You're getting ready to step up to a new-to-you vehicle, and although buying used can be a fantastic option, it's often expensive to purchase a vehicle outright. While you can definitely buy used and obtain used car purchase financing -- and even shop our used specials to save more -- ultimately, leasing is often cheaper monthly than buying. This leads many savvy Kaukauna car & truck shoppers to wonder, "can you lease a used car?". While the answer is "yes," it's not as common as leasing a new car. Want to learn if we have any used vehicle for lease? Just contact us! We'll be happy to help.
What to Know About Used Car Leasing near Neenah
Many automotive manufacturers only allow certified pre-owned (aka certified used) vehicles to be leased. Generally speaking, CPO vehicles available for a lease must:
- Be no more than 4 model years old
- Have less no more than 48,000 miles on the odometer
Looking to lease a certified used car, truck, or SUV in Oshkosh or Manitowoc? You'll very likely have to entrust a franchised dealership like Kolosso CDJR to help.
According to the National Automobile Dealers Association (NADA), the list of manufacturers that 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.
More on Used Car Leasing: How Does it Work?
Can you lease a used car? Now you know that in some instances, the answer is yes, especially if it's a certified used car. There's a similar overall leasing process to leasing a new car. Namely, the lease cost will be taken from the difference between the vehicle's sale price and its estimated value at lease-end. That number will determine the monthly lease payment.
Since used vehicles depreciate more slowly than new cars, the difference between the sale price and estimated lease-end value will likely be smaller, and your monthly payments will most likely be lower!
Also, similar to new car leasing, when your CPO or used lease ends, you will have to return your leased vehicle to the dealership in a similar condition to what it was when you received it or face excess wear charges. There will also be mileage limits you will want to adhere to or pay excess mileage penalties.
What are the Benefits of a Used Car Lease?
- Monthly Payments: CPO lease payments are usually much cheaper than new lease payments. Both can be cheaper than used car financing payments.
- Potential for Lease Buyout: The estimated value of a used vehicle will be lower at lease-end than a new vehicle, which could make a lease buyout more affordable if you plan on leasing for lower monthly payments only to purchase the vehicle later.
- Insurance Rates: CPO leases will likely get you a lower insurance premium cost since how much you pay for insurance largely relates to the price of your vehicle and its actual cash value or replacement cost.
Contact Us to Learn More About New or Used Car Leasing
Still wondering how much it could be for you to lease that used or certified pre-owned Chrysler, Dodge, Jeep, or RAM you've had your eye on for some time now? Give us a call or reach out online after browsing our used inventory or CPO inventory and applying for financing!