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Can You Lease a Used Car?

2020 Jeep Cherokee models

 

Broken Arrow drivers who are on a tight budget or purchasing their first vehicle might be more inclined to choose a certified pre-owned or used vehicle option. So, can you lease a used car? Many manufacturers offer used car leasing for Tulsa drivers who are worried about their budgets. Read on to learn more about used car leasing facts with Jim Glover Dodge Chrysler Jeep Ram FIAT in Owasso! 

Used Car Leasing Facts

Throughout Collinsville, you’ll notice that many manufacturers typically only offer a version of used car leasing to certified pre-owned vehicles. CPO vehicles are always 4 model years or less and have lower than 48K miles. So, if you’re interested in leasing a certified pre-owned vehicle, you’ll need to take a trip to any franchised dealership in the Owasso area to start the process. 

According to the National Automobile Dealers Association (NADA), the list of manufacturers which are said to offer CPO leasing includes 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? 

When it comes to used car leasing, it’s a pretty similar process to the leasing of new vehicles. The main difference between the sale price of a used car and estimated value at lease-end will always determine your monthly lease payment. 

This is a huge benefit for any shopper! As soon as a used car leaves a lot, it slowly depreciates over time, slower than new cars. When it comes to the difference of the sale price vs. estimated lease-end value will be smaller and your payments each month will be lower. 

Similar to new car leasing, as soon as your lease ends you’ll need to return the certified pre-owned vehicle to the dealership. The miles on the odometer cannot be more than your agreement.

Benefits of a Used Car Leasing 

  • Monthly Payment Amount: Your payments each month will be lower when you lease a used car.
  • Potential for Lease Buyout: At the lease-end, your estimated value will be lower which will make your lease buyout more affordable once the term ends. 
  • Lower Insurance Rates: You can get a lower car insurance rate because it’s based off the car’s value. 

Contact Us With Questions

Now that you know how used car leasing works, contact us with any further questions! We’d be happy to help with your financing needs.

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10505 N Owasso Expy • Owasso, OK 74055

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Jim Glover Dodge Chrysler Jeep Ram FIAT 36.278560, -95.845670.