Are you looking to upgrade your Beverly Hills commute with a new vehicle? If you’re shopping with a set budget in mind, buying a pre-owned vehicle is an excellent way to get the features you want at a price you can afford. However, if you’re looking to avoid the long-term hassles of ownership, you may be wondering if you can lease a used car. Many manufacturers do offer used car leasing, though it isn’t advertised as often as new car leasing. Learn more below, then contact our team to see if we have any vehicles available for used car leasing.
Used Car Leasing Facts
Most manufacturers only allow certified pre-owned (CPO) vehicles to be leased. CPO vehicles must meet strict manufacturer requirements to earn certification, and only franchised dealerships can sell them.
According to the National Automobile Dealers Association (NADA), the following manufacturers 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?
Leasing a used vehicle is similar to leasing a new one. The main difference lies in the vehicle’s sale price and estimated lease-end value, which determine your monthly payment. Because used cars depreciate more slowly, the gap between these values is smaller—resulting in lower monthly payments for Bel Air drivers.
As with new car leases:
- You must return the vehicle at the end of the lease.
- You must follow mileage limits.
- You may have the option to purchase the vehicle at lease-end.
Benefits of a Used Car Lease
- Lower Monthly Payments: Used car leases typically cost less per month than new car leases.
- More Affordable Lease Buyout: The lower vehicle value at lease-end makes buying your vehicle more attainable.
- Lower Insurance Rates: Since insurance costs are partly based on vehicle value, CPO lease vehicles may have lower premiums.
Contact Our Finance Team With Your Questions
If you have additional questions about used car leasing, reach out to our finance experts. Our team will help you secure the ideal financing or leasing plan for your budget, ensuring you get the perfect vehicle for your Los Angeles commute. Visit our Los Angeles showroom today to test drive a new or used Jaguar!