of listings for popular vehicles sorted by monthly payment. Note how term varies, although monthly payment ranges from 250 - 260 CAD/month.

High-End Vehicles: 500 - 900 CAD/month

Luxury or High-End vehicles (including top trims of more popular models) are available for takeover too. I would say, nearly half of the cars listed for takeover, are from this category.

Here you can start browsing our listings sorted by price.

Short Term Car Lease: High End Vehicles

A sample group of listings for high-end vehicles sorted by monthly payment. This group is sorted by remaining time of the contract.

Explore the Lease Takeover Marketplace

About the author

Jorge Diaz is a passionate car lover, winter driver & Software Engineer. For the last 10 years, he has built Online Solutions used by more than 5,000 companies across the globe. He founded LeaseCosts in 2016 with the purpose of simplifying and helping people to better understand the complex market of new vehicles in Québec and Canada. You can connect with Jorge in LinkedIn or send him a direct message.