Can You Lease a Used Car?

Leasing a car is a great option for San Marcos drivers who aren’t interested in selling and buying their cars every few years to stay up to date, but can you lease a used car? If you have a tight budget, a used or certified pre-owned vehicle will be perfect for you. Many manufacturers offer used car leasing. You can read this guide from MINI of Escondido to find out more.

Facts About Used Car Leasing

Usually, manufacturers only allow certified pre-owned vehicles to be leased. This is great for San Diego-area drivers since certified pre-owned vehicles are usually in better condition than most used vehicles. However, CPO vehicles available for leasing must:

• Be fewer than 4 model years old
• And have less than 48,000 miles on the odometer

To lease a CPO vehicle, you’ll have to visit a franchised dealership like those that are a part of MINI of Escondido as these are the only dealerships where you can find certified pre-owned vehicles. According to the National Automobile Dealers Association (NADA), the list of manufacturers which are said to offer CPO leasing include:

• 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 Can You Lease a Used Car?

To lease a used car, you can follow a similar process to leasing a new vehicle. The monthly lease payment will be determined by the difference between the sale price of the vehicle and its estimated value at lease-end. Used cars depreciate more slowly than new cars which means that Carlsbad area drivers who choose to lease will have lower monthly payments. Of course, you’ll still have to return your CPO lease at the end of the term of your lease and adhere to mileage limits.

The Benefits of Used Car Leasing

• Lower Monthly Payment: Since used cars depreciate more slowly, you’ll have a lower monthly payment than if you leased a new car.

• You Can Buyout Your Lease: Since a used vehicle will have a lower estimated value at the end of the lease compared to a new vehicle, it’s more affordable to buyout your lease.

• Lower Insurance Rates: Insurance rates are partially based on the car’s value. With a CPO lease, you’ll likely have a lower car insurance rate.

Contact MINI of Escondido for More Information

You may have the answer to “can you lease a used car?” but if you need any other information, please contact us. Our finance team in Escondido will be happy to help. While you’re here, check out our finance and lease offers.