Can You Lease a Used Car?

Are you considering an upgrade to your Merced commute? For those on a tight budget, a pre-owned convertible or car can be an excellent option to choose. If you don’t want to buy a vehicle, you might ask, “Can you lease a used car?” Used car leasing is provided by many manufacturers, though it’s not as promoted as new car leasing. As the premiere used car dealer in Merced, Merced AR answers the question, “Can you lease a used car?” in greater detail below!

Used Car Leasing Facts

In general, many manufacturers only allow certified pre-owned vehicles for leasing. While different automakers have different standards, most CPO vehicles must be less than a few model years old and have to be before a certain mileage limit. If you plan to lease a certified used vehicle, you must visit a franchised dealership.

According to the National Automobile Dealers Association (NADA), the list of manufacturers that offer CPO leasing is the following: 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 the same process as leasing a new car. The difference between your vehicle’s sale price and its estimated value at the lease end will determine the monthly lease payment. 

This is a benefit for Los Banos shoppers, as used vehicles depreciate more gradually than new cars, so the difference between your sales price and estimated lease-end value will be smaller and you will have lower monthly payments.

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

Benefits of a Used Car Lease

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

Contact Us With More Used Car Leasing Questions

Now that you know about leasing a used car, Merced AR is the place to find your next vehicle around Atwater. If you’re not sure about the model you want, use our vehicle finder service to sort through what’s available. For those who want to know more about what to find in a used vehicle, check out our tips. Experience the benefits of a reliable pre-owned car in Merced with Merced AR!