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Can You Lease a Used Car?

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Are you looking to upgrade your commute in Salt Lake City? Maybe you prefer to keep a tight budget on your West Valley City vehicles, well used or certified pre-owned vehicles are great options to consider. If you aren’t sure if you are ready to invest in buying a car right now. You may be curious, “Can you lease a used car?” Many manufacturers offer used car leasing, although it isn’t usually advertised as often as new car leasing. IPrestman Auto put together a guide covering everything you need to know about used car leasing in Salt Lake City.

 

 

Used Car Leasing: Details

According to the National Automobile Dealers Association (NADA), the list of manufacturers which are said to offer CPO leasing includes Jeep, Kia, Lexus, Lincoln, Mazda, Mercedes-Benz Acura, Audi, BMW, Chrysler, Dodge, Ferrari, FIAT, Honda, Hyundai, INFINITI, MINI, Mitsubishi, Nissan, Porsche, RAM, Toyota, Volkswagen, and Volvo.

Usually, manufacturers only allow certified pre-owned models to be used for leasing. While the specifics vary, generally the CPO vehicles available from West Jordan manufacturers must be fewer than 4 model years old and have less than 48,000 miles on their odometer. In this case, if you are looking to lease a used vehicle, you will have to visit a franchised dealership similar to those that are a part of Prestman Auto, because you will only find certified pre-owned vehicles at franchised dealerships.

Used Car Leasing: How Does it Work?

Leasing isn’t too different whether it’s a new vehicle or a certified pre-owned vehicle. The main difference is the sale price of the vehicle and the estimated value at lease-end – which will determine the monthly lease payment.

West Valley City shoppers can find an advantage here as used cars depreciate more slowly than new cars. This means the difference between the sale price and the estimated lease-end value may be smaller, and your monthly payments will be lower.

Just like when you lease a new car, the end of your lease means you will need to return your CPO lease to the dealership. There are also some mileage limits that you will need to adhere to as you navigate the roads of West Jordan.

What Are the Benefits of a Used Car Lease?

There are a few main points that we think benefit Orem area shoppers. Those being:

  • Monthly Payment Amount: As we mentioned above, you can lease a used car for a lower monthly amount than you would a new car.
  • Potential for Lease Buyout: The estimated value of a used vehicle will be lower at lease-end in comparison to that of a new vehicle, this could potentially make a lease buyout more affordable when you reach the end of your lease term.
  • Lower Insurance Rates: There’s also a good chance you can get a lower car insurance rate with a CPO lease, as insurance costs are partially based on the car’s value.

Contact Us at Prestman Auto With Questions!

Do you still have questions about used car leasing? Contact us or drop by for a visit in Salt Lake City for more information about the process and how it works at our dealership serving the greater West Jordan area. You can chat with our finance team to get the help you need to secure the most advantageous car-buying solution for your needs!

 

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