Can You Lease a Used Car?

Wanting to upgrade to your Fresno commute? If you’re like many drivers and keep a close eye on your budget, a used or certified pre-owned vehicle might be an excellent option! If you’re not quite ready to commit to buying a car outright right now, a used car lease might be ideal! Can you lease a used car? Yes, a used car lease is available through many manufacturers and auto dealers but not typically advertised as much as new car leasing. Here, Fresno Acura covers everything you should know about used car leasing, and contact our finance team with any questions. 

Used Car Leasing Facts

Most auto manufacturers only allow certified pre-owned vehicles to be leased. Generally, CPO vehicles available for leasing must be less than four model years old and have fewer than 48,000 miles on their odometer. If you want a used car lease, you’ll need to visit an authorized franchise dealership around Clovis like Fresno Acura, where you can shop for certified pre-owned vehicles. 

According to the National Automobile Dealers Association (NADA), these automakers offer CPO leasing: 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 Does a Used Car Lease Work?

A used car lease is similar to a new vehicle lease. The difference between the vehicle’s sale price and its estimated value at the end of the lease determines your monthly lease payment. 

A used car lease is an advantage to Madera drivers because used cars depreciate slower than new cars, so the difference between the sale price and estimated value at the lease end will be less, making your monthly payments more affordable. When your lease term is up, you’ll return your certified pre-owned vehicle to the dealership. Remember to keep an eye on your mileage limits because if you go over them, you’ll have to pay a fee. 

Benefits of a Used Car Lease

• Lower Monthly Payment Amount: Used car leasing is more affordable than leasing a new car. 
• Potential for Lease Buyout: The estimated value of a used car will be lower at the end of the lease-end than a new vehicle, which makes it more affordable to do a lease buyout and purchase the vehicle.
• Lower Insurance Rates: You’ll likely have a lower car insurance rate with a used car lease because insurance costs are partially based on the value of the car. 

Lease or Finance a Car With Fresno Acura

If you still have questions about used car leasing, contact us at Fresno Acura near Visalia. We are your best source for auto financing or leasing! Let’s get you into the Acura of your dreams at a monthly payment you can afford!