If you are shopping on a budget for your next vehicle around Raleigh or Durham, you may be wondering about your options. A common question we hear at Hendrick Kia of Cary is, “Can you lease a used car?” Yes, used car leasing is an option with some automotive brands. Our finance experts discuss used car leasing more in-depth below to help you determine if this is the right choice for your driving needs and budget.
The Basics of Used Car Leasing
When it comes to used car leasing, it is usually only certified pre-owned vehicles that are eligible for this option. If you are interested in used car leasing, it is best to visit a franchised dealership like Hendrick Kia of Cary, because it is only at franchised dealerships where you can find certified pre-owned vehicles.
Which brands offer used car leasing? Based on information from the National Automobile Dealers Association (NADA), the following brands offer CPO leasing: 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?
Used car leasing and new car leasing share a lot of similarities. For example, monthly payments are determined by the difference between the sale price of the vehicle and its estimated value when the terms of the lease are complete.
Why is this beneficial for car shoppers around Apex and Cary? Used cars depreciate at a much slower rate than new cars, so the difference between the sale price and estimated lease-end value will be smaller. This, in turn, leads to lower monthly payments.
When the terms of the lease are complete with used car leasing, you will simply bring the vehicle back to the dealership. This is also the same with new car leasing. Keep in mind that used car leasing also comes with mileage limits.
Why Choose Used Car Leasing in Cary?
- Monthly Payment Amount: You are able to lease a used car for an even more affordable monthly payment.
- Potential for Lease Buyout: The estimated value of a used vehicle will be lower at lease-end when compared to a new vehicle. If you are considering a lease buyout, you can get a great deal on a vehicle you have grown to love.
- Lower Insurance Rates: Because car insurance costs are partially calculated based on the value of the vehicle, you can typically expect lower rates with used car leasing.
Contact Hendrick Kia of Cary About Used Car Leasing Today
Has used car leasing piqued your interest? If so, feel free to contact the team at Hendrick Kia of Cary for more information about the process and your options. We look forward to helping you find a dependable and affordable vehicle you will love for years to come.
