If you are looking to take your Bedford commute to the next level without breaking the bank, you may be considering one of the high-quality pre-owned vehicles available at our used BMW dealership. Throughout the course of your search, you may be wondering, “Can you lease a used car?” Many manufacturers do in fact offer used car leasing, however it’s generally not advertised as much as new car leasing. So, how does used car leasing work? As your BMW specialist near Londonderry, the team at Tulley BMW of Manchester is happy to explain the process.
In most cases, only certified pre-owned vehicles are eligible for used car leasing. CPO vehicles must meet strict standards set by the automaker and they are typically under a certain age and/or mileage limit.
According to the National Automobile Dealers Association (NADA), the list of manufacturers which are said to offer CPO leasing includes 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.
The process of leasing a certified used vehicle is pretty similar to the process of leasing a new car. The difference between the sale price of the vehicle and the estimated value at the end of your lease is used to determine what your monthly payments will be.
One of the major benefits of used car leasing is that used cars depreciate more slowly than new cars. Because of this, the difference between the sale price and estimated lease-end value will be smaller, which in turn, leads to lower monthly payments.
Just as you would when you lease a new car, when your lease ends you will bring the vehicle back to the dealership and cover any remaining costs. Then, you can select another vehicle with advanced technology and features. Keep in mind that when you lease, you will be restricted by mileage limits.
If you have questions about used car leasing, reach out to the experts at your local used BMW dealership, Tulley BMW of Manchester. We would be more than happy to assist you.
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