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Can You Lease a Used Car?

If you are in search of a reliable and well-equipped vehicle, but you’re shopping with a tight budget in mind, you might be drawn to a pre-owned vehicle over a brand new model. However, what if you’re not quite ready to invest in buying a car right now? A common question we hear at Greenway Honda of Florence is, “Can you lease a used car?” The answer to this question is “Yes!” Used car leasing is offered by many manufacturers. Many Muscle Shoals drivers may not have heard about used car leasing because it is generally not advertised as much as new car leasing. If you have questions about used car leasing, the team at Greenway Honda of Florence has provided this helpful guide below.

 

 

The Basics of Used Car Leasing

According to the National Automobile Dealers Association (NADA), the following manufacturers are said to 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.

While used car leasing is offered by many automakers, most manufacturers only allow the leasing of certified pre-owned vehicles. These gently-used cars are late-model vehicles with fewer miles on the odometer than typical used cars. If you are looking to lease a used car, you’ll need to visit a franchised dealership like Greenway Honda of Florence. In most cases, CPO vehicles are only available at franchised dealerships. 

Your Guide to Used Car Leasing

The process of used car leasing is very similar to new car leasing. The monthly lease payment is determined by taking a look at the difference between the sale price of the vehicle and its estimated value at lease-end.

This is why used car leasing is such an attractive option for Tuscumbia drivers. Used cars do not depreciate as rapidly as new cars. Because of this, the difference between the sale price and estimated lease-end value will be lower. This in turn leads to lower monthly payments with used car leasing. 

As with new car leasing, you will need to return your vehicle to the dealership when the terms of your lease are complete. You will also have to stick to set mileage limits to avoid paying a penalty. 

Why Should I Lease a Used Car? 

  • It’s more affordable: Used car leasing is even more affordable than leasing a new car in Sheffield. You can enjoy the freedom of leasing without stretching your budget too thin. 
  • There’s a potential for lease buyout: If you have grown to love your vehicle over the course of your lease, you may be interested in purchasing it when the terms of your lease are complete. The estimated value of a used vehicle will be lower at lease-end compared to a new vehicle.
  • You’ll save on insurance costs: Insurance costs are partially based on the value of a vehicle. Because used cars have a more affordable sticker price, they also cost less to insure. 

Learn More About Used Car Leasing with Greenway Honda of Florence

If you still have questions about used car leasing and whether this option is currently available at Greenway Honda of Florence, reach out to the team today. We would be happy to answer any questions you may have. We also invite you to take a look at our used vehicle specials for additional savings on our quality used cars.

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250 Cox Creek Parkway • Florence, AL 35630

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Greenway Honda of Florence 34.835196, -87.629960.