Can You Lease a Used Car?

January 20th, 2019 by

couple getting keys from salesman

‘Can You Lease a Used Car?’ That’s a surprisingly common question, and it isn’t hard to see why; used-car leases are rarely advertised and aren’t available at all dealerships. Be that as it may, you can absolutely lease a used car. There are a handful of specifics that go into used car leasing. For example, makes like Ford, Buick, Chevrolet, Cadillac, and GMC do not offer used car leases, so make sure to speak with your dealership to see what they offer. Visit Sterling Acura of Austin, your Buda-area Acura dealership to learn more today!

Used Car Leasing Facts

What Type of Used Cars Can Typically Be Leased?

You might have heard of certified pre-owned (CPO) vehicles. These are usually less than 4 years old with fewer than 48,000 miles on the odometer, and they’re the most common option for used-car leases. Different dealerships have different methods for used car leasing, so contact us with any questions.

What’s the Difference Between New and Used Leasing?

Used-car leases work just like new-car leases. The lender determines the vehicle’s residual value and then puts together monthly payments over a set term. Monthly payments should be significantly lower than with new-car leases.

Can You Purchase at the End of a Used Car Lease?

Yes! There’s a very good chance that if the dealership offers used car leases, then they also allow you to buy the car at the end of the lease term. Used-car leases are great candidates for lease-end purchases since the buyout price will generally be fairly affordable.

What Insurance Options Are Available for Used Car Leases?

Used cars are slightly more likely to need repairs, and one common downside of use-car leases is a lack of standard warranty coverage. It’s a good idea to avoid the risk future repair costs by purchasing a comprehensive bumper-to-bumper warranty for the whole lease term.

Contact Us Today to Find Out More About Leasing a Used Car

Whether you want to explore vehicles under $10,000 or talk about used-car leases, our team can help. Simply contact us today, or visit us in Austin to speak with our finance department. And, if you decide that financing is a better option but you don’t know where to start, we’re here to help you learn how car financing works.

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Posted in Leasing