Can You Lease a Used Car?

2019 BMW X1
 

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. 


The Basics of Used Car Leasing

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.

How Does Used Car Leasing Work?

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. 

Advantages of a Used Car Lease

  • Monthly Payment Amount: Leasing a used car is a budget-friendly option for many drivers in the Auburn area. 
  • Potential for Lease Buyout: The estimated value of a used vehicle will be lower at lease-end when compared to a new vehicle. When your lease comes to an end, a lease buyout could be an affordable option for you if you like the vehicle you have been leasing. 
  • Lower Insurance Rates: In most cases, if you opt for a CPO lease, you can expect lower insurance payments as well. 

Contact Tulley BMW of Manchester for More Information

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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