The Coronavirus or COVID-19 has impacted the global economy in an unprecedented way and the impact has not exclude the car lease, lease takeover, or lease swaps market. Similar to most segments, this industry took a hit when the world went into lockdown in March 2020. But the industry adapted and is on its way to bouncing back. Read on to find out about the changes that were made by the dealers and financers, the short-term boom in lease swaps, and the projected market growth into 2021 and beyond.
You’ve found your dream car and you’ve contacted the buyer who is very responsive and eager to pass the lease on. However, before you finalize the deal, it’s crucial that you inspect the car before taking over the lease to minimize any future costs on the vehicle and to ensure the vehicle has been well cared for by the current lessee.
Stay with us to go over the basics, which are always good reminders, followed by the more technical aspects of what you should be looking for.