Are you ready to drive a different vehicle in Apex and the surrounding areas? Does leasing sound like an attractive option for assorted reasons, such as your current budget? If you’re wondering about used car leasing, you’re not alone. Many drivers throughout Carrboro and the neighboring communities have similar questions. So, can you lease a used car? Learn whether this is a possibility with the finance team at Hendrick Dodge Cary today. We are here to answer your questions, assist you with financing or leasing, and put you in the right vehicle. Contact our Cary dealership to schedule a test drive at your convenience!
Used Car Leasing Facts
Most manufacturers only allow certified pre-owned vehicles to be leased. As a general rule, the CPO vehicles available for leasing must be fewer than 4 model years old and have less than 48,000 miles on their odometer. This means that if you want to lease a certified used vehicle, you’ll need to visit a franchised dealership, such as those that are part of Hendrick Dodge Cary, as certified pre-owned vehicles are only available at franchised dealerships.
According to the National Automobile Dealers Association (NADA), the list of manufacturers that 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 certified used vehicle follows a similar process to leasing a new vehicle. The difference between the sale price of the vehicle and its estimated value at the end of the lease will determine the monthly lease payment.
This poses a benefit for Chapel Hill shoppers—used cars depreciate more slowly 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.
Like 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.
Benefits of a Used Car Lease
- Monthly Payment Amount: As we noted above, 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 lease-end 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: There’s a good chance you can get a lower car insurance rate with a CPO lease, as insurance costs are partially based on the car’s value.
Contact Us With Questions
Do you have further used car leasing questions? Contact Hendrick Dodge Cary at 844-361-8849 today! You can also message us online. Our team will create a lease package tailored to your needs. Continue your research with our guides on what a lease buyout entails and what in-house used car financing involves.
