Can You Lease a Pre-Owned Car?
If you’re interested in taking your Kettering commute to the next level while staying on budget, consider a pre-owned car for sale at Mercedes-Benz of Centerville. With lots to consider, many wonder if pre-owned car leasing is an option. While offered by many manufacturers, it’s not advertised as much as new car leasing is. Learn more about leasing a pre-owned car, and don’t hesitate to contact our finance department if you have any questions.
Pre-Owned Car Leasing Facts
Typically, manufacturers only allow shoppers to lease a certified pre-owned vehicle. CPO vehicles must be fewer than four model years old and have less than 48,000 miles on the odometer. Feel free to contact us for more details about how Pre-Owned vs. CPO vehicles compare and what’s considered good mileage for a pre-owned car.
According to the National Automobile Dealers Association (NADA), the list of manufacturers that 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 Pre-Owned Car Leasing Work?
Leasing a CPO vehicle works similarly to new vehicle leasing. The difference is the difference betwee the sale price of the car and its estimated value at lease-end determines your monthly lease payment. Pre-Owned cars also depreciate more slowly than new cars, so you can expect your CPO lease payments to be lower than a new car lease.
Like new car leasing, you would return the car when the lease ends to the dealership. There are mileage limits you’re required to follow.
Benefits of a Pre-Owned Car Lease
- Monthly Payment Amount: Your monthly payment on your pre-owned car lease would be lower.
- Potential for Lease Buyout: The estimated value of a pre-owned vehicle is lower at lease-end in comparison to a new car, making a lease buyout more affordable when you reach the end of your lease term.
- Lower Insurance Rates: You may get a lower car insurance rate with a CPO lease since it’s based on the car’s value.
Learn More About Pre-Owned Car Leasing!
If you have any additional questions or want to test drive a pre-owned vehicle, give us a call! We’ll help you find the pre-owned vehicle best suited for your commute. Apply for financing to see if you qualify,
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