Can You Lease a Used Car?

Used cars on a lot
 

If you are looking to improve your Wheeling commute, browsing our selection of used and certified pre-owned models is a great way to secure the keys to an incredible ride without breaking the bank. Shopping pre-owned is a great way to save, but you still may be wary of a long-term commitment. If you are a savvy shopper, you may be wondering, “can you lease a used car?”.

Used car leasing is a possibility, though it is less common than signing a new car lease agreement. Below, our Straub Nissan will cover what you need to know about used car leasing, so you can shop for your Moundsville ride like a pro! 

 

Used Car Leasing Facts

For the most part, automakers only allow certified pre-owned models to be leased. Nissan CPO vehicles must be six years old or newer, with fewer than 80,000 miles logged. So, if you want to lease a certified used Nissan, you would have to work with a franchised dealership like Straub Nissan to get the deal done. 

According to the National Automobile Dealers Association (NADA), automakers who offer CPO leasing include 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?

The process of actually leasing a CPO model is quite similar to the one followed for new car leasing. The difference between the sale price of the vehicle and the estimated lease-end value will set your monthly payment. 

This is a great benefit as your used car will depreciate slowly as you traverse the Steubenville streets. This means that the difference between the sale price and the value at the end of your lease will be smaller, and your monthly obligation will be lower. Similar to a new car lease agreement, once your term is up, you must return your CPO lease and adhere to mileage limits and other restrictions.

Benefits of a Used Car Lease

  • Monthly Payment Amount: As previously mentioned, used car leasing offers a tremendously affordable monthly car bill. 
  • Potential for Lease Buyout: Since the value of a used model will be lower at the end of a lease than a new vehicle, a buyout can be quite affordable.
  • Lower Insurance Rates: Due to insurance costs being partially dependent upon the value of a vehicle, a used car lease offers a chance to save on your car insurance. 

Learn More With Straub Nissan

Now that you can answer the question, “can you lease a used car?” you can shop with confidence. Our Triadelphia finance team is standing by to help you get behind the wheel of a spectacular new-to-you model without busting your budget. If you have any lingering questions about used car leasing, contact us to start a conversation about your upgrade!

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