Can You Lease a Used Car?

Yes, you can lease a used car! Big Lake drivers should know that used car leasing is limited to a Certified Pre-Owned Inventory. These vehicles are used, but inspected by the manufacturer to ensure quality. The finance center at Cornerstone Chevrolet covers the question, “Can you lease a used car?” and more CPO info below!

The Perks of Used Car Leasing

At the outset, St. Michael drivers should know a few reasons why people pursue used car leasing. There’s the question of “Can you lease a used car?” and the question of “should you lease a used car?” Let’s look at some perks:

• Lower Monthly Payments: As you might expect, a used car lease can get you lower monthly payments than a new car lease on the same model.
• Lease Buyout Options: A lease buyout is when someone decides they like their leased vehicle enough to buy it. This cost will be lower with a used vehicle lease.
• Lower Insurance Rates: Insurance rates are partially calculated using car value, so even those will be lower with used car leasing!

How Does Used Car Leasing Work?

Used car leasing works pretty much the same way that new car leasing works. The monthly lease payment is calculated by a Buffalo-area finance center by looking at the difference between the sale price and the estimated value at lease-end. The difference in used car leasing is in numbers. Used cars depreciate at a slower rate than new cars, so the difference between those two numbers will be smaller, resulting in a lower lease payment.

Like with any lease, yours will come with some limitations: a set lease term, mileage limits, and obligations to keep the car in good condition.

Can You Lease a Used Car?: CPO Benefits 

As noted above, in most cases it’s Certified Pre-Owned vehicles that apply to used car leasing. So, what are the benefits of CPO vehicles? The CPO vehicles used for leasing are generally 4 years old or younger, and have a maximum of 48,000 miles on the odometer. Even if you finance these vehicles, there are lots of reasons to check out a CPO inventory like that at Cornerstone Chevrolet.

According to the National Automobile Dealers Association (NADA), the following manufacturers offer CPO leases: 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.

Not yet reflected in NADA’s list of CPO-lease-friendly manufacturers is GM, which introduced its CPO lease program in 2016. This means CPO Chevrolet, Buick, GMC, and Cadillac vehicles can also be leased at select dealerships!

Get Car Leasing and Financing with Cornerstone Chevrolet

At Cornerstone Chevrolet, we are dedicated to helping Monticello-area drivers find the car they love without any hassle. Our finance center has useful online tools like a payment calculator and a team of experts ready to answer any questions you may have about used car leasing and more. Please contact us to find out more about your options for car leasing and financing!