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382 Newbury St, Danvers, MA, 01923

Can You Lease A Used Car?

Used cars on a lot
 

Can you lease a used car in Lynn to access lower monthly auto payments? While most buyers do choose to finance their used car, leasing is possible for certain used vehicles. In the guide below, review your used car leasing options with Honda North before exploring our extensive pre-owned inventory.

Which Used Cars Can Be Leased?

Used car leasing is typically limited to certified pre-owned models, and further restrictions may require that the certified pre-owned vehicle be less than 4 years old or have less than 48,000 miles on the odometer.

Can you lease a used car of any make? Not all automakers offer used car lease contracts, but the majority do allow used car leasing for CPO models. According to the National Automobile Dealers Association (NADA), the following brands offer leasing for CPO vehicles: 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?

Can you lease a used car as easily as a new car? When it’s available, a used car lease follows the same procedure as a typical new car lease. Monthly payment amounts are based on the difference between the price you paid for the vehicle and its projected lease-end value. That’s great news for Burlington used car buyers, because vehicles depreciate the most in their first two years off the lot — so used models depreciate more slowly than new ones. The smaller difference between sale price and lease-end value results in lower monthly payments for use car leases.

At lease-end, simply return your leased CPO vehicle to our lot near Lawrence. Be sure you’re aware of any lease term restrictions, like mileage limits. Try our online payment calculator to get an instant estimate of your monthly auto payments.

Benefits of Used Car Leasing

  • Lower Monthly Payment Amount–Can you lease a used car for less than you pay each month for a new model? Absolutely. Slower depreciation rates result in lower monthly payments for CPO vehicles.
  • Potential for Lease Buyout–At the end of your lease term, used vehicles hold less value than new vehicles. If you think you may buy out your lease at the end of the term, it’ll be more affordable with used car leasing.
  • Lower Insurance Rates –Insurance costs are based partly on a vehicle’s value, so you may be paying lower car insurance rates.

Explore Used Car Leasing Options in Danvers 

Questions about the used car leasing process? The auto finance experts at Honda North are standing by to answer your questions. Contact us today to learn more about guaranteed financing, good interest rates, and more.

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