Can You Lease a Used Car?
Hoping to upgrade your daily commutes and weekend adventures with a used or pre-owned vehicle that won’t break your tight budget? If you’re not quite sure about buying a car outright, you may consider a lease and wonder, “Can you lease a used car?” Used car leasing is available from many auto manufacturers, though it’s not nearly as heavily advertised as many new vehicle leases. Check out our quick guide below, then contact us today for more information and to arrange your test drive!
Used Car Leasing Highlights
Many vehicle manufacturers allow only certified used vehicle leasing. Generally, certified pre-owned cars available for lease are less than 4 model years old and carry less than 48,000 miles on their odometer. Therefore, if you’re hoping to lease a certified pre-owned vehicle, you’ll need to lease with a franchised dealership, where you can find certified pre-owned/certified used cars.
The National Automobile Dealers Association (NADA) reports that the manufacturers that offer CPO leasing include: Acura, Audi, BMW, Chrysler, Dodge, Ferrari, FIAT, Honda, Hyundai, INFINITI, Jeep, Kia, Lexus, Lincoln, Mazda, Mercedes-Benz, MINI, Mitsubishi, Nissan, Porsche, RAM, Toyota, Volkswagen, and Volvo.
Used Car Leasing
Certified used car leasing adheres to a fairly similar process when compared to new car leasing. The main differences lie in the vehicle sale price and the estimated vehicle value at the end of the lease that will ultimately affect the monthly vehicle lease payment. This benefits local drivers as used vehicles depreciate more slowly compared to new vehicles, so the difference between the estimated lease-end value and the sale price will be smaller and your monthly vehicle payments will be reduced.
As with new vehicle leasing, you’ll need to return your certified pre-owned vehicle to the dealership when your CPO lease ends. You’ll also want to adhere to vehicle mileage limits.
Used Car Lease Benefits
- Lower monthly payments
- Lease buyout potential
- Decreased insurance rates
- Top quality inventory
- Access to innovative features for less
- And much more!
Contact Chevrolet Center with Questions!
Have more questions about used car leasing? Our expert finance team is here to assist you with the new and used car leasing process, as well as much more, such as pre-owned specials. Contact us today to learn more and to arrange a test drive!