Can You Lease a Used Car?

Lease Agreement

 

Are you in need of an upgrade when it comes to your commute from Bellaire to Kalkaska? If so, Serra Traverse City is the ideal shopping partner for you! We carry new and used cars from across the automotive industry at all of our dealerships located throughout Traverse City. If you’re shopping on a budget, a pre-owned model is often your best bet. You can find nearly-new certified pre-owned options and even bargain models when you look to the used market.

But, what do you do if you need a vehicle, but don’t want to commit to a long-term purchase? This may lead you to ask, “Can you lease a used car?” Used car leasing is an option, but you’ll want to weigh the pros and cons before you opt for this method. Luckily, Serra Traverse City is here to offer the expert insight you need to make an informed decision. Read on with us below to learn more about used car leasing!

Used Car Leasing Facts

In most cases, car manufacturers only allow certified pre-owned vehicles to be leased. Generally, CPO vehicles are low mileage and must have been produced within a few years of the latest models. Along with that, CPO vehicles come with strong warranty backing and are in pristine shape. That said, to secure the keys to a CPO model lease, you’ll need to visit a certified dealership like the ones within our Serra Traverse City auto family. 

The National Automobile Dealers Association (NADA) lists the following manufacturers as brands that offer CPO leasing: 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?

If you’ve leased a new car, then you’ll be familiar with the process of leasing a CPO model. Since the difference between the sale price of the vehicle and its estimated value at lease end sets your payments, you’ll be able to comfortably budget for your monthly car bill. 

Just like leasing a new car, at the end of your term, you’ll return your lease to our dealership. Our team will evaluate the vehicle to ensure you adhered to your mileage limits and the other conditions of your lease agreement. 

Benefits of a Used Car Lease

  • Monthly Payment Amount: As we hinted at above, leasing a CPO model is much more affordable than leasing or buying a new model.
  • Potential for Lease Buyout: Since the vehicle you leased was pre-owned, its value will be lower at lease end than you might expect. This affords you the opportunity to buy your vehicle for a competitive rate if you’re not ready to let it go! 
  • Lower Insurance Rates: Insurance coverage rates are largely based on the value of your vehicle. So, leasing a less expensive CPO model will help you save on insurance each month!

Upgrade Your Travels Today!

Now that you can answer the question, “Can you lease a used car?” you may be ready to learn more about car buying. We offer a host of tips to help you determine the differences between used and CPO models and much more! If you’re considering a purchase, learn how to buy a new car with our team. No matter what approach you choose for your automotive upgrade, Serra Traverse City will guide you through every step!

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