Can You Lease a Used Car?

If you’re looking for an upgrade to your Lawrenceville commute, it’s worth considering a used car, especially if you’re on a tight budget. But, can you lease a used car? Oftentimes, yes! Used car leasing is a great way to upgrade your Duluth ride on a budget, especially if you aren’t ready to invest in buying or financing a vehicle. So, let’s take a look at used car leasing in more detail with Rick Hendrick Chevrolet Duluth. For more information, feel free to contact us anytime!

Facts About Used Car Leasing

In most cases, used car leasing is offered on certified pre-owned vehicles that are less than 4 years old with 48,000 miles or less on the odometer, though these qualifications can vary based on the auto maker. So, in order to take advantage of used car leasing, you would need to visit one of the dealerships around Suwanee, as only franchised dealerships offer leases on used vehicles.

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.

Wondering why Chevrolet isn’t included in that list? It was only as recently as 2016 that General Motors started offering CPO leasing of its brands, including Chevrolet, GMC, Buick, and Cadillac.

How Does Used Car Leasing Work?

Used car leasing is quite similar to leasing a brand new vehicle, as the monthly payment is determined by the estimated value at the end of the lease. However, one of the main advantages of leasing a used car is that they depreciate slower than new cars, therefore, you will have a lower monthly payment.

Also similar to leasing a brand new car, you would just return the CPO lease to the Duluth dealership when the contract is finished. You will also have to stay within a certain mileage limit for each year of the lease.

Advantages of Used Car Leasing

• Monthly Payment Amount: Due to slower depreciation, used car leasing provides lower monthly payments as compared to leasing a new car.
• Potential for Lease Buyout: Because the estimated value is lower for a used car, it would be more attainable to purchase the vehicle at the end of the lease.
• Lower Insurance Rates: Because insurance rates are partially based on the value of the vehicle, you can take advantage of lower insurance costs with a CPO vehicle.

Learn More About Used Car Leasing at Rick Hendrick Chevrolet Duluth!

Now that you know more about used car leasing, come check out our CPO inventory at Rick Hendrick Chevrolet Duluth! Meet with our finance center to discuss leasing options, and be sure to take advantage of our used car specials to save near Johns Creek!