Can You Lease a Used Car?

car lease

Did you know that some dealerships enable customers to lease a used vehicle? This may be not as common as leasing a new model, but this can be another viable option for Providence drivers looking to get behind the wheel of their favorite Acura model. Leasing a used car is typically part of a dealership’s certified pre-own program. It’s important to note that the only brands that don’t offer used leases are Ford, Buick, Chevrolet, Cadillac, and GMC.

Used Car Leasing Facts

Deciding on a used car lease can be a great choice if you’re looking for a lower monthly payment, or don’t want to be constricted by a traditional lease. If this seems to be like a viable option for you, then here are some common facts about used car leasing that Warwick customers should know:

  • Which Used Cars Can Be Leased? – Most used car leases are only offered for certified pre-owned vehicles. Used lease prices may not be advertised, so it’s a good idea to contact us to find out if it’s a possibility.
  • Used vs. New Car Lease – A used car lease will usually cost less than new car monthly lease payments, but offer many of the same benefits. You’ll still need to return the vehicle after the lease term is up, and you’ll still need to meet mileage limits.
  • Can I Buy a Used Car After I Lease? – If a dealership offers used car leases, it’s a safe bet you’ll be able to purchase the car after the lease is up. That gives you a lower residual value than performing a lease buyout on a newer model.
  • Insurance for a Leased Used Car – Insurance costs are partly dictated by the value of the car. It’s possible that you could pay less per month for insurance with a CPO lease.
  • Does a Used Car Lease come with a Warranty? – While maintenance costs tend to be higher on a certified pre-owned car, they often include an extended warranty that covers many important components.

Learn More About Leasing

Cranston drivers looking to lease a used car should view our inventory of used and certified pre-owned vehicles to find the model that suits you. And, don’t hesitate to contact us to speak with a dedicated member of our finance team if you have questions! Learn more about financing, gap insurance, used car financing coverage, liability insurance coverage, good mileage for a used car, how to refinance a car loanand how to trade in a car today.

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