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Can You Lease a Used Car?

2022 Jaguar F-TYPE R parked with couple walking nearby

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 that come with car ownership, you may be wondering if you can lease a used car. Used car leasing is offered by many manufacturers, though it is typically not advertised as much as new car leasing. Learn more about how you can lease a used vehicle below, then contact our team to see if we have any vehicles in stock for used car leasing. 

Used Car Leasing Facts

Most manufacturers only allow certified pre-owned vehicles to be leased. Certified pre-owned vehicles must meet certain requirements set by the manufacturer in order to receive this prestigious designation. This means that if you want to lease a certified used vehicle, you’ll need to visit a franchised dealership since these are the only stores that can sell certified pre-owned vehicles from their designated manufacturer.

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?

Leasing a used vehicle from a dealership is very similar to leasing a new vehicle. The main difference will be the sale price of the vehicle and its estimated value at lease-end. These two numbers will determine your monthly lease payment. This is a benefit for Bel Air shoppers –– as used cars depreciate slower than new cars, so the difference between the sale price and estimated lease-end value will be smaller and your monthly payments will be lower. 

Similar to new car leasing, when your lease ends you will need to return your CPO lease to the dealership. There will also be mileage limits you will need to adhere to and you’ll have the possibility to purchase the vehicle at the end of your lease. 

Benefits of a Used Car Lease

  • Monthly Payment Amount: You can lease a used car for a lower monthly amount than you would a new car
  • Potential for Lease Buyout: The estimated value of a used vehicle will be lower at the end of the lease 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: You may have a lower car insurance rate with a CPO lease, as insurance costs are partially based on the car’s value. 

Contact Our Finance Team With Your Questions

If you have any lingering questions about used car leasing, contact our finance team for more information on how the process works at our dealership. Our friendly team is here to help you secure the best financing or leasing option for your budget, so you can get the vehicle you need for your Los Angeles commute while staying within your budget. Stop by our Los Angeles showroom today to get behind the wheel of a new or used Jaguar model!

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