Can You Lease a Used Car?

October 12th, 2018 by

2017 Nissan Juke

Typically, you see leasing options with new cars, but some dealerships do offer used car leasing. Vehicles available for lease are usually part of a certified pre-owned program. If you have questions about leasing a particular vehicle, it’s always a good idea to contact the finance team at a dealership.

Understanding Used Car Leasing

If you’re looking for low monthly payments and the freedom a lease provides, then leasing a used car may be a good option for you. Here are some key things to know about used car leasing:

  • Which Used Cars Can Be Leased? – Most used car leases are offered only on certified pre-owned vehicles. Used lease prices may not be advertised, so it’s a good idea to ask us either through email or while in or showroom to see if it’s a possibility.
  • Used vs. New Car Lease – Used car lease payments typically cost less than new car lease payments, but offer many of the same benefits. That being said, you’ll still need to return the vehicle after the lease term is up, and you’ll still need to stay below the mileage limits.
  • Can I Buy a Used Car After I Lease? – If a dealership offers used car leases, there’s a good chance you’ll be able to purchase the car after the lease is up if you’d rather not trade it in. That gives you a lower residual value than performing a lease buyout on a newer model.
  • Insurance for a Leased Used Car – The value of the vehicle partially dictates insurance costs, so it’s possible that you could pay less per month for insurance with a CPO lease.
  • Maintaining Your Used Vehicle – While maintenance costs can be higher on a used car, used car leasing often includes extended warranty coverage that covers many important components.

Find Out More About Leasing at Wolfchase Nissan

We offer a variety of lease deals and incentives in Bartlett on Nissan. If you want to learn more about used car leasing, lease buyouts, or leasing in general, contact us online or visit our showroom, not far from Cordova, to speak to a member of our finance team.

Black Used Car with Price on Window
Car Key and Pen on Contract

 

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Posted in Finance, Leasing, Used Cars