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Can You Lease a Used Car?

car lease

Did you know that it is possible to lease a used car? While leasing a used car isn’t common, some dealerships do give you the chance to do so. Usually, the used cars that are available for lease are certified pre-owned models. There are a few brands that do not offer used car leases, so depending on the model you desire, it may not be an option even if it is something the dealership offers. To inquire about leasing a used model, do not hesitate to contact Don Franklin Auto.

The Basics of Used Car Leasing

If you like the freedom of a lease, but you are still looking for something that is a little more affordable than a brand new car, you may want to consider a used car lease. You will want to keep the following information in mind before you decide to do so.

  • Which Used Cars Can Be Leased? – Most used car leases are only offered for certified pre-owned vehicles. There is a good chance that you will not see used lease prices advertised by the dealership, so if you want to see if leasing a used car is a possibility, it is best to contact the dealership.
  • Used vs. New Car Lease – What’s great about a used car lease is that your monthly payments will typically be lower than what they would be if you leased a new car, but you still get to take advantage of several of the same leasing benefits. Keep in mind that you are still required to return the vehicle once the lease is up, and you are also still restricted by mileage limits.
  • Can I Buy a Used Car After I Lease? – When a dealership offers used car leases, they also allow you to purchase the vehicle when the terms of the lease are complete. That gives you a lower residual value than performing a lease buyout on a newer model.
  • Insurance for a Leased Used Car – When determining insurance costs, the value of the vehicle is taken into account. Because of this, there is a good chance you could pay less per month for insurance with a CPO lease.

It may be a bit more expensive to maintain a CPO vehicle, but they typically come with the benefit of an extended warranty. You won’t have to worry about out of pocket expenses for covered components.

Don Franklin Auto Makes Leasing Hassle-Free

If you have additional questions about leasing a used car or new vehicle, be sure to contact the team at Don Franklin Auto. We would be glad to assist you. In the meantime, take a look at our current specials to help you save even more.

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