Can You Lease a Used Car?

Woman Signing Paperwork

If a brand new vehicle is not in the budget, but you want a vehicle you can depend on for many years to come, you may be wondering about used car leasing. Can you lease a used car? The answer to this question is yes! With used car leasing, you can enjoy the flexibility of leasing while driving an affordable automobile in like-new condition. Learn more about used car leasing below in this guide from Genesis Alfa Romeo.

The Facts About Used Car Leasing

If a dealership has an excess inventory of leased vehicles that have been returned in pristine condition, these vehicles may be offered with a used car lease. Most manufacturers only allow certified pre-owned vehicles to be leased, though. CPO models are generally only found at franchised dealerships. If you are interested in used car leasing, you will need to shop at a franchised dealer like Genesis Alfa Romeo.

How Does Used Car Leasing Work?

Used car leasing is very similar to new car leasing. When the terms of the lease are complete, you will bring the vehicle back to the dealership. You will also need to stick to the set mileage limits. The difference between the sale price of the vehicle and its estimated value at lease-end will determine the monthly lease payment. This is what makes used car leasing so beneficial to Utica and Sterling Heights drivers.

New cars depreciate much more rapidly than used cars. Because of this, the difference between the sale price and estimated lease-end value will be smaller with used car leasing. You can take advantage of lower monthly payments and still drive a car in like-new condition.

Benefits of Used Car Leasing

  • Monthly Payments are More Affordable: While leasing is already an affordable alternative to traditional financing, used car leasing saves you even more each month.
  • You Can Opt for a Lease Buyout: The estimated value of a used vehicle will be lower at lease-end when compared to a new vehicle. This in turn means that a lease buyout could be quite budget-friendly.
  • Your Insurance Costs are Lower: Insurance costs are partially based on the car’s value, so because used cars are cheaper than new models, the insurance costs associated with used car leasing are also more affordable.

Contact Genesis Alfa Romeo for More Information About Used Car Leasing

Can you lease a used car at Genesis Alfa Romeo? We invite you to contact us for more information about this attractive option. We can’t wait to help you find a vehicle that exceeds your expectations but not your budget.

 

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