Car Lease Takeover - What are the Risks? Is it worth it to buy or sell a " Car Lease Takeover "? Despite many being involved in this type of transaction, do you know that there are certain risks that may be unforeseen? Risks for the Seller: Involvement in Criminal Cases : If the third party misuses the car for criminal activities, you, as the original owner, are at risk of being implicated in any related legal issues. Traffic Summons : All traffic summons or fines issued to the vehicle will affect you as the original owner, not the third party who bought it. Buyer Defaults on Installments : Many buyers in such arrangements have poor financial records, making them prone to defaulting on installment payments. This will leave you burdened with their debts. Re-Selling the Vehicle : There are cases where the car bought through lease takeover is resold to another party without your knowledge. This can cause problems if monthly payments are not made to the bank. Risks for th...
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