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Can You Lease a Used Car?

While leasing a used car isn’t common, there are some dealerships that do offer this financing option. Most likely, these vehicles are certified pre-owned models. Currently, the only brands that explicitly don’t offer used leases are Ford, Buick, Chevrolet, Cadillac, and GMC. If you would like more information on leasing a used model, contact Acura of Ocean, serving Red Bank and the surrounding areas.

Used Car Leasing Facts

A used car lease can be a budget-friendly choice because of the low monthly payments and the flexibility of a lease. Below are a few quick facts about used car leasing:

  • Which Used Cars Can Be Leased? – Most used car leases are only offered for certified pre-owned vehicles. You may not see used leases advertised, so it is best to contact the dealership to see what is actually offered.
  • Used vs. New Car Lease – A used car lease will usually cost less than new car monthly lease payments, but offer many of the same benefits. Keep in mind that you still have to turn in the car when the lease term is up, and you will still have to obey mileage limits.
  • Can I Buy a Used Car After I Lease? – If a dealership offers used car leases, it is highly likely that you will have the option of purchasing the vehicle when the lease period is complete. That gives you a lower residual value than performing a lease buyout on a newer model.
  • Insurance for a Leased Used Car – The value of the car is one factor that affects the cost of insurance. It’s possible that you could pay less per month for insurance with a CPO lease.

While maintenance costs tend to be higher on a certified pre-owned car, they often include an extended warranty that covers many important components.

Learn More About Leasing

In addition to used car lease options, you can also peruse the lease deals and incentives offered on new Acura models at Acura of Ocean. If you would like to know more about used car leases or lease contracts, do not hesitate to contact us. You can even learn more about Gap insurance. We are just a quick drive from Asbury Park. We look forward to helping you find the affordable vehicle of your dreams.

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