Can You Lease a Used Car?

If you’re looking for an affordable upgrade to your Oakville commute, you’re likely browsing used or certified pre-owned models. While both are excellent options, what do you do if you’re not ready to commit to a long-term car purchase? Can you lease a used car? The answer is yes! Used car leasing is offered by a wide range of automotive brands, though it is less common than new car leasing. Read on below to learn more about used car leasing with Suntrup Hyundai South.

Used Car Leasing Facts

In general, most manufacturers only offer used car leasing on CPO models. For most brands, a model must be 4 model years old or newer, have 60,000 miles or less on the odometer, and must meet strict quality standards. These are the same requirements for the Hyundai CPO program, but Hyundai CPO models also come with a CARFAX® Vehicle History Report™ and incredible warranty coverage.

The National Automobile Dealers Association (NADA) reports that the following brands 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 Used Car Leasing Work?

If you’ve ever leased a new car or you’re at least familiar with the process, used car leasing will feel quite natural. Just like with a new car lease, your monthly payment is determined by the difference between the sale price of a vehicle and the estimated value at lease end. This offers a great benefit since used cars depreciate slower than new cars.

So, you can confidently take on your commute from Mehlville to Fenton knowing your bottom line is secure. Like new car leasing, you’ll need to return your vehicle to the dealership at lease end and adhere to mileage limits.

Benefits of a Used Car Lease

  • Monthly Payment Amount: As mentioned above, used car leasing is more affordable than leasing a new car.
  • Potential for Lease Buyout: Since the value of a vehicle at the end of a used car lease will be lower when compared to a new vehicle, a lease buyout is quite feasible.
  • Lower Insurance Rates: You’ll likely be able to secure lower insurance rates with a CPO lease since insurance costs are partially based on the value of the car.

Turn to Suntrup Hyundai South for Guidance

Now that you can answer the question, “Can you lease a used car?” like a pro, you’re ready to find your new-to-you upgrade. Visit our St. Louis dealership at your convenience to test drive some of our most popular models. When you find the right fit, our financiers will guide you to the best possible deal — even if you have bad credit. Contact us today if you’d like to learn more about leasing a used car.

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