Find the perfect car lease in Toronto and the GTA. Hundreds of vehicles available for immediate takeover.
Toronto is Canada's largest car lease takeover market, with thousands of vehicles available for immediate transfer across the Greater Toronto Area. Whether you're looking for an affordable Honda lease takeover for city commuting, a family-friendly SUV for weekend trips, or a luxury BMW lease to make a statement, the GTA's diverse lease takeover marketplace has options for every budget and lifestyle.
Taking over a car lease in Toronto offers significant advantages over traditional leasing or buying. You can avoid the hefty down payment, skip the long-term commitment, and often find incredible deals where sellers offer cash incentives to transfer their lease. With Toronto's high cost of living, a lease takeover is one of the smartest ways to get behind the wheel of your dream car without breaking the bank. Learn more about the process in our complete lease transfer guide.
Toronto Downtown, North York, Etobicoke, Scarborough, Mississauga, Brampton, Vaughan, Markham, Richmond Hill, Oakville, Burlington, Ajax, Pickering
Toyota RAV4, Honda Civic, Honda CR-V, BMW 3 Series, Mercedes C-Class, Audi A4, Tesla Model 3, Mazda CX-5, Hyundai Tucson
Compact cars from $250-400/month, mid-size sedans $400-600/month, SUVs $500-800/month, luxury vehicles $800-1500+/month
Traditional car leases in Toronto typically require $2,000-$5,000+ down payment. With a lease takeover, you can often get into a vehicle with little to no money down. Many sellers even offer cash incentives ranging from $500 to $3,000 to make the transfer more attractive.
Most lease takeovers in the GTA have 6-24 months remaining on the contract. This is perfect if you need a vehicle temporarily, are new to Canada and building credit, or want to test drive a model before committing to a long-term lease or purchase.
Since the original lessee negotiated the rate when the car was new, you often benefit from better rates than current market offerings. In Toronto's competitive lease market, taking over an existing lease can save you $50-200 per month compared to leasing new.
Most lease takeover vehicles in Toronto are 1-3 years old and still covered under the manufacturer's warranty. You get a nearly-new car with the latest technology and safety features, plus peace of mind with warranty protection.
Different areas of the GTA have unique characteristics that might influence your vehicle choice:
Living downtown? Consider a compact car or subcompact SUV for easy parking and navigating narrow streets. Popular choices include Honda Civic, Mazda3, Mini Cooper, and Toyota Corolla. Expect to pay $200-400/month for parking, so factor this into your budget. Many downtown residents prefer shorter lease terms (6-12 months) for maximum flexibility.
These areas blend urban and suburban living. Mid-size sedans and crossover SUVs are popular. Honda Accord, Toyota Camry, Mazda CX-5, and Hyundai Tucson are common lease takeovers. Parking is more affordable ($100-200/month), and residents often prefer vehicles with good fuel economy for Highway 401 commuting.
Family-oriented suburbs with excellent lease takeover selection. SUVs and minivans dominate, including Honda Pilot, Toyota Highlander, Chrysler Pacifica, and Ford Explorer. Many listings feature vehicles with 18-24 months remaining, ideal for families wanting stability without long-term commitment.
Affluent areas with strong demand for luxury Mercedes-Benz lease takeovers. BMW, Mercedes-Benz, Audi, and Lexus are frequently available. These areas also see high availability of premium SUVs like BMW X5, Mercedes GLE, and Audi Q7. Lease payments typically range from $700-1,500/month.
Lakeside communities where luxury sedans, sports cars, and premium SUVs are popular. Many lease takeovers feature low mileage since residents have shorter commutes. Expect to find BMW 5 Series, Mercedes E-Class, Porsche Cayenne, and Range Rover Sport.
Current lease takeover listings in the Greater Toronto Area
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Never done a lease takeover before? Here's everything you need to know about the process in Ontario.
Browse available lease takeovers in Toronto on CarLeaseCanada. Filter by make, model, monthly payment, and location. Contact sellers directly to ask questions about mileage, condition, and why they're transferring the lease.
Carefully review the existing lease agreement. Check the monthly payment, remaining term, allowed kilometers, wear-and-tear policies, and end-of-lease options. Verify if the seller is offering any cash incentives to sweeten the deal.
Submit a credit application to the leasing company. Most require a credit score of 650+ and proof of income. In Toronto, approval typically takes 24-48 hours. The lender will run a credit check and verify your employment.
Always inspect the vehicle in person or hire a mechanic for a pre-purchase inspection. Check for damage, service history, tire condition, and verify the odometer reading. Take photos of any existing damage to protect yourself at lease-end.
Once approved, you'll sign the lease transfer documents and pay any applicable fees (typically $300-800 for transfer fees). In Ontario, some brands like Honda and Toyota charge lower fees than luxury brands like BMW and Mercedes.
Obtain car insurance before taking possession. Toronto insurance rates vary by neighborhood, age, and driving history. Once insured, complete the vehicle handover, and you're ready to drive your newly leased vehicle.
Toronto has some of the highest car insurance rates in Canada, averaging $1,500-2,500 per year. Rates vary significantly by postal code. Brampton and Mississauga typically have higher rates than downtown Toronto or Oakville.
Insider Tip: Get insurance quotes from at least 3 companies before committing to a lease takeover. Your insurance cost might exceed your monthly lease payment if you're a new driver or under 25.
Parking costs vary dramatically across the GTA. Downtown Toronto condos charge $200-400/month, while suburban areas offer free or low-cost street parking. Some lease takeovers include parking spots, which can save you thousands annually.
Insider Tip: If parking downtown, consider a compact car. Many underground garages have tight spaces, and larger SUVs can be difficult to maneuver.
GTA drivers average 20,000-25,000 km per year due to sprawling suburbs and highway commutes. Most leases allow 20,000-24,000 km annually. Going over costs $0.15-0.25 per kilometer, which adds up quickly.
Insider Tip: Calculate your expected annual mileage before taking over a lease. If the remaining allowance is low, negotiate a cash incentive from the seller or look for a different vehicle.
While not legally required in Ontario, winter tires are essential for safe winter driving in Toronto. Most insurance companies offer discounts for using winter tires. Confirm whether the lease takeover includes a winter tire set.
Insider Tip: A set of winter tires costs $800-1,500. If the lease doesn't include them, negotiate with the seller to include them or provide a cash incentive to purchase your own.
Lease transfer fees in Ontario range from $300-800 depending on the brand. Toyota and Honda typically charge lower fees ($300-500), while luxury brands like BMW, Mercedes, and Audi charge $600-800.
Insider Tip: Some sellers pay the transfer fee as part of the deal. Always clarify who pays the transfer fee before committing.
Always run a CARFAX or AutoCheck report before taking over a lease. This reveals accident history, service records, and odometer discrepancies. In Toronto's busy market, some sellers may hide accident damage.
Insider Tip: A vehicle history report costs $40-60 and could save you thousands by revealing hidden problems. Never skip this step, even for nearly-new vehicles.
Most leasing companies in Ontario require a minimum credit score of 650-680 for lease takeover approval. Some luxury brands like BMW and Mercedes may require scores of 700+. If you're new to Canada or building credit, you may need a co-signer or larger security deposit. Check our FAQ page for more details.
Expect to pay the lease transfer fee ($300-800), first month's payment, insurance, and sometimes a security deposit. Total upfront costs typically range from $1,000-2,500. Some sellers offer cash incentives of $500-3,000 which can offset or eliminate these costs.
Be aware of potential fees including lease transfer fee, excess wear-and-tear charges at lease-end, excess kilometer charges, dealer documentation fees, and early termination fees if you need to exit the lease early. Always read the full lease contract before signing.
You have three options: return the vehicle, purchase it for the predetermined residual value, or negotiate to lease or finance a different vehicle. Inspect the car for excess wear before return to avoid unexpected charges. Normal wear includes minor scratches and small chips.
Yes, but it may be more challenging without Canadian credit history. Some options include: providing a larger security deposit, getting a Canadian co-signer, showing proof of stable employment and income, or building credit with a secured credit card before applying for the lease transfer.
December through March typically offers the best selection as many people transfer leases before year-end for tax purposes or after receiving holiday bonuses. However, spring and summer see higher demand, so you may find better incentives in winter months when demand is lower. Similar patterns occur in other cities like Vancouver and Montreal.