Can You Lease a Used Car?

Used cars on a car lot

 

Leasing is a great way for many Bismarck and New Town drivers to get behind the wheel of a new vehicle for less than they’d pay to buy the same vehicle. But can you lease a used car? Absolutely! That having been said, leasing used cars is generally far less common than leasing new cars. Still, if you’re not ready to buy used or lease new, leasing used could be a good option. Most times, manufacturers will lease certified used cars rather than just general used cars. Give us a call at 701-484-3156 to inquire about current used leasing availability at Ryan Buick GMC. You can also contact us anytime.

Used Car Leasing Facts

As noted above, most manufacturers, including Buick and GMC, only allow certified pre-owned cars to be leased. Generally, CPO vehicles for lease should be 4 model years old or newer and have less than 48,000 miles on the odometer. So, if you’re looking for a used car leasing deal that’s too good to pass up in Bismarck, then you’ll have to be looking at franchised brand dealerships such as Ryan Buick GMC.

Per 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?

Leasing a used car works the same way leasing a new car does, in principle. The difference lies in the cost. Namely, if you subtract the estimated value at lease-end from the sale price of the vehicle, whether new or used, that will determine the lease price or monthly payment. Because used cars depreciate more slowly than used cars, the difference between these figures is often smaller, yielding lower monthly payments than with new leases. 

Like new car leasing, when a used lease ends, you are required to return the vehicle to the dealership. Mileage limits still apply, and excess use fees can also still be charged.

Benefits of Leasing Used in Minot

  • Potential for Lease Buyout: The estimated value of a used vehicle will be lower at the 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: Want lower insurance rates?With a CPO lease, this is a very good possibility.
  • Monthly Payment Amount: Monthly payments for used leases are almost always less than for new leases.

Contact Us With Questions

Still looking for more information on used car leasing near New Town or Bottineau? The experts at the Ryan Buick GMC finance center are here to help! Looking to see what kind of lease or loan you can prequalify for? Apply online now!

 

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