Can You Lease a Used Car?
The low purchase price of a used car makes it an attractive option for many drivers in the Central Illinois area. But, can you lease a used car? While used car leasing is available, it is typically only offered with certified pre-owned (CPO) vehicles. Learn more in this used car leasing guide from Sam Leman Automotive Group, then explore our vast inventory of used cars, trucks, and SUVs online to find a vehicle that is the best fit with your lifestyle and your budget.
Used Car Leasing
Before deciding whether used car leasing is right for you, consider the following:
- Used vs. New Car Lease – Used car leasing comes with the same restrictions that are included in a new car lease. For example, you’ll still have a preset mileage limit and will need to return the vehicle in the same condition as you received it at the end of the lease.
- Which Used Cars Can Be Leased? – As mentioned previously, a used car lease option is usually only offered for certified pre-owned vehicles. However, you should note that certain brands such as Ford, Buick, Chevrolet, Cadillac, and GMC do not explicitly offer pre-owned vehicle leasing. Used car lease prices are not always advertised, so you should contact the dealership to find out if it’s a possibility.
- Can I Buy a Used Car After I Lease? – As with a new car lease, you’ll have the option to purchase the vehicle after the lease term is completed. Since a used car will have a lower residual value, you’ll pay less than you would for a lease buyout on a new car.
- Insurance for a Leased Used Car – Insurance rates are partially determined by the value of the car, so you will most likely pay less per month for insurance with a CPO lease.
While there are some attractive benefits to leasing a used or certified pre-owned car, you should remember that the maintenance costs on a used vehicle generally tend to be higher. To offset that, most CPO vehicle programs include warranty coverage for replacement auto parts and routine maintenance services.
Learn More About Used Car Leasing at Sam Leman Automotive Group
Can you lease a used car? Yes, it is possible but usually only with certified pre-owned vehicles. At Sam Leman Automotive Group, we have a huge selection of high-quality used and CPO vehicles in stock, along with a fine selection of used cars that are priced under $10,000. Make sure to take a look at our used vehicle specials, and contact us if you have any questions.
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