Can You Lease A Used Car?

Do you want to drive away in a used vehicle without committing to full ownership? You’re not alone. Can you lease a used car? The short answer is yes—in select circumstances. There are important differences and trade-offs to consider compared to leasing new models. At Don Franklin Bardstown Chevrolet, we’ll walk you through how used car leasing works and whether it makes sense for you in Elizabethtown.

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 Don Franklin Bardstown Chevrolet. It’s only at franchised dealerships where you can find certified pre-owned vehicles. 

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 pretty similar process to new vehicle leases. The difference between the sale price of the vehicle and its estimated value at the lease end will determine the monthly lease payment. 

This poses a benefit for Hodgenville 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. 

Find Your Next Used Car At Don Franklin Bardstown Chevrolet Today

If you’ve been wondering if you can lease a used car, talk with us. Get in touch with our sales team or stop by our finance center in Bardstown, near Springfield, to see if a leasing option fits your needs. Your next ride is closer than you think!