Can You Lease A Used Car?

Looking to make an upgrade to your Arista commute? If you’re shopping with a tight budget in mind, used or certified pre-owned vehicles are excellent options to consider. But maybe you’re not quite ready to invest in buying a car outright at the moment. Fortunately, used car leasing is offered by many manufacturers, although it is typically not as widely advertised as new car leasing. Our team at Don Franklin Chevrolet Campbellsville has broken down everything you need to know about leasing a pre-owned car, truck, or SUV below.

Used Car Leasing Facts

Most manufacturers only lease certified pre-owned vehicles. As a general rule, the CPO vehicles available for leasing must be fewer than 4 model years old and have less than 48,000 miles on their odometer. If you want to lease a certified used vehicle, you’ll need to visit a franchised dealership, such as Don Franklin Chevrolet Campbellsville, as certified pre-owned cars are only available at franchised dealerships.

According to the National Automobile Dealers Association (NADA), the list of manufacturers that are said to offer CPO leasing includes 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.

How Does Used Car Leasing Work?

Leasing a certified used vehicle follows a similar process to renting a new car. The difference between the sale price of the vehicle and its estimated value at the end of the lease will determine the monthly lease payment.

This situation poses a benefit for Elk Horn shoppers, as used cars depreciate more slowly than new cars. The difference between the sale price and the estimated lease-end value will be negligible, resulting in lower monthly payments.

Similar to new car leasing, when your CPO lease ends, you will need to return it to the dealership. There will also be mileage limits you will need to adhere to.

Benefits Of A Used Car Lease

• Monthly Payment Amount: As noted above, you can lease a used car for a lower monthly payment than you would for a new car.
• Potential for Lease Buyout: The estimated value of a used vehicle will be lower at lease-end when compared to a new car, which could make a lease buyout more affordable when you reach the end of your lease term.
• Lower Insurance Rates: There’s a good chance you can get a lower car insurance rate with a CPO lease, as insurance costs are based on the car’s value.

Lease A Used Vehicle At Our Campbellsville Dealership

Do you still have questions about leasing a used car? Contact us for more information on how the process works at our dealership, conveniently located in the heart of the greater Wrights region. Our financiers are always happy to help you find the most advantageous car-buying solution that perfectly fits your needs!