Can You Lease a Used Car?
Leasing a new vehicle is a great option for any driver who's looking to save and upgrade every few years. However, can you lease a used car?
If you're looking for an affordable way to drive home in a dependable used car, you can lease a used car. To help you learn more about the overall process, here's everything you need to know about leasing a pre-owned car.
How to Lease a Used Car
Getting a used car lease is simple. When you're at the dealership and you find a pre-owned vehicle that you like, you'll work with a finance expert to help you understand your options. They'll walk you through the entire process and answer any questions you may have along the way. Plus, working with a finance professional allows you to get the lease plan with the terms that are right for your budget and financial situation.
Used car lease terms are very similar to leasing a new car. You'll get to keep your pre-owned vehicle for about two to three years, and you'll need to make monthly payments throughout the length of your contract. Once your used car lease contract ends you can:
- Return the vehicle to the dealership and lease another
- Keep it by financing or paying off the remaining value of the car
Benefits of Leasing a Used Car
Leasing a used car can be beneficial to any driver, especially if you're looking to save. Monthly payments for pre-owned leases are typically cheaper than the payments for financing or leasing a new car. Since the value of a used vehicle is lower, you only have to pay a portion of it throughout the length of your lease.
You also have more affordable options to choose from when you lease a used car. So, if you've had your eye on a high-end luxury pre-owned model, you'll be able to drive home in it without breaking the bank.
Plus, leasing is perfect for any driver who wants to upgrade every few years. As soon as your contract ends, and you return your car back to the dealership, you're free to browse through their inventory and lease another used car.
Tips for Used Car Leasing
If you're thinking about leasing, here are a few used car buying tips you should keep in mind.
- Set a Budget to Narrow Down Your Options
Creating a budget that includes the cost of monthly payments, as well as gas, maintenance, and other necessary vehicle expenses, can help you narrow down your options and find the one that works best for you financially.
- Do Some Used Car Research
Before you shop, make sure you take the time to understand which type of vehicle you need. The easiest way to do this is to think about all the features, design, and performance you want. From there, you should have a better idea of what will be right for you.
- Know Your Credit
You can lease a used car with bad credit but keeping your score high can help you get even more affordable terms and offers. One of the easiest ways to improve your credit is paying bills in full and on time.
- Choose a Car that's Dependable
Everyone wants a dependable pre-owned vehicle. So, when you're ready to lease, ask about any inspections and reliability perks the dealership may offer with their pre-owned inventory. Plus, most used cars come with a vehicle history report to help you learn more about their service history.
Lease a Used Car Today
Leasing is a perfect option, especially if you're looking to save on a dependable and well-equipped used car. If you want to learn more about used car leasing or start your search for your perfect pre-owned vehicle, Val-U-Line® is here to help. Just contact us today to get started!