Can You Lease a Used Car?

Can you lease a used car for your St. Marys and State College drives? Learn when used car leasing is an option and whether it’s the best choice for you in the guide below! The leasing and financing center at Spitzer Autoworld DuBois Cadillac is here to help you get into the right vehicle for a price you can afford.

Used Car Leasing Facts

You’ll find that most manufacturers only allow used car leasing on their certified pre-owned (CPO) vehicles. For used car leasing, a CPO model often needs to be less than four model years old and have less than 48,000 miles. As you may already know, certified pre-owned vehicles are only available at franchised dealerships. Thus, used car leasing is also only available at franchised dealerships.

Used Car Leasing: How it Works

So, you’ve found a certified pre-owned vehicle you want to lease. How does certified used car leasing work? If you’re familiar with new car leasing, you should find that used car leasing is much the same! The difference in the vehicle’s sale price and estimated end-of-lease value determines the monthly lease amount.

This can be a benefit for Altoona used car lessees. Why? Used cars typically depreciate at a slower rate than new cars. Thus, the difference between the sale price and the estimated lease-end value should be smaller and your monthly payment will be lower.

As with a new car lease, you’ll simply return your certified used car lease to the dealership when the lease is over. You’ll also still have a mileage limit in your lease contract that you must adhere to.

Benefits of Used Car Leasing

Leasing a certified used car may be possible, but is it a good idea? Consider these benefits:

• Monthly Payment Amount: As we explained, you can usually get a more affordable monthly payment when you lease a used car as opposed to leasing a new car.

• Potential for Lease Buyout: Just like a new car lease, you can buy out your used car lease when it’s over. The lease-end value of a used car will be lower than a new car so the buyout could be more affordable.

• Lower Insurance Rates: Often, you can get a lower insurance rate on a certified pre-owned car, because the rates are partially determined by the car’s value.

Ask Us About Your Options

Can you lease a used car at Spitzer Autoworld DuBois Cadillac? Contact us to learn whether this is a possibility. We offer numerous flexible options at our dealership, so there may be workable alternatives to consider.