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Short Term Car Lease - How and When to Consider a Short Term Car Lease

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Many people, today, are deciding to lease cars instead of buying a new one. One of the main reasons for this is because of the economy and how much value new cars lose as soon as they are driven off of the lot. Leasing is a great option, but what if you do not want to lease for a long period of time? Most dealerships will only allow a lease for a minimum of 24 months on a brand new car. Have you ever considered a short term car lease?

There can be a number of reasons why someone would want to lease a car for less than 2 years; a job that is only short term, college, military deployment, financial issues, family issues or just simply wanting to test out a specific make or model for a little while before purchasing. People in these situations might not know about short term car leases and could end up paying a lot of money for a rental from a long-term rental company. Some car rental companies will allow up to several months on a car rental. Although, it may sound convenient, the dollars add up quickly.

If you only need your car for up to six months, however, it may be more cost efficient for you to consider a long-term rental through a car rental company. If you need your car for six to 24 months, you may wish to consider a short term car lease. When you are making this decision, you must keep in mind that leasing and renting is not the same thing. If you know where to look, some car leases on short terms are offered very cheap and without a down payment.

How does a short term car lease work? It is really very simple. If there is someone stuck in a lease from a dealership that needs to get out of it for any reason, you can take over their lease. As the new lessee, you take over the monthly payments from the previous lessee and agree to abide by the rules of the original lease, such as mileage. Sometimes, you will run across a short term lease that only has a few months left on it. In some cases, however, there can be between two or three years left on the lease.

The process of taking over someone else’s lease only involves changing up paperwork and the contract in order to switch over the lease. Once your short term car lease is up, it is your responsibility to return the car to the lease company or purchase it. One thing to remember when you go to sign the paperwork is to check for damages and excessive mileage on the vehicle. Once you return it, you will be held responsible for any excessive damage or mileage. If you default on the lease as the 2nd lessee, the original lessee will be held responsible. So, it is important that you be responsible when signing the dotted line.

Finding these short term car leases can be challenging. Sometimes you can find them in newspaper classifieds and auto trader magazines. This is not the best way to go, however. It is not a legal short term car lease unless the lease company approves it and the contract is changed. It is illegal for you to simply take over the payments. Keep this in mind if you do run across these ads.

The best way to find short term car leases is to check out web sites of companies with a knack for putting together sellers and buyers. They have lists and descriptions on vehicles that are being offered for a short term car lease. Many times, they list very good deals. Good deals come about especially with the original lease was also a good deal. If you get really luck, some lease sellers will offer cash incentives to lease buyers. To find an almost brand new car this way is a great deal because you get it for very little money.

So, whether you are deployed on military orders or you just don’t have the money to put into a new car at the moment, keep short term car leases in mind. It can save you a lot of money and you can have a new car!

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