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Can You Lease a Used Car?

If it’s time for an upgrade to your Pasadena commute, but you’re on a tight budget, shop for a used or certified pre-owned model from us at Rusnak Maserati of Pasadena. Not sure about buying your next vehicle? A lease might be a better option for you. You might wonder, “Can you lease a used car?” Used car leasing is offered by many manufacturers, though it’s typically not advertised as much as new car leasing. Learn about used car leasing and more with the Rusnak Maserati of Pasadena finance team today before you make your choice.

 

 

Used Car Leasing Facts

While leasing used vehicles isn’t common, most manufacturers that do lease used models only allow certified pre-owned vehicles to be leased. As a general rule, the CPO vehicles available for leasing must be fewer than 4 model years old and have less than 48,000 miles on their odometer. If you’re interested in leasing a certified used vehicle, you’ll need to visit a franchised dealership like those that are part of the Rusnak Auto Group.

How Does Used Car Leasing Work?

When you lease a certified used vehicle, you can expect the process to mirror that of a new vehicle lease. The difference between the sale price of the vehicle and its estimated value at lease-end will determine the monthly lease payment.

This is beneficial to Pasadena drivers and beyond as used cars depreciate more slowly than new vehicles. So the difference between the sale price and estimated lease-end value will be smaller and your monthly payments will be lower.

Much like new car leasing, when the lease term ends, you will need to return your CPO lease to the dealership you leased it from. Keep in mind that there are mileage limits to adhere to as well.

Benefits of a Used Car Lease

  • Monthly Payment Amount: As we noted above, you can lease a used car for a lower monthly amount than you would a new car.
  • Potential for Lease Buyout: The estimated value of a used vehicle will be lower at lease-end when compared to a new vehicle, which could make a lease buyout more affordable when you reach the end of your lease term.
  • Lower Insurance Rates: There’s a good chance you can get a lower car insurance rate with a CPO lease, as insurance costs are partially based on the car’s value.

Contact Us at Rusnak Maserati of Pasadena with Questions

Still have some questions about used car leasing? Contact our finance team at Rusnak Maserati of Pasadena today to get the answers you’re looking for and more! We can also help you find more savings options so you can drive off in your favorite model at a more affordable price. Contact us today to learn more!

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