Can You Lease a Used Car?

February 5th, 2019 by

Woman buying a car

Leasing a used car isn’t a common practice, but it is possible. You can usually lease a used vehicle that’s part of the certified pre-owned program. If you’re interested in leasing a used car in the Niles, this is what you need to know.

Understanding Used Car Leasing

If you’re looking for lower monthly payments, a pre-owned vehicle lease may be the way to go. These are some things to keep in mind.

  • Which Used Cars Can Be Leased? The majority of used vehicles available for lease are CPO vehicles. The used lease price might not be listed, so it’s a good idea to ask.
  • Used vs. New Car Lease? A lease for a used car will typically cost less in terms of monthly payments, but you still get the same leasing benefits. You do still need to return the car at the end of your lease and obey terms like mileage limits.
  • Can I Buy a Used Car After I Lease? If your local Chicago dealership offers used car leases, you will likely be able to buy the car at the end of the less term, if you’re interested.
  • Insurance for a Leased Used Car? Because Insurance prices are partially based on the value of the car, you may pay less per month for insurance with a lease for a CPO vehicle.

Learn More About Leasing at McGrath Acura of Downtown Chicago

To learn more about used car leasing, or new car leases, contact our finance department or visit our team in person. You can even learn why you should lease a new Acura. Be sure to check out our lease deals as well.

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Posted in Leasing