You’ve probably heard of leasing a brand-new vehicle, but what about a pre-owned one? You can lease a used car as used car leasing is offered by many manufacturers. This is ideal if you need a vehicle in Columbus, GA, but you’re not quite ready to invest in purchasing one! Learn a bit more about how leasing a pre-owned model works below.
Most manufacturers only allow certified pre-owned vehicles to be leased. Generally, the CPO vehicles available for leasing must be fewer than 4 model years old and have less than 48,000 miles on their odometer. If you’re interested in leasing a certified used vehicle, you’ll need to visit a franchised dealership like Opelika Ford Chrysler Dodge Jeep Ram.
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.
Leasing a certified used vehicle is similar to leasing a new one. When it comes to the monthly lease payment, it will depend on the difference between the sale price of the vehicle and its estimated value at lease end. Since used cars depreciate more slowly than new cars, the difference between the sale price and estimated lease-end value will be smaller, and your monthly payments will be lower. This will give you a huge advantage in Auburn! Still, you will have restrictions like mileage limits and keeping the car to its condition as closely as possible. When your lease ends, you will also need to return your CPO lease to the dealership.