Can You Lease A Used Car?

car for sale sign on a used vehicle

 

You can lease a brand new vehicle, but can you lease a used car in Springfield and Dayton? The answer depends on several factors, but used car leasing is possible at many dealerships. While it’s not advertised as often as new car leasing, used car leasing can be a great way to enjoy a quality vehicle at a budget-friendly price. Find out more about the process with Dave Arbogast Buick GMC, and visit our dealership in Troy today.

 

 

What Vehicles Qualify for Used Car Leasing?

Generally speaking, you’ll only find new and certified pre-owned (CPO) models available for lease. A CPO is a lightly used vehicle within current 6 model years with a maximum of 75,000 vehicle miles, and it must pass a 172-point inspection process with a clean title. Because you can only lease a certified model, you’ll need to visit a franchised dealership like Dave Arbogast Buick GMC to take advantage of used car leasing.

According to the National Automobile Dealers Association (NADA), the list of manufacturers which 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 used car is similar to leasing a new car, but there are a few distinct advantages. In all cases, the lender will compare the sale price of the vehicle at the beginning of the lease to its estimated value at lease-end. The difference between these two figures helps to determine the monthly payments.

This can be a huge benefit for those who have lower priced vehicles, like a used car. While a new car will depreciate very quickly during the lease contract, a used car will lose its value much slower. That means the difference between the sale price and estimated lease-end value is much smaller – and your payments will be smaller as well!

Benefits of a Used Car Lease

  • Monthly Payment Amount: A used car lease is typically much less expensive than a new car lease, so you can save a lot of money while driving a great car around Sidney.
  • Potential for Lease Buyout: If you want to keep your car at the end of the lease, you’ll find that the lease buyout is a much more affordable option due to the lower estimated lease-end value.
  • Lower Insurance Rates: Since car insurance is based on your car’s value, your used car lease might have a surprisingly affordable insurance rate.

Find Out More with Dave Arbogast Buick GMC

So, can you lease a used car? Find out all about your options at Dave Arbogast Buick GMC with our sales experts, and drive away with the vehicle of your dreams. Whether that’s a used Ford, GMC, or something else. Contact us to get started!

 

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Dave Arbogast Buick GMC 39.98677, -84.20253.