Can You Lease a Used Car?

January 15th, 2019 by

couple being handed keys to new car

Although the practice of leasing a used car isn’t common, select dealerships do offer it. Used cars that can be leased are generally Certified Pre-Owned models. Brands that specifically do not offer used car leases are Ford, Chevrolet, GMC, Buick, and Cadillac. With questions regarding used car leasing, contact Ray Skillman Alfa Romeo, your Indianapolis-area Alfa Romeo dealership.

Used Car Leasing Facts

For those that want the freedom of a lease deal or lower monthly payments, a used car lease is a good choice. Keep these key facts in mind when considering a used car lease:

  • Which Used Cars Can Be Leased? – Most used car leases tend to be offered exclusively on certified pre-owned models. Most dealerships won’t advertise used lease prices, so make sure to contact us to find out more about our offers.
  • Used vs. New Car Lease – Though a used car lease will generally cost less than a new car lease in terms of monthly payments, you’ll get many of the same benefits of the lease. You’ll still, of course, have to return the vehicle at the end of the lease term, and remain within mileage limits.
  • Can I Buy a Used Car After I Lease? – Should a dealership offer used car leases, it’s safe to assume you can purchase the car after the lease is over. This will grant you a lower residual value than a lease buyout with a newer model.
  • Insurance for a Leased Used Car – The value of the car partially dictates insurance costs. You may pay less per month for insurance with a CPO or used lease.

Certified pre-owned models tend to come with extended warranty coverage that covers most components, though maintenance costs in general tend to be higher.

Learn More About Leasing at Ray Skillman Alfa Romeo

Turn to Ray Skillman Alfa Romeo and our expert finance department to learn more about leasing, financing, or our available new and used vehicle specials. Stop by our Alfa Romeo dealership near Greenwood, or reach out to us at (317) 535-0911 with any questions you may have!

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