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Can You Lease a Used Car?

2020 Chevrolet Camaro Pair

A lot of Broken Arrow drivers turn to a used vehicle inventory to save on their next vehicle purchase. But did you know that used car leasing is also an option? Leasing is a great way to save money or test out a car before you decide to buy it. If you want to know more about the question, “Can you lease a used car?”, read more details below from Jim Glover Chevrolet!

Used Car Leasing Info 

It’s most common that used car leasing is offered on Certified Pre-Owned vehicles. CPO vehicles are generally fewer than 4 model years old, with under 48,000 miles on the odometer They go through an inspection process approved by the car’s manufacturer, so Owasso drivers know that they’re getting a quality used vehicle. 

The National Automobile Dealers Association (NADA),tells us that the following carmakers do CPO leases: 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 to Lease a Used Car 

If you’re ever asking yourself whether to buy or lease in Owasso, you have probably looked into the leasing process. Used vehicle leasing works in pretty much the same way as leasing a new vehicle; the estimated value of a vehicle at the end of a lease determines what your monthly payments will be.

The advantage of used car leasing is that used vehicles don’t depreciate rapidly like new vehicles. This means the sale price and the end-of-lease value will be closer, and your monthly payments will consequently be smaller. 

Like with other leases, used car leasing has its limits set by the dealer for mileage, customization, and more. 

Benefits of a Used Car Lease

“Can you lease a used car” and “Should you lease a used car?” are different questions. So, what will factor in your decision to lease a used car? Here are some benefits: 

  • Lower Monthly Payments: As we covered above, used car leasing is cheaper than new car leasing. 
  • Lower Insurance Rates: Because insurance costs are also based upon the car’s value, you’ll get lower insurance payments as well. 
  • Good Opportunity for Lease Buyout: If you’re hoping for a lease buyout, you can get a low price when you lease a used car. 

Contact Jim Glover Chevrolet for Car Buying Tips!

Still wondering about the best way to go when it comes to car leasing? The finance center at Jim Glover Chevrolet can help! Tulsa drivers can turn to our car buying tips for more information on car leasing, car buying, and more. And please contact us today with any questions you might have!

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